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Central Bank: There is no scarcity of dinar stocks and the monetary supply exceeds 100 trillion
- Time: 11/27/2023 14:02:05
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{Economic: Al-Furat News} The Governor of the Central Bank of Iraq, Ali Al-Alaq, denied the existence of a scarcity in the stock of the Iraqi dinar.
Al-Alaq said in a press statement, “The state’s financial situation is at a good level,” noting that “the size of the monetary mass or the exported currency amounts to more than 100 trillion dinars, 70 percent of which is in circulation.”
He pointed out that "there are a large number of stalled projects and there is accelerated work to address them, and the Prime Minister is paying great attention to this file," noting "a wide movement regarding the demand for investment projects in the country."
He pointed out that "these are positive indicators that benefit from the state of stability in the country and the stability of the financial and monetary conditions," stressing that "the trend toward electronic payment aims to reduce the phenomenon of the cash economy and keep pace with development that serves the citizen, the state, and the economy."
Al-Alaq said, “Keeping cash and hoarding only carries risks, and the world is heading toward digital transformation, which is considered the fourth revolution in the world,” pointing to “a broad strategic plan to expand by switching to electronic payment.”
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{Economic: Al-Furat News} The Governor of the Central Bank of Iraq, Ali Al-Alaq, denied the existence of a scarcity in the stock of the Iraqi dinar.
Al-Alaq said in a press statement, “The state’s financial situation is at a good level,” noting that “the size of the monetary mass or the exported currency amounts to more than 100 trillion dinars, 70 percent of which is in circulation.”
He pointed out that "there are a large number of stalled projects and there is accelerated work to address them, and the Prime Minister is paying great attention to this file," noting "a wide movement regarding the demand for investment projects in the country."
He pointed out that "these are positive indicators that benefit from the state of stability in the country and the stability of the financial and monetary conditions," stressing that "the trend toward electronic payment aims to reduce the phenomenon of the cash economy and keep pace with development that serves the citizen, the state, and the economy."
Al-Alaq said, “Keeping cash and hoarding only carries risks, and the world is heading toward digital transformation, which is considered the fourth revolution in the world,” pointing to “a broad strategic plan to expand by switching to electronic payment.”
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