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AnnmarieF
@AnnmarieMo64264
Iraqi Prime Minister Ali al-Zaidi, speaking in parliament about changing the dollar exchange rate.
“We took over the government in dire circumstances, with an economy under siege. I came to speak with you only about the economic side, and specifically this point: the exchange rate. Iraq exports one product, through one outlet. Under these harsh conditions we faced three options.
The first: deduct 25 to 30 percent from the employee’s salary, under the name of compulsory saving, and live on promises.
The second: every 40 to 50 days, delay paying salaries. They said this had already been tried in certain places.
The third: borrow from abroad. There is not enough for salaries and essential spending. We inherited a debt of 288 trillion, which would mean doubling it. Our goal and program is to reduce the debt, not increase it.
The options in front of us were all bitter. Previous governments lived through unhealthy conditions. We inherited an empty treasury. Brothers, we inherited debt, not money, and a heavy country. What we need is about 10 trillion and change every month, for salaries and essential spending. We did not let the citizen feel this crisis. We did not want to create panic, and at the same time we did not want to sugarcoat it. That is my duty. It is my responsibility.
Some people run from the exchange rate. It rose from 1,320 to 1,520. That responsibility is mine alone. If it is negative, I bear the blame. If it is positive, the cabinet that voted for it, and all of you and every political force, are partners in it. No one else has anything to do with the rise in the exchange rate. That responsibility is mine alone.
We used to sell at 1,320, while the market was at 1,600. We raised it to 1,520, and the market today is at 1,640. Those 200 points I did not take from the citizen. I took them from the speculator — the same way we took money from the c*****t and used it for some of the state’s needs. This campaign against us I consider a defense of the speculators. We raised the rate and pulled that gap away from the speculators, not from the state budgets.
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The other point: next month we will double the release of farmers’ dues, and double the release of contractors’ dues. We are also on a path to build one million housing units that did not cost the state a single dinar.
On Saturday, God willing, we will lay the foundation stone in the first province, holy Karbala, then in holy Najaf, then Mosul, and likewise across all of Iraq’s provinces — one million housing units. Also new cities we have started. Land used to be handed out for investment and thousands of people came. We built the infrastructure, and we will sell it, and the proceeds will go into a generations fund.
If you have another option better than the one I took, I am listening. But do not tell me to leave the employee 25 days without a salary. Do not tell me to cut 25 to 30 percent from salaries and live on promises. I do not accept those solutions. And do not tell me to borrow and load debt onto future generations. Those I do not accept.”
Source(s):
• https://x.com/AnnmarieMo64264/status/2108353571355800044
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