February 25, 2021 | finance & economy

Finance Ministry Discusses Implications Of Exchange Rate And Rebalancing Economic Sector


Baghdad (NINA) - Minister of Finance Ali Abdul Amir Allawi chaired an expanded meeting to discuss the objectives achieved by changing the currency exchange rate.

The Ministry of Finance stated in a statement received by the National Iraqi News Agency / NINA / a copy of it: “During the meeting, the positive effects of changing the exchange rate of the dinar against the dollar and the effect of that step on restoring balance in the Iraqi economic reality burdened with challenges and obstacles, and protecting it from the risk of collapse were discussed.”

The statement added, 'The meeting discussed mechanisms to change the investment environment, support the private sector, and support industry and agriculture in line with corrective measures for the path of the national economy. Encouraging measures related to the work of the banking sector and its contribution to providing support for various productive sectors, as well as procedures for automating the tax and customs system and simplifying the overall operations were discussed.'

The minister listened to most of the problems raised by representatives of the private sector and industrialists, and stressed: 'The Ministry of Finance has taken several measures to support the effects of changing the exchange and is continuing to work on translating them effectively to protect the poor classes, in conjunction with the approaching vote of the House of Representatives on the draft of the general budget bill.'

The meeting was attended by the undersecretaries of the ministries of finance and planning, advisor to the office of the prime minister, Abdul Hussein al-Anbaki, the financial advisor to the Ministry of Finance, a number of general directors, heads of bodies, and a group of representatives from the private sector and industrialists.

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