Iraqi Economy is Strong and No Way of Inflation in the Country: Muhammad Saleh

On Tuesday, the Economic Adviser to the Iraqi Prime Minister Muhammad Saleh issued a press statement that some economic experts are distrustful regarding the Iraqi market. Point to be noted that the Iraqi domestic market is fluctuating and it seems normal. Iraq has suffered from a major downfall in the global oil prices but not suffered by inflation. Muhammad Saleh said in his press statement that there is a major difference between the price of Iraqi Central Bank and Iraqi local market. It means that there are two markets that are responsible for any kind of changes in the market. But these simple differences are also important because these differences will be used at the time in making financial policy for the country, it would also reflect a major impact on the monetary policy.

He further added that the Iraqi Central Bank has achieved the target to meet the demand of the market and balanced it at the time when sales doubled accidently. He also pointed out that there are a number of threats hidden in the Iraqi market. Iraq still rely on its oil exports by selling its oil products and getting profits on daily basis and at the other hand, fluctuation in the U.S dollar prices and predictions from most of the experts regarding the rise in the U.S dollar price in the near future. Muhammad Saleh further said that the economy of Iraq still not reached at any kind of inflation stage and the prices in the Iraqi market are still stable. The oil producing and exporting countries are experiencing low-demand which would raise the U.S dollar exchange rate against the Iraqi dinar in near future.

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