Friday, October 28, 2011

The volume of currency in circulation in the local market is (4) trillion Dinars is controlled by the central bank

   Baghdad (news) .. He specializes in economic affairs Dargham Muhammad Ali, that the volume of currency in circulation in the local market is (4) trillion dinars is controlled by the central bank and this prevents inflation for the next year, noting that most of the ministries of the State does not need to the degree of functional and she is suffering from sagging career, which would negatively affect the investment budget and fully reflected in the Iraqi economy.
The Muhammad Ali in a statement to the correspondent Agency (news) on Monday: "The issue of inflation is unlikely in the coming months due to the control of the central bank to the currency in the domestic market, which amounted to (4) trillion dinars and through his control also on the exchange rate which is a measure of The price of goods imported from abroad, mass cash on the market. "

. He pointed out: The Central Bank is working to absorb the Iraqi dinar by offering more than the dollar and by the interest rate to use tools that can control this issue, which will make the Iraqi citizen saves money instead of spending this works and to withdraw currency from the market.

Muhammad Ali and saw that most government ministries do not need degrees and career and she is suffering from sagging career and thus will increase in operational spending at the expense of development and investment, which reflected negatively on the economy of the country.

 Noteworthy that the Iraqi economy has witnessed serious inflation is unprecedented on the basis of the entire press reports and a summary of seminars and economic studies related to this aspect as well as the concrete facts on the ground has decreased the real value of money in the Iraqi market is remarkable, and no longer in large quantities sufficient for the purchase of a commodity or service simple, so are the follow-up to increase prices of goods and services in Iraq to assess the rates REO process difficulties, due to the continuous increase in prices