The Council of Ministers approves the amendment of the exchange rate of the dollar, equivalent to 1,300 dinars

[Half Crazy Runner]

34 minutes ago, 6ly410 said:

"Wait for the next package of the process of reforming the Iraqi economy,"

        

[6ly410]

Comment from the Governor of the Central Bank on the decision to reduce the exchange rate

2023.02.07 - 17:41

Comment from the Governor of the Central Bank on the decision to reduce the exchange rate (nasnews.com)

 

Baghdad - Nas   

The Governor of the Central Bank, Ali Al-Alaq, on Tuesday, thanked the Prime Minister and members of the Council of Ministers for approving the decision to reduce the exchange rate of the dollar.  

 

  

Al-Alaq said in a statement received by NAS (February 7, 2023), "I extend my sincere thanks and gratitude for the rapid response to the decision of the Central Bank of Iraq to reduce the exchange rate of the dollar in order to ease the burdens of citizens."  

  

Earlier today, the Council of Ministers approved the decision to amend the dollar exchange rate by the equivalent of 1300,<> dinars.  

  

The Prime Minister's Information Office said in a statement received by NAS (February 7, 2023), that "the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to 1300 dinars to the dollar."   

  

[6ly410]

Just now, Half Crazy Runner said:

        

[6ly410]

 

[dinardiggerisme]

Thanks for the news...we will wait!

👍

[6ly410]

Iraqi dinar value to be restored to highest level in three years

IRAQ

 

ERBIL, Kurdistan Region - Iraq on Tuesday restored the exchange rate of $1 to 1,300 IQD, the highest value for the Iraqi currency since 2020.

The rise in value came after the Iraqi council of ministers approved a decision from the board of directors of the Central Bank to set the mentioned exchange rate, after months of an ongoing depreciation led to a surge in prices of basic goods and consequent outcry of the Iraqi public.

Less than an hour after the decision from the council of ministers was announced, the exchange rate of $1 went from 1,560 IQD to 1,440 IQD on the currency markets of Iraq and the Kurdistan Region.

“We affirm our support for these efforts to alleviate the burden of the people, and we call on the government to tighten surveillance over merchants and exchange rate manipulators to control the market,” said Muhsin al-Mandalawi, first deputy speaker of the Iraqi parliament, also calling on the government to hasten the submission of the fiscal budget at the new price.

Iraq did not pass a budget in 2022 due to its inability to form a government for a year following the October 2021 elections.

The value of a dollar was placed at 1,750 IQD in the currency markets of Iraq and the Kurdistan Region last week, the highest exchange rate during the recent depreciation.

The drop of the Iraqi dinar was attributed to corruption, smuggling dollars out of Iraq, and pressure from the United States.

The Iraqi Central Bank in late 2020 devalued the dinar against the US dollar by 22 percent, dropping it from 1,182 IQD to 1,450 IQD and sparking public outrage. The devaluation came in an effort to combat a national liquidity crisis and bring in much-needed cash to the government’s coffers.

[6ly410]

Appreciating the reduction in the price of the dollar.. Khazali: We hope that the process of correcting the course and fighting corruption will continue

Tuesday 07 February 2023 18:33 | politicalNumber of readings: 28

Appreciating the reduction of the dollar rate. Al-Khazali: We hope that the operations to correct the course and fight corruption will continue (ninanews-com.translate.goog)

Baghdad / NINA / - The leader of Asa'ib Ahl al-Haq, Sheikh Qais al-Khazali, praised the government's decision to reduce the exchange rate of the dollar.

Al-Khazali said in a tweet: "We salute Prime Minister Muhammad Shia Al-Sudani and his esteemed government for the important and courageous step in reducing the price of the dollar."

He expressed his hope that the process of correcting the path, fighting corruption and providing services to the Iraqis would continue. /

[Danishere4news2]

On twitter there is an interesting Mideast update. I would post the link, but not sure if allowed or how accurate. I will however bring in the headline.

 

Panic selling USD as Iraqis try to get rid of their dollars after Central Bank of Iraq successful measure to reinstate IQD value

 

 

[6ly410]

 

[Danishere4news2]

Just now, Danishere4news2 said:

On twitter there is an interesting Mideast update. I would post the link, but not sure if allowed or how accurate. I will however bring in the headline.

