Baghdad – IA – Hendren Makki
The Ministry of Planning confirmed on Friday that the actions of the government and the Central Bank of Iraq contributed to the decline and stability of inflation indicators in Iraq.
The official spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, told the (INA), “Inflation indicators have witnessed stability and decline in their rates during the last two years, as the inflation rate was (6%) in the year 2021, and it decreased in the year 2022 to (5%) %) Then in the year 2023, the inflation rate was 4.4, meaning less than 4 and a half percent.
Al-Hindawi added: “In the last months of the year 2023, we recorded stability in inflation rates, as the indicators did not exceed half of 1 percent, and this is due to the stability of food prices and even their decline in some stages.”
He pointed out that “this stability and decrease in the rate of food and some other materials is the result of the policies and measures taken by the government during the past periods that contributed to providing an adequate income for the poor, in addition to improving the components of the food basket by increasing food supplies, improving their quality, and regularizing the distribution process.”
He continued: “In addition to the expansion of the social protection network greatly through the inclusion process, the number of families covered reached more than two million families, with 8 million individuals benefiting from the social protection network, in addition to the projects that are being implemented at the level of the capital, Baghdad, and the governorates, as they contribute to saving hundreds of thousands.” Of job opportunities, and all of these measures help achieve a state of consumer stability and reassurance for the individual, as there is a stable income, available foodstuffs, and job opportunities.”
He pointed out, “There is another aspect and an important factor that should not be overlooked, which is that the Central Bank of Iraq actually succeeded in securing financial cover at the official price for all food imports after most of the importing merchants joined or entered the platform of the Central Bank, and transfers through the platform were also a very important factor.” It prevented the impact of the rise in the exchange rate in the parallel market on food prices, because all food imports are covered by the official price, and thus it was an important factor in stabilizing inflation rates and indicators in Iraq.”