There are no government solutions to the price hike crisis in the Iraqi market

[yota691]

There are no government solutions to the price hike crisis in the Iraqi market

 

Baghdad

 

September 10, 2021

 

 

Specialists warn that the exorbitant price hike will exacerbate poverty in the country (AFP)

 

Iraqi citizens called on the government of Prime Minister Mustafa Al-Kazemi to intervene to control the market, which is witnessing a significant rise in prices, especially for imported goods, while specialists warned that this would exacerbate poverty in the country.

Since the beginning of this year, the Iraqi market has witnessed an increase in the prices of food, construction and various consumer items, following the Central Bank's decision to reduce the value of the dinar against the dollar by 1450 dinars to the dollar.

But the exchange rates jumped to about 1500 dinars per dollar due to the continuation of speculation in the stock market in Baghdad, while the rates of price hikes reached their peak during the last month by about 40% in some materials, especially construction and electrical, in addition to the increase in the prices of vegetables, foodstuffs and medicines.

A member of the Baghdad Chamber of Commerce, Hazem Al-Ali, confirmed that “the rise in prices has become very dangerous today, and that the lack of government intervention gave traders the opportunity to manipulate the market,” noting to “Al-Araby Al-Jadeed” that “traders are invoking the rise in the price of the dollar against the Iraqi dinar, and that the citizen does not He finds an alternative to buying, whatever the prices, and this is an opportunity to make gains for traders and those who control the market."

He pointed out that "the citizen has become a victim of failed economic policies and the greed of merchants."

Government officials hold the responsibility for the confusion in market prices and the lack of control over them. A member of the Economic Committee in the former parliament, Harith Al-Harthy, told Al-Araby Al-Jadeed, “The traders are not only blamed, especially since the government’s action to reduce the Iraqi dinar against the dollar opened the door to Manipulation of prices in the country," stressing that "the rise has become a heavy burden on citizens, and that the import process takes place without any serious planning to control prices, and that most of the materials and the rise continue."

 

 

He stressed that "there are parties that want to make gains from that rise, and that parties and merchants are benefiting from that, and today it is easier for them to collect money than it was in the past," stressing that "the Ministry of Commerce bears a large part of the responsibility because of its incorrect policies, which contribute to raising prices.

He called for "a government move to reduce prices, especially since the people are suffering from that rise, and that the government and its decisions were placed on the shoulders of the Iraqi citizen, who is already suffering from poverty and destitution."

Specialists in economic affairs have linked the price hike to achieving gains for influential political and partisan parties in the state, which impedes any government monitoring process to control the market.

Who is manipulating prices in Iraq?

The expert in economic affairs, Basem Jamil Antoine, said, "If there was monitoring and follow-up by the regulatory agencies, traders would not have been able to manipulate prices," explaining to Al-Araby Al-Jadeed, "The government can control prices if it wants to, but the largest traders in the country are From the political class, and they are the ones who exploit the market and control prices to achieve profits and they adopt parasitic classes in the market, which are harnessed for this purpose, and these are the beneficiaries of the price increase, and they manipulate without government oversight.

 

 

The rise in prices forced many families to dispense with many of their needs, due to their weak purchasing power. Citizen Muhammad al-Zaidi, a government employee, told Al-Araby Al-Jadeed, “Today we started to dispense with many semi-necessary needs, so that we can buy necessities such as food. and medicine.”

He stressed that "the purchasing power of the simple citizen has become very weak, and that the government's continued neglect of this file will have major repercussions on families, especially those with limited income."

[screwball]

yes there is called  "remove the zeros"

[horsesoldier]

I’m calling  here with this feeble excuse of the sky is falling.