- number of readings 327
- Section : Iraq
Baghdad / Obelisk: The Ministry of Planning announced, on Saturday, August 14, 2021, the reasons for the high rate of inflation in the country, revealing its natural limits.
Ministry spokesman Abdul-Zahra Al-Hindawi said in a statement to “The Obelisk” that inflation rates are rising in all countries and varying between one country and another, subject to the development reality of countries.
He added that in Iraq, after the change in the exchange rate of the dollar, inflation rates increased more than it was before the change in the exchange rate, noting that the rates began to witness stability during the recent period, and there is a cumulative rise between half to 1 percent.
He went on to say that the inflation rate rose to 8%, which is an average for a country like Iraq that is living in these conditions, which are not alarming.
He pointed out that if the rate rises to 10 or 12 percent, it is within the natural rates of rising inflation and is not unbridled, but is called a controlled natural rise that does not raise fears.
A group of unions and federations had announced earlier, the launch of a national campaign to support the national currency and the economy and increase the citizen’s confidence in the Iraqi dinar.
Six unions said in a statement received by Al-Masala, in which it announced the launch of a national campaign under the auspices of the Central Bank of Iraq to raise awareness to support the national currency and the Iraqi economy. A large segment of Iraqi society.
This campaign aims to shed light on the importance of dealing with the national currency and increasing the citizen’s confidence in it, for the contribution of all sectors to maintaining the exchange rate and keeping inflation at low rates, and reducing poverty and unemployment rates through the entry of Iraqi and foreign investors to work inside the country, which will lead to Increasing the services provided to citizens and this is fully reflected positively on the economy.
Poverty indicators in the country increased to 27 percent due to the increase in price hikes, according to the Ministry of Planning.
The prices of goods, especially foodstuffs, rose due to the rise in the exchange rate of the dollar.