10/15/2011An Economist: A lot of talk about the deletion of zeros from the currency caused price instability
The economic expert Basim Jameel said that the main reason for the fluctuation of prices of goods and foodstuffs in local markets due to the frequent talk about the project to delete three zeros from the currency, which led to a situation of chaos in the Iraqi trader.
Jameel said in a statement to the Agency (news) on Wednesday: that the causes of the instability of commodity and food due to the frequent talk about the project to delete the three zeroes from the currency, by the Central Bank and the government, making the owners of wealth and traders tend to buy gold, selling or to hold the dollar or dinar and this leads to rapid fluctuations in the prices of materials and goods.
Jameel said the price of oil also is a result of being a global firm is a staple of power in the world, in addition to being subject to the issue of supply and demand.
The economist expert announced that Iraq today has become closely linked to global markets or the impact of any change affecting these markets, it will affect the local markets and directly through the prices of goods and materials, noting the difficulty of keeping the price of gold is considered as the purchasing power of the currency.
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