 

Panic selling USD as Iraqis try to get rid of their dollars after Central Bank of Iraq successful measure to reinstate IQD value

 

 

As I had said in a previous post. One could say that with all of Iraq's untapped wealth/resources, their currency is stronger than the USD. With that said, because of where their value is currently, even with the new value, they have less purchasing power. Which makes this update if accurate, even more interesting & highly encouraging

[6ly410]

 

Parliament calls on the government to expedite the submission of the budget according to the new exchange rate

Posted 31 seconds ago

 Parliament calls on the government to speed up the submission of the budget according to the new exchange rate - Iraq news (iraqakhbar-com.translate.goog)

 

news source /Tigris channel

 

Today, Tuesday, the First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, called on the government to present the budget according to the new dollar exchange rate, calling on it to tighten control over merchants and exchange rate manipulators to control the market.

Al-Mandalawi said in a tweet on Twitter: “We appreciate the cabinet’s approval of the decision of the Central Bank’s board of directors to adjust the exchange rate of the dollar against the dinar, and we affirm our support for these efforts to relieve the burden of the people.”

Al-Mandalawi asked the government to “tighten control over merchants and exchange rate manipulators to control the market,” calling on it to “expedite the submission of the budget according to the new price.”

Today, Tuesday, the Council of Ministers approved a change in the exchange rate, equivalent to 1,300 dinars to one dollar.

[6ly410]

Parliamentary Economy: Two Main Actors Responsible for Raising and Lowering the Dollar

•  Time : 2023/02/07 18:39:21
•  
•  Parliamentary Economy: Two main parties bear the responsibility of raising and lowering the price of the dollar - Al-Furat News (alforatnews.iq)

  

{Politics: Al-Furat News} The Parliamentary Economic Committee on Tuesday held the Ministry of Finance and the Central Bank of Iraq responsible for raising and lowering the dollar exchange rate.

 

Committee member Burhan al-Mamouri told Al-Furat News: "Today's decision is similar to what happened in the previous session, when the Central Bank raised the dollar exchange rate and took responsibility for the decision and monetary policy."
"When the previous government was asked, it was confirmed that monetary policy was the responsibility of the central bank," he recalled.
Mamouri pointed to "the responsibility of the Central Bank to bear the decision to raise and lower the exchange rate, as well as the Ministry of Finance bears the same responsibility."
The Council of Ministers approved in its meeting held today, Tuesday, the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to 1300 dinars to the dollar.

By: Raghad Daham

[6ly410]

Al-Alaq thanks Al-Sudani for lowering the price of the dollar: Your response is quick

Al-Alaq thanks Al-Sudani for lowering the price of the dollar: Your response is fast - Shafaq News

2023-02-07 07:43

 

 

On Tuesday, the Governor of the Central Bank Ali Al-Alaq thanked the Prime Minister and members of the Council of Ministers for approving the decision to reduce the dollar exchange rate.

Al-Alaq said in a statement received by Shafaq News Agency; "I extend my sincere thanks and gratitude for the rapid response to the decision of the Central Bank of Iraq to reduce the exchange rate of the dollar in order to relieve the burdens of citizens."

 

Earlier on Tuesday, the cabinet approved the amendment of the US dollar exchange rate to be at 1300,<> dinars.

A brief statement by the Media Office of the Council of Ministers, reported to Shafaq News Agency, said that the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to 1300 dinars to the dollar.

This comes after the exchange rate of the dollar against the dinar rose to unprecedented levels, as it exceeded on some days the rate of 1800 dinars per dollar.

Since the first month of the new government's administration, the exchange rate of the US dollar against the Iraqi dinar has risen exponentially to exceed 1500,<> dinars to the dollar before the end of last year.

Since the beginning of this year, the dollar exchange rate has witnessed sudden jumps, as it exceeded the threshold of 1600 dinars to the dollar and remained ranging during the month of January last year in the 1600 square, but during the month of February, the dollar exceeded the barrier of 1700 dinars and approached in some days 1800 dinars per dollar.

These booms and fluctuations prompted the government and the Central Bank of Iraq to take several measures in an attempt to control the exchange rate, but they have not achieved anything so far, while some argue that the dollar exchange rate may continue to rise.

