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Expert: The Iraqi economy is witnessing remarkable growth, which was contributed to the decline in the dollar exchange rate
5/28/2024
Economist Jabbar Goran revealed on Tuesday the high rate of economic growth in the country and that the Iraqi financial system is linked to the global banking system.
The economic expert and spokesman for the currency market in Sulaymaniyah, Jabbar Gorran, said in a statement to Shafaq News Agency: "The economic and financial situation of Iraq is developing and growing significantly, and now we are witnessing an increase in the country's economic growth by 2%, and this is a good thing for the Iraqi economy compared to previous years."
He added, "The implementation of electronic procedures by the Central Bank of Iraq under the supervision of the US Treasury Department had a clear impact on economic growth as well as on the decline in the value of the dollar against the Iraqi dinar."
He stated that "the monetary financial policy currently followed in the country has made the difference between the exchange rate of the dollar and the dinar shrink to the limits of ten thousand dinars, and this difference is considered normal for many reasons."
He pointed out that "the measures taken since the middle of last year have been implemented in a realistic manner, amounting to 30 financial measures, which had a positive impact on dealing in the Iraqi dinar instead of the dollar, when transactions in the Iraqi dinar in the country are now estimated at 90%, with the exception of the Kurdistan Region, and also paved the way for merchants to deal." Through external transfers directly through banks, 85% of local merchants can now deal with external transfers through banks to import materials from abroad.”
Kuran ruled out that the dollar exchange rate would be the same as the government exchange rate for administrative and financial reasons, indicating that the difference should remain this way at around 10 thousand dinars between the dollar and dinar exchange rate.
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