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An expert proposes solutions to limit the rise in the dollar in the parallel market
Economical 2023/08/19
Baghdad: Haider Fleeh Al-Rubaie,
the economist, Munaf Al-Sayegh, proposed a set of solutions to control the parallel exchange rate and undermine the dollar, pointing out that
the presence of two different exchange rates could confuse the local market and lead to a kind of imbalance in economic performance, while
he praised the targeted measures In order to limit the rise of the green currency in the parallel market,
he called for "liberalizing the exchange rate" in accordance with the levels of supply and demand and foreign trade activity, as well as working to change the pattern of the balance of payments and the trade balance.
According to specialists in economic affairs, the Central Bank succeeded in controlling the exchange rate of the parallel dollar, and put an end to the booms that that currency witnessed in previous times, indicating that
the packages of decisions issued by the monetary authority led to strengthening confidence in the national currency, stressing at the same time,
The fluctuation of the exchange rate is no longer an influencing factor in the prices of goods and materials that are now imported at the official price of the Central Bank. Al-Sayegh told "Al-Sabah":
"The presence of two different exchange rates leads to a negative impact on economic performance,
especially if it is linked to the pattern of consumption activity and thus will undermine government efforts aimed at enhancing its ability to provide quality services," stressing the
need to "establish development paths that work on Diversifying economic activity in line with the urgent requirements of society, such as continuous energy, efficient education, health institutions, as well as the provision of high-quality services, indicating that
these steps are sufficient to achieve an active and flexible economy capable of constantly diversifying while creating sustainable development opportunities and diverse and renewable job opportunities within the requirements of economic performance and its obligations. local and international.”
In order to find remedies for the economic effects of the existence of two different exchange rates for the local currency, the jeweler believes that the exchange rate must be liberalized in a flexible manner, according to the levels of supply and demand, as well as the levels of commercial activity of foreign trade, in addition to the need to work to change the pattern of the balance of payments and the trade balance in a way that leads to its transformation Gradually from negative to positive.
Al-Sayegh also stressed the importance of changing the spending pattern in the budget towards the productive investment that leads to serious development paths, taking into account the change in foreign trade patterns from consumer goods to productive goods linked to a specific economic activity, as well as the trend towards making a fundamental change in the pattern of performance and activity. Finance for public and private banks, enhancing the efficiency of government programs aimed at pushing development projects that support economic activity in general, and expanding small and medium entrepreneurial projects among young people.
https://alsabaah.iq/82642-.html
Economical 2023/08/19
Baghdad: Haider Fleeh Al-Rubaie,
the economist, Munaf Al-Sayegh, proposed a set of solutions to control the parallel exchange rate and undermine the dollar, pointing out that
the presence of two different exchange rates could confuse the local market and lead to a kind of imbalance in economic performance, while
he praised the targeted measures In order to limit the rise of the green currency in the parallel market,
he called for "liberalizing the exchange rate" in accordance with the levels of supply and demand and foreign trade activity, as well as working to change the pattern of the balance of payments and the trade balance.
According to specialists in economic affairs, the Central Bank succeeded in controlling the exchange rate of the parallel dollar, and put an end to the booms that that currency witnessed in previous times, indicating that
the packages of decisions issued by the monetary authority led to strengthening confidence in the national currency, stressing at the same time,
The fluctuation of the exchange rate is no longer an influencing factor in the prices of goods and materials that are now imported at the official price of the Central Bank. Al-Sayegh told "Al-Sabah":
"The presence of two different exchange rates leads to a negative impact on economic performance,
especially if it is linked to the pattern of consumption activity and thus will undermine government efforts aimed at enhancing its ability to provide quality services," stressing the
need to "establish development paths that work on Diversifying economic activity in line with the urgent requirements of society, such as continuous energy, efficient education, health institutions, as well as the provision of high-quality services, indicating that
these steps are sufficient to achieve an active and flexible economy capable of constantly diversifying while creating sustainable development opportunities and diverse and renewable job opportunities within the requirements of economic performance and its obligations. local and international.”
In order to find remedies for the economic effects of the existence of two different exchange rates for the local currency, the jeweler believes that the exchange rate must be liberalized in a flexible manner, according to the levels of supply and demand, as well as the levels of commercial activity of foreign trade, in addition to the need to work to change the pattern of the balance of payments and the trade balance in a way that leads to its transformation Gradually from negative to positive.
Al-Sayegh also stressed the importance of changing the spending pattern in the budget towards the productive investment that leads to serious development paths, taking into account the change in foreign trade patterns from consumer goods to productive goods linked to a specific economic activity, as well as the trend towards making a fundamental change in the pattern of performance and activity. Finance for public and private banks, enhancing the efficiency of government programs aimed at pushing development projects that support economic activity in general, and expanding small and medium entrepreneurial projects among young people.
https://alsabaah.iq/82642-.html
