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Experts: Iraq is outside the global inflation cycle
Economical 05/23/2024
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Specialists in agricultural and economic affairs noted that the improvement in agricultural production and the regular provision of food basket items has pushed Iraq to be outside the cycle of inflation and high prices that the world is witnessing, in light of government efforts to reduce the price of meat, which was the most prominent effect.
The Minister of Commerce, Atheer Al-Ghurairi, recently announced that Iraq was removed from the list of countries that lead the increase and inflation in prices, and stressed that the ration is secured with strategic storage, and it does not need the citizen’s worry about the rise in the prices of its items in the markets.
Advisor to the Ministry of Agriculture, Mahdi Damad Al-Qaisi, told Al-Sabah: The agricultural sector played a role in supporting food security, in addition to the economic and social aspects related to this sector, as well as health and environmental, as it had a fundamental and important role in development, and received great government support. Represented by the Prime Minister and the ministerial cabinet.
He pointed out that the first initiatives that have been achieved are self-sufficiency, especially in the wheat crop during the past and current years, as it is hoped that quantities exceeding six million tons will be marketed to the Ministry of Commerce, which will deliver farmers’ dues once they receive the crop, which is one of the methods of supporting farmers, in addition to the role of the Ministry of Commerce. Agriculture in spreading modern technologies, specifically sprinkler irrigation, especially in areas dependent on groundwater, which has reached about 4 million dunams.
Al-Qaisi pointed out that the ministry proposed to the Ministerial Council for the Economy to reduce customs duties on imported live animals for the purpose of slaughter, namely calves, sheep, and cows, by 50 percent, as the duty became only 2 percent for those animals. As for animals imported for the purpose of breeding, the customs duty rate became 5 percent for the purpose of reducing the burden on the consumer and reducing prices. In addition, the Ministry encouraged the Private Sector Investment Department for the purpose of entering into projects to raise productive animals. He continued that the ministry also submitted a proposal to the Ministerial Council for the Economy to support the poultry sector by increasing the customs duty on table eggs, so the customs duty became 70 percent instead of 20 percent to support breeders and promote the local industry, which is healthier and safer than imported ones.
For his part, economic affairs researcher Imad Al-Muhammadawi told Al-Sabah: The world is witnessing inflation and anxiety as a result of rising prices, an increase not seen in decades, which has been reflected in all Arab and international countries.
He added that Iraq was able to be immune from this rise, except with regard to meat prices, and it is on its way to a solution by controlling border crossings and preventing exports, in addition to reducing customs duties on live animals imported for the purpose of slaughter.
He continued that a report issued by the International Monetary Fund indicated that the Arab region witnessed in the past year an increase of about 9.3 percent, affected by various factors, including the decline in the currency exchange rates of a number of Arab countries, and changes in the prices of energy and foodstuffs.
Al-Muhammadawi pointed out that the country is witnessing a clear increase in the harvest of agricultural crops, which has had a striking impact on the prices of food products, as the Ministry of Agriculture recently announced the marketing of more than two million tons of wheat so far, while indicating entry into the peak stage of marketing, and confirming that Iraq has achieved self-sufficiency. For many crops.
Edited by: Ali Mowafaq
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