Decline in the Currency of Turkey and Iran in the favor of Iraq

The economic adviser to the Iraqi Prime Minister Haider Al-Abadi, Muhammad Saleh said in a press interview that recent decline in the Iranian and Turkish local currencies have been considered in the favor of Iraq. He said during a press interview that there is a major difference between Iran and Turkey. The economic issues in Turkey are different than the problems being faced by Turkey. He added that the recent decline in both countries was due to a deficit in the calculation of general payments. He also indicated that Iraq is looking to import various types of goods from Iran and Turkey. These goods will be imported at low cost because economic theory involves the transfer of part of the benefits that are degrading the country.

Decline of Currency in Turkey and Iran

He added that the country, which is exposed to a decline in its monetary currency is able to export a larger proportion, and as Iraq is an importer, there will be benefits to the Iraqi economy and the amounts of money less than the former and the country is benefiting from the increase in production of goods, noting that the Iraqi demand from those countries Demand from other countries will be offset by lower purchasing power. He continued: the positive thing will be reflected on the tourism sector where the decline in the currency will lead citizens to travel and try to invest in the deterioration of the currency rates within Iran or Turkey, pointing out that Iran and Turkey are characterized by economic diversification will be traded exchange between Iraq and positive for both parties.

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