Baghdad The Expert in Economic Affairs, Malaz Al-Amin, confirmed that the local market faces a great challenge as a result of the high exchange rate of the dollar compared to the dinar.

Al-Amin said in a statement to the National Iraqi News Agency (NINA) that “this rise and the lack of control over it by the Central Bank will encourage traders and speculators to raise the prices of basic foodstuffs, which will cause harm to the poor and the earners.

He added that it requires the government and the Central Bank in particular to work seriously to maintain the exchange rates, especially since Iraq’s financial revenues from selling oil have increased with the rise in crude prices in the global market to nearly $70.

He continued that the central bank can increase the pumping of dollar quantities into the market to control an appropriate dollar exchange rate at the same time. The government should continue its support for the poor through the ration card, provide new job opportunities for the unemployed, and stimulate the private sector, especially the productive ones, such as agricultural, industrial and tourism, as well as transportation and others.

Source: National Iraqi News Agency