Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Effective contributions of the Central Bank of Iraq to achieve financial sustainability and economic

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 269112
    Join date : 2012-12-21
    • Post n°1

    Effective contributions of the Central Bank of Iraq to achieve financial sustainability and economic Empty Effective contributions of the Central Bank of Iraq to achieve financial sustainability and economic

    Post by Rocky Mon 18 Jul 2022, 5:20 am

    Effective contributions of the Central Bank of Iraq to achieve financial sustainability and economic growth

    [You must be registered and logged in to see this image.]




    [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]


    Through the analysis of indicators  and official financial data for the year 2021 and the first half of this year, "it becomes clear that the Central Bank of Iraq had an important role in supporting and stimulating the economy, revitalizing the economic cycle, saving the economy from collapse, achieving balance in the macro economy and achieving relative stability in the monetary system in challenging stages." And the crises that Iraq suffered in 2014, 2020 and 2021 .
    This is reflected in the recovery of the economy and its transition from an economy that shrank by 11% to achieving a rate of 2.8% in 2021, which was indicated by the latest World Bank report . realized from the increase in oil prices wisely and issued its budget for the mentioned year according to the indicators of economic recovery.
    Certainly, this recovery was due to the Central Bank and its monetary policy applications and initiatives, which totaled 18 trillion  dinars, which contributed to the establishment and operation of 11,000 small, medium and large projects and the operation of more than 40,000 unemployed people, and the amounts of support it provided to the government during crises in 2020 and 2021, amounting to 30 trillion dinars from Through the various monetary policy tools and by re-discounting the treasury transfers issued by the financial institution .
    Through our follow-up to the procedures, policies, activities and initiatives of the Central Bank, and from the analysis of data and evaluative indicators for the specialized departments of the bank, and the implementation of the banking reform program specified in the second strategy of the Central Bank for the years 2021-2023 , we have confirmed the success of the Central Bank’s developmental, lending, financing and incentive steps, which are a number of reform measures that were planned and put in place In place of implementation, which was accompanied by the decision to reduce the exchange rate of the dinar in order to alleviate the burdens that citizens with low incomes are expected to suffer and for the purpose of creating monetary balance in the trading market, which resulted in recovery, stability and relative growth in the economy   .   
    In addition to facing the repercussions that can occur as a general situation facing countries that reduce the exchange rate of their local currency and investing in positive cases to strengthen the financial position of the government, reduce the budget deficit and overcome the causes of internal and external borrowing, in addition to protecting and supporting the local product and increasing external cash reserves, which reached the limits of 74 billion dollars    And 130.39 tons of gold , thus Iraq ranked fourth in the Arab world and tenth globally. This comes due to the safe investments adopted by the Central Central Bank, activating the real sector, reforming and developing the banking sector technically, as the number of active bank cards reached 15 million and 1566 ATMs and more than 14.7 A thousand points of financial payment, and thus the percentage of financial inclusion exceeds 25%.
    Therefore, it requires the next new government and the House of Representatives to issue the 2022 budget, and that the fiscal policy be clear and specific goals to achieve financial sustainability, distribute the tasks of implementing its reform plan to the concerned ministries, activate the economic sectors, diversify sources of income, implement investment projects, achieve food and drug security for citizens, reduce unemployment and inflation, and achieve growth in gross domestic product .
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Sun 28 Apr 2024, 12:38 pm