Supreme Council expresses astonishment at continuous dollar rise

The Supreme Islamic Iraqi Council expressed on Wednesday its deep astonishment regarding the continuous rise of the exchange rate of the US dollar in the local markets, warning of its repercussions on the living conditions of citizens and their purchasing power. The Head of the General Body of the Supreme Islamic Iraqi Council, Hassan Al-Sari, stated in a statement that there is great surprise over the ongoing hikes witnessed in the local dollar exchange rate and the resulting living burdens on the Iraqi citizen, especially the poor, employees, and limited-income earners, amid the rise in food prices, medicine, rents, and various daily life requirements. Al-Sari questioned whether Iraq, with its wealth, capabilities, and economic expertise, has become unable to find sustainable solutions, leaving the citizen to face a continuous rise in the dollar price and its direct reflection on livelihood, and whether it is acceptable for the purchasing power of Iraqis to remain hostage to this rise. He emphasized that addressing economic imbalances requires integrated financial and monetary policies that support national production, stimulate industry and agriculture, control markets and border crossings, maximize non-oil revenues, and confront speculation and corruption to enhance the stability of the dinar and protect citizens' livelihoods. He called upon the Council of Ministers and the Central Bank of Iraq to take urgent and effective measures to address the turmoil in the exchange market and limit its reflections on prices, stressing that Iraqis do not need temporary solutions for the exchange rate, but rather an economy that protects their income, dignity, and living stability, preventing the citizen from being the weakest link in every crisis.