The Erbil Chamber of Commerce and Industry expressed, in a statement, its deep concern over the decisions of the Iraqi federal government that have led to a rise in the price of the dollar and instability in the markets, while warning that this situation will directly harm citizens’ livelihoods and the private sector.
The statement of the Erbil Chamber of Commerce and Industry said: "Such unbalanced economic decisions directly disrupt market equilibrium, paralyze commercial activity, drive up the prices of goods and basic necessities, and further burden citizens’ living costs in general and those of low-income groups in particular." It also noted that the decisions had created major obstacles for investors and company owners in implementing their contracts and work plans.
The Erbil Chamber of Commerce and Industry also emphasized that economic crises cannot be resolved by imposing harsh decisions on the private sector and traders; rather, the federal government must adopt a more flexible and scientific financial policy that protects the value of the currency and market stability.
At the end of the statement, the Iraqi government and relevant parties were called upon to review these decisions as soon as possible in order to reduce the burden on the market and citizens. It also reiterated that, as a representative of the private sector, it will continue to defend the rights and interests of traders in the Kurdistan Region.
