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Clare » December 13th, 2022
Central Bank: The cash reserve has reached its highest level in the history of the Iraqi state
12-13-2022
The Central Bank of Iraq announced, today, Tuesday, that the volume of currency reserves has reached its highest levels in the history of Iraq, while noting that public finances have an opportunity to compensate all the disadvantaged and those with low salaries from retirees.
The Central Bank’s advisor, Ihsan Shamran Al-Yasiri, said in a statement followed by “Tigris”, that “the central bank’s reserves have reached their highest levels in the history of the Iraqi state and have exceeded 90 billion dollars,” noting that “what we count on is not the central bank’s reserves, but rather the performance of public finances, which She now enjoys a very sufficient abundance of money.”
He added, “The central bank is the management of monetary policy and intervention to fix problems related to the exchange rate and others,” noting that “the bank’s reserves are still abundant and our procedures are rational.”
And he stressed the need for “public finances to be disciplined and direct public spending to real priorities instead of dispersing them,” pointing out that “public finances have an opportunity to compensate all those deprived during the previous years of those with fragile classes, social benefits and those with low salaries among retirees, as these classes We need aid for them.”
Al-Yasiri stressed that “controlling the performance of collection departments from customs and taxes, oil revenues will be a secondary source for financing the general budget.” LINK
Source: Dinar Recaps
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