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How is the exchange rate stable? Sunday 12 September 2021 323 Yasser Al-Metwally The exchange rate of the dollar against the dinar stabilized at a price of 148 thousand dinars compared to the 100 dollars against the official price after raising it at the price of 145,000 dinars, and it is still slightly high. The question is what is the reason behind this stability? I see that the main reason behind this stability is due to the application of the theory of supply and demand for the first time in Iraq. The effects of the inflation that occurred due to the sudden change in the exchange rate became evident on the reality of the standard of living on all members of society without exception, even in varying proportions. And the poor segment was the most affected, and then followed by the middle class of retirees and employees, who are the vast majority in the country. One of the effects of inflation is the clear deflation, as the demand for most commodities decreased and cast a shadow on the market. Thus, there was a somewhat slowdown in the import process due to the weak demand, followed by a slight decrease in the demand for the dollar, so you find price stability evident these days. The objective of controlling the outlets and preventing the import of some commodities may have other partial effects on the stability of prices. This reality brings us back to the concept and role of consumer culture in the process of balancing prices in the market, how? If we have the ability to adopt a consumer culture that limits the apparent wastefulness in our consumer behavior, we will contribute to maintaining price stability. This means that government measures alone are unable to control the pace of prices unless accompanied by a balanced consumer culture by sacrificing some needs for a while, which will limit the The huge demand for hard currency with the aim of stabilizing the price and reducing it to less than the official rate. The second thing that will help to stabilize the exchange rate is for government agencies to control currency smuggling, and this matter needs great capabilities. Regarding the return of the official price to its previous era, I do not see the possibility of this in the short term. Rather, it needs time until the government controls the payment of its debts and the monetary reserve remains at the internationally accepted limits. For this, the citizen must deal with this reality and arm himself with a solid consumer culture that helps him and the state to achieve stability. We are also approaching a new stage after the elections, even if the picture is not yet clear until a new government is chosen and awaits its economic program, which will define the features of the stage and allow economists and analysts to determine the stages of stability and propose solutions to return prices to their previous era and stability to become parallel to the value of the Iraqi dinar. Waiting for how things will turn out, then every incident will have a talk, we will watch to see.
Smart economy Sunday 14th February 2021 31 Yasser Al-Metwally It seems that many difficulties are facing the treatment of unemployment in Iraq in light of the inflation in the size of public jobs, which exceeded the rates surveyed globally, compared to the size of the population and the state’s inability to absorb them, for reasons related to allocations and weak financial resources. While attempts are being made to revitalize the role of the private sector to absorb the greater part of unemployment, it is proceeding slowly due to the inefficiency of laws and encouraging procedures and the inappropriate business environment, which caused the migration of capital and its business owners, to search for safe investments in neighboring countries and elsewhere. Meanwhile, the pace of the shift towards the age of digitization (digital economy) is escalating. Perhaps the Corona pandemic contributed to creating a climate for acceptance of this transformation, and as quickly as expected around the world, as digital transactions have become prevalent in light of the imperatives to confront the pandemic, represented by distance and remote dealing through software and electronic applications In all economic, commercial and financial activities, whether within a particular country or between states. And let us separate this part and try to implement it in Iraq .. How? Statistics indicate that in Iraq there are more than five thousand graduates of software and application sciences, and many of them have remarkable capabilities in production. It is worth noting that Iraq is a founding member of the Arab League, and I find that its youth have priority in obtaining these services, and the issue requires them first to abandon the culture of relying on the state to obtain a job opportunity, in addition to being unable to absorb this huge amount of unemployment and absolute faith. Secondly, by building their country by entering the science of (smart economy), which means creative youth dependence on their own creative capabilities to obtain job opportunities that exceed their returns multiplied by double, for any salary they can get in any government job. As a member of the Advisory Council for Electronic Scientific Services, I will try to publish the mechanisms, means and stages of training courses, after consulting with the Chairman and members of the Council, in preparation for the start of organizing the training courses