The Supreme Islamic Iraqi Council expressed on Wednesday its deep astonishment at the continuous surge in the foreign exchange rate within local markets, issuing serious warnings regarding the negative repercussions on the public living standards and purchasing power. The Head
of the General Body of the Council, Hassan al-Sari, stated in an official announcement that the persistent rise in the dollar creates harsh living burdens on citizens, specifically targeting impoverished classes, employees, and limited-income segments, amidst a wave of high
prices affecting food supplies, medicines, housing rents, and various essential life requirements. Al-Sari questioned with disapproval whether the country, with all its wealth, capabilities, and economic expertise, is truly unable to formulate real and sustainable solutions to end the citizen's
ongoing suffering with fluctuating exchange rates and their direct reflections on daily life details, expressing bewilderment at the persistence of citizens' purchasing power being held hostage to this continuous ascent. He emphasized that correcting economic imbalances requires formulating cohesive monetary
and fiscal policies that contribute to supporting local production, activating the industrial and agricultural sectors, as well as tightening control over markets and border crossings, enhancing state revenues away from oil, and combating speculation and administrative and financial corruption in
order to stabilize the national currency and protect people's livelihoods. In conclusion, he urged the government and the Central Bank to intervene immediately through serious and decisive steps to contain the market crisis and reduce its impacts on prices, stressing
that the Iraqi street is in urgent need of a robust economy that fortifies its income and preserves its dignity, rather than settling for temporary remedies that consistently make the citizen the weakest link in facing crises.
