More Discussion of an expected Rate Change in the Iraqi Dinar

Read the full article and more at https://myfxbuddies.blogspot.com/2021/01/saturday-edition-wots-extra-jan-30-21.html Experts: Changing the exchange rate means re-preparing the budget completely link In conjunction with the demands of some parliamentarians to raise the price of zero dinars against the dollar, economists stressed the difficulty of moving forward with this step, as it would mean a complete re-preparation of the budget. Economists added that again manipulating the exchange rate of the Iraqi dinar will affect public revenues as well as exacerbate the deficit, stressing that changing the exchange rate will also lead to confusion in local markets and the benefit of corrupt people and influential banks. In turn, legal experts confirmed that the House of Representatives does not have the authority to change the exchange rate, since Article 62 of the Constitution limited the powers of Parliament to conduct transfers between chapters and chapters of the general budget and reduce the total of its sums. He may, when necessary, suggest to the Council of Ministers to increase the total amount of expenditures.