PEC: raising the dollar rate saved 12 trillion to fill a part of the budget deficit

Economy

10-01-2021, 15:32

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Baghdad - INA

The Parliamentary Economic Committee confirmed that raising the dollar exchange rate saved 12 trillion dollars to fill part of the budget deficit, indicating that taking this step came because of the budget deficit, suggesting that the dollar exchange rate will not return to its old value.

A member of the committee, Ali Saadoun, told the Iraqi News Agency (INA): “Because of the slowdown in the economic file, a step has been taken to raise the value of the dollar’s exchange rate against the Iraqi dinar, to fill the deficit, which saved 12 trillion.”

He added, "The committee's meetings with Prime Minister Al-Kadhimi continue, as it gave some solutions that could contribute to modifying the economic situation in Iraq."