[6ly410]

The Iraqi government has decreased 100 dollars from 146 thousand dinars to 130 The Iraqi Council of Ministers and the Central Bank agreed to lower the US dollar's value to the Iraqi dinar and 100 us dollars from 146,130 dinars to <>,<> dinars. #Currency

[6ly410]

The Iraqi government has made another decision in the interest of the region

[6ly410]

Iraqi cabinet adopts new exchange rate for the U.S. dollar

• Amr Salem
•  February 7, 2023
• Iraqi cabinet adopts new exchange rate for the U.S. dollar - Iraqi News

U.S. dollars and Iraqi dinars. Photo: Alsharqiya

Baghdad (IraqiNews.com) – The Iraqi Council of Ministers approved on Tuesday the decision of the Central Bank of Iraq (CBI) to amend the exchange rate of the U.S. dollar against the dinar, to be 1,300 dinars against one U.S. dollar.

Advisor to the Iraqi Prime Minister, Fadi Al-Shammari, considered the decision to adjust the exchange rate a step to achieve a promising economy and sustainable development.

“The Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the U.S. dollar against the Iraqi dinar, to be 1,300 dinars to one U.S. dollar,” Al-Shammari stated.

Earlier on Tuesday, the Iraqi Council of Ministers held its regular session, chaired by the Prime Minister, Mohammed Shia Al-Sudani.

The previous official exchange rate was 1450 dinars to one U.S. dollar, and a few days ago, the U.S. dollar was being exchanged in the black market at rate of 1550 dinars.

In January, the exchange rate of the U.S. dollar against the local currency recently reached 1610 dinars per dollar, while the official exchange rate remained 1459 dinars per dollar, with a gap between the two exchange rates of more than 10 percent.

In late January, demonstrations took place in front of the Central Bank of Iraq (CBI) in the capital, Baghdad, to protest against the high exchange rate of the U.S. dollar.

The protesters demanded the Iraqi government to intervene urgently to limit the rise in the exchange rate against the U.S. dollar.

[rvmydinar]

1 hour ago, 6ly410 said:

Iraqi dinar value to be restored to highest level in three years

Three years means 2023+3=year 2026? So should we wait until 2026 for the iqd to RV at a single digit number? What could the highest rate be in 2026 then? Hopefully not 1,460 or 1,300 or 1,190.

[6ly410]

 

Political support for the Cabinet's decision to reduce the exchange rate of the dollar

Posted 5 seconds ago

 

Political support for the decision of the Council of Ministers to reduce the exchange rate of the dollar - Iraq news (iraqakhbar-com.translate.goog)

 

news source /Iraqi News Agency (INA)

 

BAGHDAD — Iraqi political leaders and partieshave welcomed the cabinet's decision to reduce the exchange rate to 1300,<> dinars to the dollar.

To receive more news, subscribe to our channel on telegram

And the Secretary-General of the League of the Righteous, Sheikh Qais Khazali, wrote in a tweet, seen by the Iraqi News Agency (INA), that “we salute the Prime Minister Muhammad Shia’ al-Sudani and his esteemed government for the important and courageous step of the decision to reduce the exchange rate of the dollar to 1,300 dinars, ” indicating, “that” Reducing the dollar has put things back in order, in the service of Iraq and its people .” Al-Khazali concluded his tweet, “The devaluation of the dollar proved what we have talked about over and over again, that the sudden increase in the exchange rate that the previous government carried out without putting in place real remedies for the segment of the poor and those with limited income, has increased the suffering of the Iraqi people, hoping that the course correction processes will continue, And fighting corruption, and providing services to Iraqis .”




He continued, "The government's decision will enhance the people's confidence in it, and its capabilities to manage crises, and protect the citizens' livelihood and interests, which we have always stressed the need to strengthen the partnership of the state and the people." noting that "all our successful experiences were achieved when the state and the people met on one goal He called on the people to "trust and support their currency and be careful not to deal with others except for urgent necessity In turn, the head of the Victory Coalition, Haider al-Abadi, said in a tweet on his Twitter account and followed by the Iraqi News Agency (INA), "I strongly support the government's courageous decision to raise the exchange rate of the dinar in favor of the citizen, and we had called for that


"I call for addressing the fiscal deficit in the budget by rationalizing spending, boosting investment and creating job opportunities, strengthening the national product, improving the trade balance and external payments, preventing currency smuggling, and fighting corruption and waste," he added.

