Al-Sudani describes the rise in prices as a temporary matter and hints at a trend to reduce the exchange of the dollar


Trade starts selling foodstuffs at subsidized prices

Baghdad – the new morning:
Yesterday, Monday, the Prime Minister, Muhammad Shia’a al-Sudani, described the rise in prices in the local markets as a “temporary matter.” Trade “will work to reduce the rise in exchange rates.”
Al-Sudani said during a press conference at the headquarters of the Ministry of Commerce: “We have taken decisions against those who try to speculate and influence the market,” pointing out that “the rise in prices is temporary and we will work to provide all the needs of the citizen in the markets.” Al-Sudani added, “The departments that have been assigned to the Central Bank and the Iraqi Trade Bank possess skills and will work to reduce the rise in exchange rates.”
He continued, “Today, we launched the food basket for those covered by the social protection network,” noting that “the number of individuals covered by the food basket for social protection is five million, 76 thousand and 649 individuals.”
Al-Sudani had earlier relieved the governor of the Central Bank, Mustafa Ghaleb Makhaif, from his post, while the former governor of the bank, Ali Mohsen Al-Alaq, was assigned to manage it by proxy. He also referred the director of the Iraqi Trade Bank to retirement, and assigned Bilal Al-Hamdani to manage it in addition to his duties.
It is worth noting that, yesterday, Sunday, Al-Sudani took urgent decisions to “address” the exchange rate of the US dollar against the local currency, during his meeting with the Federation of Iraqi Chambers of Commerce to discuss treatments for the fluctuation of the exchange rate of foreign currency.
The most prominent of these decisions included opening a new window for selling foreign currency to small merchants through the Iraqi Trade Bank (TBI), and financing the central bank for the bank with an additional amount of $500 million.
He also decided to launch the import of goods and merchandise for companies registered with the Companies Registration Department at the Federal Ministry of Trade, facilitate import procedures, and cancel the tax authority’s notification of imposing delay fines on importers.
Al-Sudani also decided to include the Chambers of Commerce and the Federation of Industries in the sessions of the Ministerial Council for the Economy, representing the private sector.
It should also be noted in this context that the Ministry of Commerce, since yesterday, began selling chicken, flour and table eggs, at subsidized prices, after it had taken its decision in this regard yesterday, the first Sunday, as the ministry’s spokesman, Muhammad Hanoun, stated that “the ministry entered the commercial line and launched Through its outlets and warehouses, it supplies citizens with basic materials, such as eggs at a price of 4,750 dinars per layer, and flour at a price of 40,000 dinars per bag, and these prices are fixed and not subject to the exchange rate.
Hanoun had also confirmed that “the stores of the Ministry of Commerce are full of foodstuffs and are continuing to supply and do not stop distributing the additional ration to the families covered by protection, and are ready for any increase.”
This was confirmed by the Minister of Commerce, Atheer Al-Ghurairy, yesterday, Monday, by saying: “Our stores are full of foodstuffs, and they are enough for three months,” noting that “there are those who are trying to manipulate prices, and we will work to confront them.”



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