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An economist shows how long it is necessary to return the exchange rate.. These are his influences
October 31, 20:15
Information/ private..
The Economist Jalil al-Lami, on Monday, the necessary period to return the dollar exchange rate back to the previous value,
explaining at the same time the impact of labor investment companies on the Iraqi economy.
"It is not possible to return the dollar exchange rate to what it was before, especially at the moment," al-Lami said, noting that
"according to economic laws and customs, we need at least five years between each exchange rate change and another". He added that
"the duration of the change in dollar rates must be less than five years,
otherwise Iraq will lose its credit standing among international investment and development companies," pointing out that
"these companies cannot keep up or keep pace with the changes taking place rapidly in Iraq because the capital is cowardly and needs security and safety.
The Economist explained that "rapid changes in the dollar prices will directly affect Iraq's belonging status abroad".
Earlier, the Ministry of Finance announced the actual start of the preparation of the budget law for 2023, indicating that
"the adjustment of the dollar exchange rate within the policies of the government and the Council of ministers is the one who makes the decision, but the budget has not yet been put forward".
Finance Minister Taif Sami said earlier that
"one of the most important priorities of the new government and the ministry is to submit the draft federal budget for the year ٢٠٢٣ and approve it. Finished/25R
An economist shows how long it is necessary to return the exchange rate.. These are his influences
October 31, 20:15
Information/ private..
The Economist Jalil al-Lami, on Monday, the necessary period to return the dollar exchange rate back to the previous value,
explaining at the same time the impact of labor investment companies on the Iraqi economy.
"It is not possible to return the dollar exchange rate to what it was before, especially at the moment," al-Lami said, noting that
"according to economic laws and customs, we need at least five years between each exchange rate change and another". He added that
"the duration of the change in dollar rates must be less than five years,
otherwise Iraq will lose its credit standing among international investment and development companies," pointing out that
"these companies cannot keep up or keep pace with the changes taking place rapidly in Iraq because the capital is cowardly and needs security and safety.
The Economist explained that "rapid changes in the dollar prices will directly affect Iraq's belonging status abroad".
Earlier, the Ministry of Finance announced the actual start of the preparation of the budget law for 2023, indicating that
"the adjustment of the dollar exchange rate within the policies of the government and the Council of ministers is the one who makes the decision, but the budget has not yet been put forward".
Finance Minister Taif Sami said earlier that
"one of the most important priorities of the new government and the ministry is to submit the draft federal budget for the year ٢٠٢٣ and approve it. Finished/25R
