Raising Or Lowering The Currency Exchange Rate Is The Exclusive Authority Of The Government
The Independent / – Member of Parliament for the Saeron Alliance, Riad Al-Masoudi, affirmed that “raising or lowering the currency exchange rate is the exclusive authority of the government according to the law and the constitution.”
Al-Masoudi said in a press statement by the Independent: “Articles 78 and 80 are clear about the government’s authority to manage the country, economic planning and financial policy, which are all exclusive to the executive authority.”
He added, “The raising or lowering of the currency rate is an exclusive prerogative and part of the government’s measures to reform the economy.”
Al-Masoudi explained: “The role of the House of Representatives is legislative, supervisory and representative exclusively in accordance with Article 68 and its constitutional paragraphs.”
He pointed out: “The parliament’s role in terms of collecting signatures, either issuing representative orders to form committees or issuing decisions on a specific issue, which are not binding and give the representative opinion of Parliament.”
It is noteworthy that the parliamentary signatures exceeded 100 signatures requesting the government to reconsider reducing the price of the local currency against foreign currencies.