The Media Observatory of the Ministry of Finance denied statements attributed to Mohamed Maait, Minister of Finance, regarding the pricing of the dollar in the draft budget.
It added that the news of setting the exchange rate of the pound against the dollar at 35 pounds in the new draft budget is untrue.
It explained that the Ministry of Finance, in preparing the draft state general budget, always uses the average exchange rate during the period from January to March of each year, and this is what actually happened when preparing the draft state general budget for the next fiscal year 2023/24.
The Media Observatory indicated that the Ministry of Finance uses the exchange rate of the pound against the dollar to estimate the financing needs in foreign currency necessary to manage the requirements for subsidizing fuel and goods, servicing external debt, purchasing goods and services, estimating investments, and others.
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