The parliamentary Finance Committee, a study to delete zeros from the national currency, but they ruled out the application at the moment for several reasons.
“The proposal to delete the zeros has been submitted from the House of Representatives to the Parliamentary Finance Committee in order to study the change of the national currency and all categories and the printing of new coins, but the preliminary study showed that the costs needed by the project is great,” the committee’s rapporteur Ahmed al-Saffar told reporters.
He added that “the budget deficit for this year and Iraq’s debt is one of the most important reasons that will lead to delay the deletion of zeros (three zeros),” noting that “the Finance Committee has assigned specialized bodies of monetary policy to study the project carefully to submit to the Finance Committee to be the main lines of this project, which Its beginnings go back years. “
Al-Saffar pointed out that “deleting the zeros is a project with psychological effects rather than being actual, as the citizen will feel that his money is compatible with the requirements of his life and the movement of supply and demand and equal to hard currency.”