Crisis expert Ali Al-Fariji said the extra revenue generated by raising the dollar exchange rate against the Iraqi dinar does not mean the government is making a net financial gain.
Speaking to dinaropinions.com, Al-Fariji explained that increasing the dollar’s value against the dinar may provide the government with quick access to cash, but it does not amount to financial reform on its own.
He said real reform requires building multiple sources of government revenue, recovering lost funds and assets, reducing waste, and moving away from dependence on oil revenues and dollar exchange rates. Instead, Iraq needs a financial system focused on results and creating stable, long-term income.
Al-Fariji added that the estimated 19.2 trillion dinars expected from the dollar revaluation should be seen as an approximate total in accounting revenue, not as extra money that will fully enter the state treasury. Part of that amount could be offset by higher government spending and increased import costs.