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Economist: The new government has a golden opportunity to reduce the dollar exchange rate

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Economist: The new government has a golden opportunity to reduce the dollar exchange rate

October 14 14:51
Information / Baghdad...


The economic affairs specialist, Muhammad Al-Saadi, confirmed that the

new government has a golden opportunity to

    reduce the exchange rate of the dollar in the local markets and

    raise the value of the Iraqi dinar, pointing out that

all conditions are prepared for this measure.  Al-Saadi told "The Information",

"Iraq has achieved a great financial abundance after the significant rise in international oil prices, which raised the central bank's reserves to more than 80 billion dollars."  He added,

"The increase in oil prices and cash reserves will enable the new government to

gradually reduce the dollar exchange rate during the next stage
, as

this is considered one of the first decisions that can serve the people."  And he indicated that

"there is an appropriate ground to

    attract foreign investments to establish oil refineries in the governorates and

    work on the export of derivatives and thus

    return to the country with large revenues, as well as

    achieving self-sufficiency in derivatives, and in sum,

the government's high exchange rate achieved can be achieved through other doors."
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