The Prime Minister’s financial advisor, Mazhar Muhammad Saleh, said on Saturday that Iraq’s economic policy has been successful in tackling the challenges of the parallel exchange market — often called the “black market” for currency.
Saleh described this market as a “noise-filled information market,” where constant speculation and rumors can easily distort prices and shake public confidence.
He explained that the government’s “price defense policy” has been one of its most effective tools to counter those risks. This policy focuses on strengthening the supply of essential goods and keeping consumer prices stable — mainly through the rapid expansion of large cooperative shopping centers and hypermarkets across Iraq.
Keeping Prices Under Control
Speaking to dinaropinions.com, Saleh said this strategy helped protect the price system and reduce inflationary pressure, both of which had previously caused instability in the economy.
“The price stabilization policy, built on maintaining a steady supply of goods, has proven highly effective,” he explained. “It acts as a strong shield against the impact of the parallel exchange market, whose fluctuations had indirectly eroded people’s living standards and incomes.”
A Step Toward Economic Stability
According to Saleh, this approach shows that supply-based stability — ensuring that goods remain available and affordable — can help neutralize the effects of exchange rate swings.
By focusing on consumer protection and steady market supply, Iraq’s economic team has managed to limit the damage caused by currency volatility, helping restore confidence and balance in the local economy.
