Baghdad / NINA / - Secretary-General of the Council of Ministers Hamid Al-Ghazzi presented proposals to preserve the value of the Iraqi dinar, including preventing the import of cars and luxury goods.

The Secretary-General of the Council of Ministers Hamid Al-Ghazzi stated: "The proposals were to stop importing cars for six months and to allow the import of the previously agreed exclusively, especially since the prices of cars are fixed globally and there is no need for more cars at this stage, and stopping the import of luxury goods in coordination between the Ministries of Industry and Trade," for a period of six months, the issuance of sovereign bonds estimated at the price of oil sold at the current price, according to which the buyer owns a specified number of barrels of oil and has the right to sell them to the state after 6 months have passed, and in this way the state withdraws the largest amount of cash liquidity.

Al-Ghazi added: "If the decision to prevent the import of luxury goods is applied, then this means preventing the import of everything that is not inside production, such as car accessories, smart phone accessories, bags, shoes, and toiletries, as well as women's and men's clothing, which are other goods that can be manufactured locally, which encourages the national industry."

The Ministerial Council of Economy had taken several decisions during its last sessions after studying a set of mechanisms and solutions regarding the impact of the crisis of low oil prices on global markets on the economic and social situation of the country, in order to take the necessary measures to protect the living standard of citizens as well as find alternatives that support the state's general budget. / End





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