A competent expert details the economic feasibility of returning to the old dollar exchange rate
Baghdad – NAS
Nabil al-Marsoumi, a professor of economics at Basra University, on Friday detailed the economic feasibility of returning to the old dollar exchange rate.
Al-Marsumi said in a blog post, followed by “Nass”, (October 21, 2022), “The increase in the exchange rate of the dollar against the dinar at the beginning of 2021 had a clear impact on the rise in the general level of prices, but it was not the only reason, but there were other reasons, including the Corona pandemic, which led to the closure of the global economy, damage to supply chains, high costs of shipping and transportation, and the state of global drought, which led to a significant increase in food prices as well as high energy prices in the world. The world and the Russo-Ukrainian war that led to a rise in the cost of production in most of the countries of the world that today suffer from inflation and the specter of economic stagnation.”
He added that “Therefore, the quest to reduce the price of the dollar against the dinar by 23% for the purpose of returning it to its previous level will lead to a small reduction in the level of internal prices in Iraq will not exceed 5%, because the rise in the price level was not only related to the change in the exchange rate but was related toa set of factors.”
He continued, “The flexibility of prices in the rise is great but limited in falling, and this is a fact known to all economists, so it is rare to find an Iraqi economist who supports the idea of returning to the old price due to its high costs and disastrous economic results without leading to a significant reduction in prices and improving the lives of the poor.”
“If politicians really care about the poor, they should find jobs for them, by diversifying the economy, developing it, improving services, developing the social protection system, and supporting the private sector instead of morphine with which they try to numb people by deluding them that their problem lies only in raising the exchange rate of the dollar and the solution is to return it to what it was,” he said.
After his exit from power, what will happen to Al-Kazemi’s relationship with Al-Sadr?
Today, Thursday, political analyst Nadim Al-Jabri inquired about the fate of Prime Minister Mustafa Al-Kazemi’s relationship after leaving the position with the leader of the Sadrist movement, Muqtada Al-Sadr.
Al-Jabri said in a televised statement, which was followed by (Baghdad Today), that “the leader of the Sadrist movement, Muqtada al-Sadr, was one of the most prominent supporters of Mustafa al-Kazemi’s survival in power, as he is the most important ally of al-Sadr.” And he added, “After the failure to recycle it, Prime Minister Mustafa Al-Kazemi, and as soon as the term of his rule expires, will be outside the alliance with the Sadrist movement.”
The Sadrist movement had earlier called on the political forces to dissolve the parliament after the resignation of its deputies and to keep the caretaker government headed by Mustafa Al-Kazemi until early parliamentary elections are held.
Will the street return to protests with the formation of the government?
After a discontented popular protest against the consensus government, leaks talk about passing the booth of the commissioner, Muhammad al-Shia al-Sudani, early next week, amid three proposed scenarios, the most prominent of which is the return of protests.
fter a heated popular protest, it ended with an official withdrawal from insidethe green ZoneThe political scene still exists in the form of consensus, despite the protests, and the framework government is on its way to being formed amid an attention-grabbing chest silence.
The booth of the commissioner, Muhammad Shiaa al-Sudani, is just around the corner from the parliament, which is preparing to vote on it during a session that is said to be held early next week, but the most important question is what are the Sadrists’ reactions to the consensus government and October, which came out three years ago in rejection of a political system built on the basis of quotas and sharing the cake.
The answer to this question does not bear many interpretations. The upcoming scenarios are according to political expectations that are clear as the sun and will not be covered by a sieve, the first of which is an agreement to give the Sudanese government an opportunity to start its government program and then evaluate and judge its performance.
As for the second scenario, it talks about the possibility of successful mediation and bridge negotiations between the framework forces and the current by giving guarantees, most notably early elections after a year and a half or two years after the formation of the government. As for the third scenario, which may coincide with the commemoration of the third anniversary of the start of the October revolution on the twenty-fifth of this month. which may continue to share followers Sadrist Movement Rejection of the Sudanese booth. link
Source: Dinar Recaps
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