The economic expert, Safwan Qusay, explained how to move towards reducing the dollar exchange rate, pointing out that keeping the current price as it is should be faced with a number of measures to reduce poverty and the damages resulting from that.
Qusay told “The Information” that “the price of a barrel of oil, and if it is set at the level of $70 in the 2022 budget, and in front of a new exchange rate for the dollar (despite the lack of desire to reduce it), it is imperative that all public spending be reformulated according to the new price, as the deficit will be present. Because 70 percent of the budget goes to operational spending.
He added that “the process of reconsidering the exchange rate will create a budget deficit according to the aforementioned estimates, as the best solution is to continue the exchange rate, provided that it is supported in the event that there is a possibility by the Central Bank to reduce this price gradually according to an announced schedule, provided that there is no sharp fluctuation in the markets.” Finance.”
Qusay stressed the need for “there should be a review of all vocabulary in light of the exchange rate, so that the financial savings are exploited to support rations and social welfare and increase the amount of investment projects, provided that there be financial engineering that matches the exchange rate, as things remain as they are.” Currently, it makes the country far from supporting local production, as well as losing control of poverty and unemployment.” finished/ 25 n
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