SUDANESE ADVISOR REVEALS THE SECRET OF PRICE STABILITY: THREE EFFECTIVE GOVERNMENT TOOLS
The Prime Minister’s financial and economic advisor, Mazhar Mohammed Salih, revealed the main reasons behind price stability in Iraq despite global economic challenges.
Saleh told Al-Furat News that: “Iraq enjoys a high level of price discipline, as the government has adopted three effective tools to manage the economic and price file in a precise and harmonious manner, represented by fiscal policy, direct support for goods and services, and coordinated management between state institutions.
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He explained that “fiscal policy, in particular, contributes to supporting prices through the general budget by a percentage exceeding 13% of the gross domestic product, which is one of the highest support rates in the world,” indicating that this “is positively reflected in the general price level and contributes to a decline in annual inflation growth rates.”
Saleh pointed out that “this support includes vital areas that affect the lives of citizens, including fuel subsidies, support for farmers, as well as other forms of support in the food and medicine basket and basic government services.”