Economist: The recovery of oil prices is a justification for restoring the dollar exchange rate
economic 01/19/ 2022 | 11:01 am
The economic expert, Nabil Jabbar Al-Ali, expected, on Wednesday, a jump in oil prices in the coming days, after stabilizing the threshold of 75 dollars, stressing that
the recovery of oil prices is a justification to reconsider the exchange rate of the dollar.
Al-Ali said in a statement to “The Information” that “the dollar’s exchange rate depends on a fixed price policy that is not linked to the global economy,” noting that
“the duty of pure monetary policy is to maintain stability and try to stimulate economic indicators within the country through per capita income, as well as the poverty rate and the indicator the prices".
He added, "The Central Bank is primarily responsible for monetary policy in partnership with the Ministry of Finance, as well as the Ministry of Planning and the Economic Councils, and
they must reconsider the dollar exchange rate, especially since this change came based on the requirements of the government's deficit in the year 2020."
Al-Ali pointed out that “the current government is currently facing an economic well-being that may rise in oil prices in the coming days,” stressing “the
need to invest the surplus from oil revenues in economic projects.” finished / 25 h