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Financial advisor Ebadi: the devaluation of the Iraqi dinar will enter the country with 3 crises

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Financial advisor Ebadi: the devaluation of the Iraqi dinar will enter the country with 3 crises

Unread postby admin » Fri May 19, 2017 8:45 am

Financial advisor Ebadi: the devaluation of the Iraqi dinar will enter the country with 3 crises


Financial advisor Ebadi - the devaluation of the Iraqi dinar will enter the country with 3 crises

BAGHDAD / Tomorrow 's Press:

Financial Advisor to the Prime Minister, the appearance of Mohammed Saleh, on Friday, revealed the reasons for the reduction of the Iraqi government for the value of the Iraqi dinar, stressing that reducing the value will enter Iraq by 3 crises linked to price inflation, terrorism and the deterioration of living standards.
Saleh said for "Tomorrow 's Press," that "there are actors andpersonalities working to promote the idea of the deterioration of the exchange rate of the Iraqi dinar and the events of the deterioration in the standard of living and Serb stability in order to impose a monetary tax urgently affecting all segments of the people , which inflation and the events of deliberate deterioration of the standard of living in order to conquer some of the state deficit without considering the management of revenues from outside oil revenues. "
"The reduction of the Iraqi currency by reducing the exchange rate of the dinar against the dollar , for example , will add the results of the destructive effect of a negative in the deepening impact of the financial crisis, a new crisis - strong inflation in the general level of prices and generates inevitably recession inflationary exacerbating the general economic situation and common discontent intended at the time of fighting the war on terror , and we desperately need the elements of economic stability. "
He stressed that "here will enter the country in three crises, financial crisis is not solved by methods rapid monetary policy such as reducing the Iraqi dinar exchange rate will also like the dollar campaign and the pioneers of dollarization and Moktnzih of the wealthy, who are speculating strongly the people and the misery of the poor and low - income classes, the second price inflation and the deterioration of economic stability crisis caused by the deterioration of stability over the foreign currency and reduce the purchasing power of pensions and incomes of citizens exchange rate because of inflationary expectations and broadcast state of uncertainty and lack of confidence in Iraqi dinars. "
He noted that " the third crisis is a security crisis , the cause of terrorism and the war on Daesh Valkhasr is the people and the winner of the reduction of the dinar are rich dollar and terrorism, and do not forget that inflation in Daesh areas and high rates of price inflation there to three decimal places and the deterioration of the standard of living has precipitated victory over the stability of the standard of living in the rest of Iraq, a smart economic warfare practiced by the economic leadership in the victory soon. "
Saleh continued that " the government has reduced its non - essential expenditures and the absurd and frivolous, this is true, but did not exercise an absolute policy of austerity Ktkulail salaries or pensions or social welfare and the expenses of the war and the process of investment necessary."
And that "internal and external borrowing to finance the budget deficit is a process that is not (contractionary) , as some claim it is a motivational process stimulus and expansive fighting deflation, deflationary Valmoisnat that lead to economic recession are typically those in which the budget is balanced level of expenditure is less consistent and revenue potential which budgets really contractionary. "
He went on that "budgets are built on the deficit is financed the deficit by borrowing are the budgets of the expansive nature, in particular the current fiscal policy in Iraq, internal Valaguetrad came in accordance with the vision of monetizing debt Balaam often (ie , the financing of public debt by expanding cash relatively basis) and not the opposite. "
He pointed out that "external borrowing such as the same applies to any other external resources of oil proceeds, in terms of the impact of expansion on the expense of falling public spending and the money supply expansion according to the well - known specialists in monetary policy mechanisms external flows."
He stressed that " the promotion of economic topics argumentative incomplete at the time of the civil war and victory over terrorism is a desperate attempt of a group of haters who want to weaken the state and rumor desperate."
Saleh concluded : "There anonymize programmed Iraqi street operation to spread the spirit of despair should be wary of actions promoted by the forces of tables driven by suspicious negative in the positive conditions is the financial victory and get out of the neck of the bottle as well as the military victory and liberating the land and man from the clutches of terrorism."
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