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Iraqi government tends to raise the Dollar's exchange rate against the dinar

Category: Economy

Date: 2020-12-08T11:01:01+0000
Iraqi government tends to raise the Dollar's exchange rate against the dinar

Shafaq News / A member of the Parliamentary Finance Committee confirmed the government's intention to raise the exchange rate of the Dollar.

The owners of banking offices attributed the recent rise in the Dollar's exchange rate to the increase in demand for it by citizens, after rumors of the government's intention to raise its price.

MP Jamal Kocher said in an interview with Shafaq News agency, "I think that there is a government tendency to create an atmosphere for raising the dollar exchange rate more than it was in previous budgets, to reach approximately 130 thousand dinars for every 100 dollars," indicating that this step will affect the citizens and their salaries.

Kocher added, "The government's approach to reducing the deficit within the budget for next year boils down to four main steps, the first is to raise the exchange rate of the Dollar against the dinar, raise the price of the oil barrel to more than $ 42, which was previously announced by the Minister of Oil, implementing the reform paper into texts within the budget law, and finally, pressure expenditures and go to major expenditures only.

"The government must take these steps. Otherwise, there will be a huge deficit," he said.

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