[size=36]Central Bank Governor: Iraq's revenues go to build the economies of other countries[/size]
Economy | 11:21 - 17/09/2019
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BAGHDAD - Mawazine News
The Governor of the Central Bank, on the relationship, Tuesday, that the size of Iraq's reserves of foreign currency exceeds international standards, indicating that Iraq's revenues go to build the economies of other countries.
Al-Allaq said in a statement to Al-Sabah newspaper followed by (Mawazine News), that "our foreign currency reserves are comfortable and good and within international standards, but exceed the normative ratios, but according to the law is not to cover the deficit, but is a cover for the local currency," pointing out that "the government arrived To more than saturation, and that Iraq's revenues go to build the economies of other countries. "
He added that "the strength of the exchange rate and the strength of the Iraqi dinar depends on this cover, so the process of linking the reserve and cover the deficit is improper, and the law of the Central Bank does not allow the reserve to be used to lend to the government directly or indirectly, but is to maintain the value of the dinar against the dollar ".
As for the sagging government jobs among the relationship, "the government apparatus has reached more than saturation, and it does not add economic value, but that in its expenses is a great challenge to the public budget and reduces the resources that can go to occupy others and create more jobs through real projects." /s
The Governor of the Central Bank, on the relationship, Tuesday, that the size of Iraq's reserves of foreign currency exceeds international standards, indicating that Iraq's revenues go to build the economies of other countries.
Al-Allaq said in a statement to Al-Sabah newspaper followed by (Mawazine News), that "our foreign currency reserves are comfortable and good and within international standards, but exceed the normative ratios, but according to the law is not to cover the deficit, but is a cover for the local currency," pointing out that "the government arrived To more than saturation, and that Iraq's revenues go to build the economies of other countries. "
He added that "the strength of the exchange rate and the strength of the Iraqi dinar depends on this cover, so the process of linking the reserve and cover the deficit is improper, and the law of the Central Bank does not allow the reserve to be used to lend to the government directly or indirectly, but is to maintain the value of the dinar against the dollar ".
As for the sagging government jobs among the relationship, "the government apparatus has reached more than saturation, and it does not add economic value, but that in its expenses is a great challenge to the public budget and reduces the resources that can go to occupy others and create more jobs through real projects." /s
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