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- PUBLISHED ON 20/12/2017
In this context, it is believed that monetary policy has a pivotal role in saving the Iraqi economy from the sharp part of the crisis. Monetary policy is one of the pillars of macroeconomic policies used to achieve growth, financial and economic stability, and overcome the cycles of the reverse cycle by controlling its quantitative and qualitative instruments. In the economy of Iraq, despite the provision of monetary policy and tools of the umbrella of stability in price levels, but the dominance of the oil budget is still the main direction of the compass of monetary policy, despite the independence of the Central Bank of Iraq in accordance with Law No. 56 of 2004
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BY
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- PUBLISHED ON 20/12/2017
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The Iraqi economy faces complex economic challenges that threaten the prospects for growth and stability in the short and medium term. The decline of oil revenues to levels below which public expenditure has been imposed and the costs of rehabilitation and reconstruction of liberated areas and production ceilings imposed by the new oil agreement on the Iraqi oil pumps and the continuous erosion of the central bank reserves and the risk of floating the Iraqi dinar and the uncontrollable inflation rates are all indicators of the next slide Economic decision-makers in the country must deal seriously with the shocks of the oil economy and reduce excessive reliance on oil resources in favor of diversifying the national economy and involving the private sector as an engine for growth and employment generation.In this context, it is believed that monetary policy has a pivotal role in saving the Iraqi economy from the sharp part of the crisis. Monetary policy is one of the pillars of macroeconomic policies used to achieve growth, financial and economic stability, and overcome the cycles of the reverse cycle by controlling its quantitative and qualitative instruments. In the economy of Iraq, despite the provision of monetary policy and tools of the umbrella of stability in price levels, but the dominance of the oil budget is still the main direction of the compass of monetary policy, despite the independence of the Central Bank of Iraq in accordance with Law No. 56 of 2004
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