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Lebanon's economic and political scenario is possible in Iraq... What is the truth?

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2021/08/02 15:45    number of readings 6711    Section : file and analysis


Lebanon's economic and political scenario is possible in Iraq... What is the truth?

Baghdad / Obelisk: Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, said that it is not possible to restore Lebanon's economic scenario in Iraq, because it owns oil and is of high financial strength.

Saleh said Monday, August 2, 2021 that Iraq's economic situation is good, and that it is unlikely that it will reach the level of banking and tourism collapse in Lebanon.

Media circles report analyzes that the increase in the prices of many commodities necessary for citizens' lives raises fears of protests similar to what happened in Lebanon, where the dollar is scarce in the markets and banks are stumbling in the ability to pay in dollars to the owners of bank deposits.

Iraq has high reserves and strong and different financial resources in the Central Bank of Iraq that help it control economic and stability away from the collapse that Lebanon and other countries have reached,

and Iraq's good relationship with many countries of the world helps in the recovery of the economy, in addition to the stability of oil prices at a rate of 70 $80 for the remaining months of the year.

Iraq has a strong financial leverage, which is oil revenues, according to Saleh, who said that the central bank accounts are strong at the present time and have started to rise, and the efficiency indicators are also good.

And the impact of the devaluation of the dinar exchange rate on the economic situation is that most of the materials are imported due to the cessation of industry and dependence on the importer, but there are things in return and materials that have not changed and remained constant, such as government services.

Saleh pointed out that the economic situation is improving despite the fact that it affects some people and needs to address policies, which is important for how to address the improvement of the conditions of the poor and disadvantaged classes.

And the matter goes beyond the political aspect, as fears that the elections will lead to different and disputed results between the political parties, especially if the Sadrist movement continues to boycott them, so that the matter will end with the control of certain alliances over the formation of the government and the uniqueness of one political team to rule in Iraq.
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