Parliamentary economy reveal about the benefits of selling foreign currency at the central bank auction
01/02/2016 14:47 pm (Baghdad time)
Special - scales News
A commission of economy and investment representative, on Saturday, that the central bank selling of foreign currency is very important and necessary to the economy of Iraq being Dqa contribute to employees' salaries.
Said committee member Ahmed Kanani's / scales News /, that "the reasons for the auction of important foreign currencies of the Iraqi economy, because domestic production ratio constitutes only 2%,which means a lack of financial resources to draw on, which leads us to the sale, in addition to that we are the only country that has Almost five million employees than it needs a day to 287 billion Iraqi dinars cash. "
Kanani said, that "if not to sell the currency, there will be a crisis in the payment of staff salaries, and the deterioration of economic matters, as well as private banks stopped rising dollar and by a large margin." He pointed out that "this issue as a normal monetary policy, but there is a clear position by some MPs on them, it is necessary to balance between the dollar and the dinar rate."
Kanani said that "reducing the selling currency in the future is possible when we have a national production, and confidence between the government and private banks deposits to distribute them even draw a parallel with the economic policy of the government banks."
This revealed the parliamentary finance committee member Majda al-Tamimi, about the corruption of a very large file in your currency auction of the Central Bank, indicating that the currency "fad" Ahtkrth political and commercial layer in order to steal oil money. Auction ended 29/38
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