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[size=36]The Central Bank announces an increase in the size of foreign reserves from 140 to 148 trillion dinars[/size]
Economy | 12:21 - 02/29/2024
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Mawazine News - Baghdad
The Central Bank announced that it was able to reduce inflation levels in the country, increase foreign reserves and the size of deposits in banks, and expand electronic payment tools, at a time when the Finance Committee in the House of Representatives presented proposals to develop the banking system.
Deputy Governor of the Central Bank, Ammar Khalaf, said during the opening of the eighth annual exhibition and conference for finance and banking services, “The country faced during the past year a series of challenges, but the Central Bank faced them with high responsibility, as it was able, through various monetary policy tools and sound decisions, to achieve its goals set forth in its law.” In addition to achieving the general level of prices by reducing the inflation rate, as the inflation rate reached 7.5 percent at the beginning of the year 2023 and decreased at the end to 4 percent.
Khalaf pointed out that “last year witnessed clear growth in most monetary changes, including an increase in the volume of deposits in the banking sector from 129 trillion dinars in 2022 to 131 trillion dinars in 2023, as well as an increase in private sector deposits in the banking system from 54 trillion dinars to 55 trillion dinars.” And half a trillion dinars, in addition to an increase in the volume of credit in the banking sector from 60 trillion to 69 trillion during the year 2023, in addition to an increase in credit in the private sector from 35 to 40 trillion dinars, with an increase in the volume of foreign reserves from 140 to 148 trillion dinars.”
The Central Bank announced that it was able to reduce inflation levels in the country, increase foreign reserves and the size of deposits in banks, and expand electronic payment tools, at a time when the Finance Committee in the House of Representatives presented proposals to develop the banking system.
Deputy Governor of the Central Bank, Ammar Khalaf, said during the opening of the eighth annual exhibition and conference for finance and banking services, “The country faced during the past year a series of challenges, but the Central Bank faced them with high responsibility, as it was able, through various monetary policy tools and sound decisions, to achieve its goals set forth in its law.” In addition to achieving the general level of prices by reducing the inflation rate, as the inflation rate reached 7.5 percent at the beginning of the year 2023 and decreased at the end to 4 percent.
Khalaf pointed out that “last year witnessed clear growth in most monetary changes, including an increase in the volume of deposits in the banking sector from 129 trillion dinars in 2022 to 131 trillion dinars in 2023, as well as an increase in private sector deposits in the banking system from 54 trillion dinars to 55 trillion dinars.” And half a trillion dinars, in addition to an increase in the volume of credit in the banking sector from 60 trillion to 69 trillion during the year 2023, in addition to an increase in credit in the private sector from 35 to 40 trillion dinars, with an increase in the volume of foreign reserves from 140 to 148 trillion dinars.”
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