Expert: the distribution of salaries in dollars threat to the country's economy


Sunday November 15.2015

Description specialist in economic Maitham Laibi regard, proposed salaries of state employees distribution "to the dollar as a" proposal "improper" and move that threatens the national economy.

He said Laibi the National Iraqi News Agency / Nina / that "the Parliamentary Finance Committee proposed to the government the distribution of part of the employees' salaries in dollars , but this proposal is sound, and will reflect negatively on the central bank in particular, and on the state budget in general.

"He said," The distribution of salaries in dollars will lead to the loss represented by the central bank monetary policy, which one of the most important functions to control the money supply, the exchange rate, indicating that the move will increase the "dollarization" operations mean lower retention Dinars operations as a store of value.

"Ray and coffee," It is not certain that the decline in demand for the dollar at an auction going on the currency in the event of state salaries in dollars distribution.

"He added," The speculators and the bankers will continue to speculate on Dollar for the purposes of achieving quick profits, expected to increase the difference between the exchange purchase price of the dollar by speculators and the price at which employees receive a dollar basis.

"The parliamentary Finance Committee suggested to the distribution ratio (50%) of the salaries of state employees in hard currency to prevent the monopoly of the US dollar for views It is certain to support the Iraqi dinar exchange rate.