Today, Saturday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, confirmed that the reserves of central banks are variable and depend on how they are managed, while confirming the existence of positive indicators that confirm the continued increase in the growth rates of domestic product and non-oil government revenues.
In a statement to the official agency, followed by the National News Center, Makheef said, “The reserves of central banks change from time to time, and this depends on how these reserves are managed, in addition to the ways in which Iraq was financed at the end of 2020, where the Central Bank took the initiative to cooperate with The financial institutions operating in Iraq and the Ministry of Finance included a number of measures that bore fruit over time, especially after the improvement of oil revenues to the Ministry of Finance at a time when there was a lack of liquidity in the government, especially in the distribution of salaries, and economic indicators indicated that oil prices would improve and there would be positive indicators in the period coming.”
He added, "These indicators were within the economic analyzes and were well positive, and included the rise in oil prices, the government's implementation of the white paper seriously, and then the search for an increase in non-oil government revenues, and this we expect to reap its fruits during the next stage."
He pointed out that "the Central Bank has undertaken a very large initiative during the last period, as it launched an initiative within a fund that was allocated 18 trillion dinars and distributed in various industrial, agricultural, commercial and investment sectors, and there are positive responses that we have seen in the housing sector through great development in residential complexes and the citizen's obtaining a loan A facilitator of this initiative is useless.”
He expressed his hope that "during the coming period, there will be a continuous growth of economic indicators, especially in the reserves, to give indicators for the region and the world that encourage investment projects in Iraq," stressing that "all indicators so far indicate the continued increase in GDP growth rates for a short period."
He noted that, "the residential complexes have provided, during the past few years, through the initiative of the Central Bank, a lot of job opportunities, as well as provided housing for many citizens," stressing that "continuing to provide the initiative, in addition to allocating a fund for this support, and the next stage will be much better."
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