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Al-Kazemi’s advisor: The Food Security Law supports prices and combats poverty
Political Yesterday, 12:05
Baghdad - INA - Nassar Al-Hajj
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained, today, Saturday, the Central Bank’s measures to stabilize prices and reduce inflation,
while stressing that the Food Security Law supports prices and combats poverty.
Salih told the Iraqi News Agency (INA): "The main source of inflation or the rise in the general level of prices in Iraq is mainly caused by what is called transitional or imported inflation," noting that
"the country is currently dependent in an unprecedented way on imported supply chains, all of which have been affected by degrees.
Different from the price growth due to the rise in global energy prices and the food shortage crisis in the world and under the influence of the aggravation of the war in Eurasia.
He added that "to face the burdens of inflation on economic life in Iraq, the Iraqi financial policy, through the indicators stipulated in the emergency law for food security and development, pledged to achieve broad support for food prices and limited cash incomes and to combat poverty in its various forms, as preceded by a package of measures taken by the fiscal policy.
And supportive of prices, including (zero taxes and customs duties) on a wide range of food and essential imports, as well as the stability of selling prices of all government goods and services, including, for example, fuel and electricity, as well as the expansion of ration card materials at subsidized prices, indicating that “the subsidy clause in spending The government ratio to GDP will remain high, which is directly estimated at 15% of Iraq's GDP. Saleh continued that"
He pointed out that "the precautionary measures of monetary policy to ensure general price stability and combat inflationary activities are definitely ready, and implemented when necessary, through a strict monetary policy in the interest of the strength and stability of the national currency, and in coordination with fiscal policy and general economic policy."
Al-Kazemi’s advisor: The Food Security Law supports prices and combats poverty
Political Yesterday, 12:05
Baghdad - INA - Nassar Al-Hajj
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained, today, Saturday, the Central Bank’s measures to stabilize prices and reduce inflation,
while stressing that the Food Security Law supports prices and combats poverty.
Salih told the Iraqi News Agency (INA): "The main source of inflation or the rise in the general level of prices in Iraq is mainly caused by what is called transitional or imported inflation," noting that
"the country is currently dependent in an unprecedented way on imported supply chains, all of which have been affected by degrees.
Different from the price growth due to the rise in global energy prices and the food shortage crisis in the world and under the influence of the aggravation of the war in Eurasia.
He added that "to face the burdens of inflation on economic life in Iraq, the Iraqi financial policy, through the indicators stipulated in the emergency law for food security and development, pledged to achieve broad support for food prices and limited cash incomes and to combat poverty in its various forms, as preceded by a package of measures taken by the fiscal policy.
And supportive of prices, including (zero taxes and customs duties) on a wide range of food and essential imports, as well as the stability of selling prices of all government goods and services, including, for example, fuel and electricity, as well as the expansion of ration card materials at subsidized prices, indicating that “the subsidy clause in spending The government ratio to GDP will remain high, which is directly estimated at 15% of Iraq's GDP. Saleh continued that"
He pointed out that "the precautionary measures of monetary policy to ensure general price stability and combat inflationary activities are definitely ready, and implemented when necessary, through a strict monetary policy in the interest of the strength and stability of the national currency, and in coordination with fiscal policy and general economic policy."