The Islamic Dawa Party issued a statement welcoming the decision.

The party said in its statement and received by the Iraqi News Agency (INA), “The Islamic Dawa Party praises the recent measures of the government, which contributed to reducing the exchange rate of the dollar against the dinar, and the Secretary-General of the party, Nouri al-Maliki, was following this file with great interest, and has long repeated the request and appeal for the need to address this significant rise in the dollar exchange rate.”

He added, "Today, when what we were calling for and striving for is achieved, we stress the importance of the results of the decline and the measures taken being reflected positively on the prices of food and other commodities, and on the standard of living of the poor and middle classes of our honorable people, who have suffered a lot during the past months."

And the statement continued, "We promise our dear citizens that we will be with them and by their side in everything that eases their burden, facilitates the provision of services to them, and provides them with the necessities of their lives with pride and dignity."
Today, Tuesday, the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to adjust the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars per dollar .

[6ly410]

Al-Sudani advises the Iraqis about the dollar and reiterates: the dinar is stronger

Posted 31 seconds ago

 

Al-Sudani advises the Iraqis about the dollar and reaffirms: The dinar is stronger - Iraq news (iraqakhbar-com.translate.goog)

 

News Source /Al-Sumaria Channel

 

Sudani: We stopped future appointments and funded the SmallProjects Fund Sudani: I advise citizens not to buy dollars

 

The weekly press conference of the Council of Ministers

[6ly410]

Abadi: I strongly support the government's courageous decision to raise the exchange rate of the dinar for the benefit of the citizen

Tue 07, Feb 2023 19:36 |PoliticalViews: 67

Abadi: I strongly support the government's courageous decision to raise the exchange rate of the dinar for the benefit of the citizen (ninanews-com.translate.goog)

Bagdad (Nina) - The head of the Victory Coalition, Haider al-Abadi, strongly supported the government's courageous decision to raise the exchange rate of the dinar in favor of the citizen. In a tweet on Twitter, he called for addressing the fiscal deficit in the budget by rationalizing spending, promoting investment, creating job opportunities, enhancing the national product, improving the trade balance and external payments, preventing currency smuggling, and fighting corruption and waste. /End9
 

[6ly410]

Cabinet votes to install new batch of contracts

Tuesday 07, February 2023 19:53 |PoliticalViews: 30

Cabinet votes to install new batch of contracts (ninanews-com.translate.goog)

Baghdad /Nina/ The Council of Ministers voted to confirm a new batch of contracts./Finished 9

[6ly410]

Iraqi Government Issues Number of New Decisions - Urgent

 

| Policy Today, 19:58 | 

The Iraqi government issues a number of new decisions - Urgent » Baghdad Today News Agency

    

Baghdad Today -

The Council of Ministers holds its sixth regular session under the chairmanship of the Prime Minister, Mr. Mohammed Shia Al-Sudani

••••••••••

 

Prime Minister Mohamed Shia Al-Sudani chaired, on Tuesday, the sixth regular session of the Council of Ministers, during which they discussed various issues and developments in the country, discussed the topics on the agenda and issued decisions and recommendations thereon.

 

The session discussed the repercussions of the rise in the dollar exchange rate in the market, and its negative repercussions on the general reality in the country. In order to mitigate its effects on citizens and various economic sectors, the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, as follows:

 

-    1300 dinars to the dollar purchase price from the Ministry of Finance.

-    1310 dinars to the dollar selling price to banks

-    1320 dinars to the dollar the selling price by banks and non-bank financial institutions to the final beneficiary.

 

Based on Iraq's position of solidarity with the victims of the earthquake that struck Turkey and Syria yesterday, the Council of Ministers approved the purchase by the Ministry of Migration and Displacement of relief, supplies and health materials in the amount of three billion dinars, from emergency security allocations, as an exception to the contracting methods stipulated in Law No. (2 of 2014), and these materials are allocated to the Iraqi Red Crescent Organization to be provided as humanitarian aid and materials on behalf of the Iraqi government to those affected by the earthquake in the Republic of Turkey and the Syrian Arab Republic.

