Saleh sets the conditions for the dinar’s rise against the dollar
Baghdad / Al-Mawrid News – Today, Friday, the Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, pledged an improvement in the value of the dinar on several conditions that must be met and achieved, while determining the rate of high inflation in the country.
Saleh said, in a press statement, that “the improvement in the value of the Iraqi dinar is related to the economy’s ability to grow if significant growth is achieved in the economy and not rentier growth,” noting that “expectations indicate a current growth of 2.5%, and this growth corresponds to real population growth.”
He added that “this needs the right development, reducing unemployment, increasing job opportunities, and flourishing investment projects, which encourage and generate income that compensates for oil, and gives sustainability in returns, and sustainability with the strength of the economy,” noting that “there are two important things, the first is monetary policy that maintains On the stability of the exchange rate, and create a stable environment for a long period, and the second is to support investment projects for development and achieve growth, because without growth the situation will be bad.”
Regarding the rate of inflation, Saleh explained that “there are two types of goods, tradable goods, most of which are imported and linked to the exchange rate, and non-tradable goods, which are local such as services and others,” stressing by saying, “If we collect tradable and non-tradable goods, we will find that Inflation did not increase more than 6%, and therefore it is considered reasonable and controlled inflation compared to the significant devaluation of the dinar.