Central Bank: the Iraqi economy is dominated by 18/03/2011 18:42

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Central Bank: the Iraqi economy is dominated by
18/03/2011 18:42


Baghdad, 18 March (Rn) - The adviser to the CBI on Friday that inflation rose 0.3 percent during the month of February compared to January last two shows that the Iraqi economy under control and no vibrate Balssayasat global economy.

Known that excessive inflation in the general level of prices and rising incomes in cash or a component of cash income such as wages or profits as well as high costs and excessive in the creation of cash balances.

He said the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "with average inflation of 0.3% is normal that the Will of the Iraqi economy is dominated not affected by vibrations that affect the world economy."

The Ministry of Planning and Development Cooperation on Thursday for a high rate of inflation for the month of February last year by 0.3% for the month of December January.

Saleh added that "the vocabulary of the ration card was one of the reasons the task in the level of general inflation in the country have risen by 45 food in the world."

He pointed out that "the level of inflation and lack of height by a large margin due to the monetary policy pursued by the central bank in the stability of exchange rates and liquidity."

He fears a number of economists from the continuing high rates of inflation in the country in the absence of mechanisms to reduce the height of government institutions on the management of the economy in the country.

And impose customs fees on imported goods not included in the agenda tariff of customs duties by not more than 20% of Qimitھa on the proposal of Federal Minister of Finance to be the amendment of this ratio for the same reasons contained in the item is the increase of customs a temporary measure until the lifting of the causes of economic increase.

The Central Bank of Iraq announced in October last low rate of inflation in Iraq to 2.7% compared with the month of September the previous year, which encouraged the launch of liquidity for banks by 5% of the cash reserves of the existing legal to have, in order to expand lending operations and advancing development.

The main tasks of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies, and manage the reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector.

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