Central Bank: report of the International Monetary supports our goals in the liberalization of the foreign exchange market

30/07/2013

BAGHDAD / obelisk: informed banking sources said that the report on the acts of the Executive Board of the International Monetary Fund last May endorsed the central bank's target Iraqi central goal of liberalization of the foreign exchange market.

The sources said in a statement "obelisk" that "what has been recently taken steps to simplify the rules of the market regulatory Born satisfaction of the Executive Council of the progress made by the central bank recently in the context of strengthening banking supervision and efforts to restructure the bank good and Mesopotamia."

The report was issued by the International Monetary Fund for Iraq, has recommended that the pace of structural reform to boost growth and job creation in the private sector, and the need to continue the good governance of foreign reserves at the Central Bank of Iraq and the Development Fund for Iraq.

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Finance Committee: more than 188 trillion dinars budget in 2016

30/07/2013

BAGHDAD / JD / .. announced the Finance Committee in the House of Representatives that the 2016 budget will be more than 188 trillion dinars.
Committee member said Magda al-Tamimi told the reporter / JD / within the Committee prepared for the budgets of Iraq strategy for the years 2014, 2015 and 2016 to be identified last year's budget up to 188 trillion and 188 billion dinars.
It showed that the total expenditure will be up to 178 trillion and 316 billion, noting that specified for the deficit in 2016 would be around 10 trillion and 567 billion dinars, or 3 percent of GDP.
And hinted Tamimi, he was awarded a price of a barrel of oil in 2016 up to 90 dollars per barrel, while the estimated quantities of oil production by 4.65 million barrels per day, noting that the exchange rate of the dollar will be up to 1.16 dinars per dollar.
The Finance Committee has announced that the 2015 budget will be increased by 157 trillion and 285 billion dinars
Said committee member Magda Tamimi in an earlier statement to the reporter / JD / he was forming a committee to prepare a budget strategy for the coming years, including the budget 2015 will be the total revenues have increased by 157 trillion and 285 billion dinars, while it will be the total expenditure of $ 168 trillion and 837 billion.
She added that the deficit in the budget year will be mentioned by 11 trillion and 552 billion, noting that he will be calculated per barrel of oil at $ 90 in quantities of oil source is estimated at 3.85 million barrels per day.
And alerted Tamimi that calculating the exchange rate of the dollar will be increased by 1.16 dinars, pointing out that the Commission had not received the report of a central location around the dinar exchange rate against the dollar, prompting the Commission to adopt the exchange rate on previous years and such a thing is not permitted at all. / End / / 23 

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Deputy: Ministry of Finance required to open windows for the sale of hard currency in all provinces to support the price of the dinar

30-07-2013

Baghdad (news) .. Student member of the Finance Committee MP / National Alliance / Amin Hadi, the Ministry of Finance to coordinate with the Central Bank to open the windows sale of hard currency in all branches of government banks to the generality of the country so as to prevent the monopoly of banks selling certain without the other.

Hadi said (of the Agency news): Some private banks are trying to monopolize the sale of hard currency to their advantage, which led to increase in the exchange rate of the dinar against the dollar, as a result of the existence of an imbalance in the balance of supply and demand for dollars in the local market.

He added: The Ministry of Finance required to develop a plan to open special outlets for the sale of hard currency in all branches of the Rafidain good governance in the country, both in Zakho or FAO to deliver the dollar to target groups of traders and businessmen or travelers and others, so as to support the stability of the dinar exchange rate, noting that the state needs badly because most of their dealings dinar to the dollar.

Has seen the Iraqi dinar exchange rate during the past few weeks a significant decline against the dollar, which made economists fear its impact on the country's economic wheel. / End / 8.'s. M /

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