Al-Abbadi's economic advisor accuses parties of working to devalue the dinar
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    Al-Abbadi's economic advisor accuses parties of working to devalue the dinar

    Al-Abbadi's economic advisor accuses parties of working to devalue the dinar



    Release Date: 19 May 2017 • 63 times scheduled • 18:30

    Al-Abbadi's economic advisor accuses parties of working to devalue the dinar
    (Baghdad: Al-Furat News) accused the economic adviser to Prime Minister Haider al-Abbadi, on Friday, the parties (not called) to promote the idea of ​​deterioration of the exchange rate of the Iraqi dinar against the dollar.

    The appearance of Mohammed Saleh, in a press statement, "Unfortunately there are parties and personalities working to promote the idea of ​​deterioration of the Iraqi dinar exchange rate and the deterioration of the standard of living and stability to impose an urgent monetary tax affecting all segments of the population is inflation and the deliberate deterioration of the standard of living in order to The state is blocking some of its deficit without thinking about generating revenues from outside the oil revenues. "

    He pointed out that "the devaluation of the Iraqi currency through the reduction of the exchange rate of the dinar against the dollar, for example, will add destructive consequences in the negative impact of deepening the financial crisis, a new crisis of inflation in the general level of prices and generates the possibility of inflationary recession, worsening the economic situation and common The deliberate discontent at a time when we are fighting the war on terror and we desperately need the fundamentals of economic stability. "

    Saleh said, "And here will enter the country with three crises, a financial crisis does not solve the methods of monetary policy as fast as the reduction of the Iraqi dinar exchange rate as desired by the dollar campaign and the dollar and dollar giants of the rich, who fights the power of the people and the misery of the poor and low-income classes, and the second crisis of inflation in prices and deterioration of stability Economic deterioration resulting from the deterioration of the exchange rate against foreign currency and reduce the purchasing power of pensions and incomes of citizens because of inflationary expectations and the spread of uncertainty and distrust of the Iraqi dinar.

    "The third crisis will be a security crisis because of terrorism and the war on an oppressor," he said, adding that "the loser is the people and the winner of the devaluation of the dinar are the rich dollar and terrorism."

    The prime minister's adviser pointed out that "the inflation in the areas of dodging and the high rates of price inflation there to 3 decimal places and the deterioration of the standard of living has accelerated the victory over the stability of the standard of living in the rest of Iraq, the smart economic war exercised by the economic leadership to achieve a speedy victory."

    "The government has reduced its non-basic expenses, absurd and frivolous, and this is true, but it has not exercised an absolute austerity policy such as reducing salaries, pensions or welfare, war expenses and the necessary investment process. The internal and external borrowing process to finance the budget deficit is a process that is not" Some claim, but rather a stimulus and expansionism that fights deflation. "

    "Deflationary budgets that lead to economic stagnation are usually those where the budget is balanced by a level of expenditure that is less compatible with the possible revenues, which are really deflationary budgets," he said. "But deficits that are built on a deficit and financed by borrowing are expansionary budgets of nature, Current fiscal policy in Iraq ".

    "External borrowing is like any other external resources, such as oil revenues, in terms of the expansionary effect of calculating external inflows," he said. On public spending and on the expansion of the monetary bloc in accordance with mechanisms known to specialists in monetary policy.

    "The promotion of controversial economic issues in a time of war and victory over terrorism is a miserable transformation of a group of haters who want to weaken the state and spread despair," he stressed, noting that "there is a process of programmed ignorance of the Iraqi street to dispel despair, The work promoted by forces driven by suspicious negative in positive circumstances is the financial victory and get out of the bottleneck, as well as the military victory and liberate the land and man from the clutches of terrorism. "

    Prime Minister Haider al-Abadi said on April 1 that "the financial crisis did not lead to the collapse of the dinar or to a large inflation in prices."

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    Last edited by MadDScout; 05-19-2017 at 04:53 PM.



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