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Iraqi banking expert: The government will benefit from stabilizing the exchange rate


A member of the Iraqi Parliamentary Finance Committee, Jamal Cougar, ruled out, on Friday, that the exchange rate of the dollar against the dinar would be changed during the current year, while indicating that the government could benefit from the rise in global oil prices to reduce the burdens on citizens.

 

Cougar said in an interview with Alsumaria News, "Talking about changing the exchange rate of the dollar against the dinar should be closed completely, at least during the current year, given that all the current budget figures are built on the current exchange rate."

Cougar added, "Any change in the price will affect the 30 trillion dinars included in the budget and allocated to investment projects, and any change, negatively or positively, will be affected either by the government or investors and contractors on new projects within the budget."

 

He continued, "The wise mechanism says to maintain the exchange rate for this year, and for the government to benefit from the rise in global oil prices and the state of stability that occurred in the government's financial situation in order to ease the burdens of citizens as a result of changing the exchange rate," adding that "the change in the exchange rate will be next year." .

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