Shafaq News / Iraq’s cabinet spokesman commented, on Tuesday on the political blocs’ efforts to change the dollar exchange rate in the 2021 federal budget.

On question by Shafaq News Agency correspondent about a parliamentary move to change the dollar-dinar exchange rate and the oil prices, Hassan Nazim said "any change in the budget law will affect the work of the ministries."

The government spokesman expressed hope that parliament would vote on the budget law in the next session next Saturday.

Last December, Iraq’s central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.

The central bank of Iraq said the key reason behind the dinar’s devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq’s financial resources.

Parliamentary blocs are seeking to inch lower the value of the dollar against the dinar.