 

Within the framework of granting financial benefits to farmers and farmers, the Council of Ministers confirmed the implementation of Resolution No. (270 of 2022), which stipulates that the Ministry of Commerce is authorized to pay the dues of farmers and farmers of the Kurdistan Region (2015-2016) at the subsidized price, according to the Emergency support Law for Food Security and Development.

 

Following the decision of the Council of Ministers (474 of 2021), and for the purpose of determining the price of gas sold by the Basra Gas Company in the economic feasibility study and the commercial model of the Nibras Petrochemical Project, the Council of Ministers decided the following:

 

-    The price of the gas used to operate the project shall be (1.5) dollars per million British thermal units, and the Ministry of Finance shall bear the difference in the price sold by the Basra Gas Company.

 

-    The State Company for Iraq Ports transferred the ownership of the land to the State Company for Petrochemical Industries for the purpose of allocating it to the Nibras Petrochemical Project based on the Law of Sale and Lease of State Funds and Amortization of the Sale Allowance in accordance with the Federal Financial Management Law

 

Also in the energy file, the Cabinet approved the recommendation of the Ministerial Council for Energy (23015 i of 2023), which stipulates that the contracts for the licensing round for border blocks and fields (the fifth round) will proceed with the final signature and activation, for a very long time after their referral.

 

The Cabinet discussed other topics on the agenda and issued the following decisions:

 

First: Ownership of Solidarity Schools without allowance to the concerned municipality, in accordance with the Law of Ownership of Lands and Emiri Buildings, provided that the Islamic Solidarity Society does not have an arsat or building suitable for the intended purpose of ownership, and ownership shall be for this purpose exclusively.

 

-    Authorizing the Minister of Construction, Housing, Municipalities and Public Works to allocate land for the purposes of public benefit institutions in accordance with Resolution (996 of 1976), for lands belonging to the municipality.

 

-    Amortization of the equivalent wage for the previous period of work in accordance with the amended Federal Financial Management Law and Cabinet Resolution (28 of 2020).

 

Second: Approving the draft law on the second amendment to the Law on Scientific and Consulting Service Offices in Higher Education and Scientific Research Institutions No. (7 of 1997), which was audited by the State Council, and referring it to the House of Representatives, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

 

Third: Approving the allocation of funds to each of the governorates (Baghdad, Najaf, Holy Karbala, Salah al-Din) to meet the expenses of visitors on religious occasions.

 

-    The Ministry of Finance included an amount of 50 billion dinars to the aforementioned governorate allocations in the draft federal budget law for the fiscal year 2023.

 

•••••

Prime Minister's Media Office

7-Feb- 2023

[6ly410]

Cabinet votes to install new batch of contracts

| Policy Today, 19:27 | 

 

The Council of Ministers votes to install a new batch of contracts » Baghdad Today News Agency

 

    

 

Baghdad Today - Baghdad

The Council of Ministers voted on Tuesday to install a new batch of contracts.

The media office of Sudani said in a statement received by (Baghdad Today) that "the Council of Ministers voted to install a new batch of contracts."

The Council of Ministers had previously voted on meals of contract employees in Iraqi ministries, who have contract service for two years and above, and for the Ministry of Finance to create grades and job titles, after the transfer was made from the planning budget for each ministry.

[6ly410]

The text of the new decisions of the Council of Ministers, including the amendment of the dollar exchange

 Time : 2023/02/07 19:58:53

 

 The text of the new decisions of the Council of Ministers, including the amendment of the dollar exchange - Al-Furat News (alforatnews.iq)

  

Today, Tuesday, Prime Minister Mohamed Shia Al-Sudani chaired the sixth regular session of the Council of Ministers, during which various issues and developments in the country were discussed, topics on the agenda were discussed and decisions and recommendations were issued.

The useful summary. In the important news you can find it in the Euphrates News channel on telegram. To subscribe click here

According to the government statement, Al-Furat News received a copy of it, the session discussed the repercussions of the rise in the dollar exchange rate in the market, and its negative repercussions on the general reality in the country. In order to mitigate its effects on citizens and various economic sectors, the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, as follows:

- 1300 dinars to the dollar purchase price from the Ministry of Finance.
- 1310 dinars to the dollar Selling price to banks - 1320 dinars to the dollar Selling price by banks and
non-banking financial institutions to the ultimate beneficiary.

