March 25, 2021 | banking

Al-Shamaa: Any Decision By Parliament To Change The Exchange Rate Is Not Binding


Baghdad / NINA /- The advisor to the Speaker of Parliament for Economic Affairs, Hammam Al-Shamaa, confirmed that: The government has changed the exchange rate through the Ministry of Finance by pressing the Central Bank according to the white paper.

He told the National Iraqi News Agency (NINA) that: The government will not return the exchange rate to what it was previously, even if there is a parliamentary decision because it is a non-binding decision from the constitutional point of view because Parliament cannot interfere with the work of the government.

Al-Shamaa added that: Parliament's jurisdiction is to legislate the budget provided by the government, so it cannot pressure to return the exchange rate to its position, even if parliament issued the budget law, including changing the exchange rate, the government and the central bank can appeal to the Federal Court that the budget is in violation of the constitution.

Blocs and political forces and popular and economic actors are calling for the return of the dollar’s exchange rate to its old status after the current exchange rate caused an increase in the prices of basic products that affected low-income people and families under the poverty line in particular.

ninanews

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