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Iraqi Finance: We have adopted the dinar exchange rate to protect foreign reserves and support the budget

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The Iraqi Ministry of Finance revealed, today, Sunday, the reasons for adopting the current exchange rate, while it expected a gradual recovery of the economy

A statement by the ministry said today, Sunday, that it "adopted the exchange rate to supplement national production, protect the central bank's reserves and support the budget

The ministry indicated that during the past three years, it had borne the burden of a stifling financial crisis that threatened the state's ability to fulfill its obligations that were already burdened by a large legacy represented by the inflated public spending rate and the rise in the wage bill, which threatened to secure the salaries of its employees, in light of a sharp decline in international oil prices and a dangerous health situation due to The consequences of the Corona pandemic on the national economy and its repercussions on the economic reality and the social fabric