Based on Iraq's position of solidarity with the victims of the earthquake that struck Turkey and Syria yesterday, the Council of Ministers approved the purchase by the Ministry of Migration and Displacement of relief, supplies and health materials in the amount of three billion dinars, from emergency security allocations, as an exception to the contracting methods stipulated in Law No. (2 of 2014), and these materials are allocated to the Iraqi Red Crescent Organization to be provided as humanitarian aid and materials on behalf of the Iraqi government to those affected by the earthquake in the Republic of Turkey and the Syrian Arab Republic.

Within the framework of granting financial benefits to farmers and farmers, the Council of Ministers confirmed the implementation of Resolution No. (270 of 2022), which stipulates that the Ministry of Commerce is authorized to pay the dues of farmers and farmers of the Kurdistan Region (2015-2016) at the subsidized price, according to the Emergency support Law for Food Security and Development.

Following the decision of the Council of Ministers (474 of 2021), and for the purpose of determining the price of gas sold by the Basra Gas Company in the economic feasibility study and the commercial model of the Nibras Petrochemical Project, the Council of Ministers decided the following:

- The price of gas used to operate the project shall be (1.5) dollars per million British thermal units, and the Ministry of Finance shall bear the difference in the price sold by the Basra Gas Company.

- The State Company for Iraq Ports transferred the ownership of the land to the State Company for Petrochemical Industries for the purpose of allocating it to the Nibras Petrochemical Project on the basis of the Law on the Sale and Lease of State Funds and the Amortization of the Sale Allowance in accordance with the Federal Financial Management Law.

Also in the energy file, the Cabinet approved the recommendation of the Ministerial Council for Energy (23015 i of 2023), which stipulates that the contracts for the licensing round for border blocks and fields (the fifth round) will proceed with the final signature and activation, for a very long time after their referral.

The Cabinet discussed other topics on the agenda and issued the following decisions:

First: Ownership of Solidarity Schools without allowance to the concerned municipality, in accordance with the Law of Ownership of Lands and Emiri Buildings, provided that the Islamic Solidarity Society does not have an arsat or building suitable for the intended purpose of ownership, and ownership shall be for this purpose exclusively.

- Authorizing the Minister of Construction, Housing, Municipalities and Public Works to allocate land for the purposes of public benefit institutions in accordance with Decree No. 996 of 1976 on lands belonging to the municipality.

- Amortization of the equivalent wage for the period of previous works in accordance with the amended Federal Financial Management Law and the Cabinet Resolution (28 of 2020).

Second: Approving the draft law on the second amendment to the Law on Scientific and Consulting Service Offices in Higher Education and Scientific Research Institutions No. (7 of 1997), which was audited by the State Council, and referring it to the House of Representatives, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

Third: Approving the allocation of funds to each of the governorates (Baghdad, Najaf, Holy Karbala, Salah al-Din) to meet the expenses of visitors on religious occasions.

- The Ministry of Finance included an amount of 50 billion dinars to the allocations of the aforementioned governorates in the draft federal budget law for the fiscal year 2023.

[6ly410]

Abadi: I strongly support the government's courageous decision to raise the exchange rate of the dinar in favor of the citizen

•  Time : 2023/02/07 19:21:44
•  
•  Abadi: I strongly support the government's courageous decision to raise the exchange rate of the dinar in favor of the citizen - Al-Furat News (alforatnews.iq)

  

{Politics: Euphrates News} The head of the Victory Coalition, Haider al-Abadi, announced on Tuesday his support for the government's decision to reduce the dollar exchange rate to 130 thousand dinars.

 

Abadi said in a statement received by {Euphrates News} a copy of it: "I strongly support the government's courageous decision to raise the exchange rate of the dinar in favor of the citizen, and we were called for that."

He called for "addressing the fiscal deficit in the budget by rationalizing spending, promoting investment and creating job opportunities, strengthening the national product, improving the trade balance and external payments, preventing currency smuggling, and fighting corruption and waste."