Central Bank warns that the customs tariff will raise the rates of inflation and commodity prices

22 March, 2012 07:06:28

Warned the deputy governor of the Central Bank of the high rates of inflation in the country when applying the law of customs tariff, because it will lead to increasing prices of goods and foodstuffs.

The appearance of Mohammed Saleh said Thursday that the law on customs tariff is one of the internal factors that may lead to higher inflation rates in Albulader, adding that he will lead to increased prices of materials and.. goods imposed by the tariff Kmarkip in local markets, in addition to external factors play a role another and significant in high rates of inflation.

And Saleh said the imported goods, poor and non-essential to the community Kab children harmful circulating in the local markets significantly, would be imposed by the tariff Kmarkip thirtieth percent, adding that stores business today is full of these goods, which will pay the merchant to increase their prices in local markets, and this is what will play a major role in terms of higher inflation in the country.

He called for the need to impose high tariffs on materials Kmarkip poor and non-essential goods when imported from abroad, while food, medical, scientific, must be imposed by the tariff Kmarkip few being useful to the community and the citizens of Iraq.

The Ministry of Finance has announced the application of the law on customs tariff for imported goods and materials in early June, and calling it comes to product support local and national industry.