Deputy warns against use of Central Bank reserves
Deputy warns against use of Central Bank reserves
04/23/2014
Said a member of the Committee on Economy and Investment House that a failure to approve the law of the state budget for 2014 lead to the continuation of government’s borrowing from the Central Bank of Iraq to cover the expenses of the investment budget, which could affect the Reserve Bank cash in hard currency.
added Rep. Nora Salem in an interview with Radio Iraq free that the House had not seen the size of the amounts borrowed government so far until the adoption of the budget in 2014. , it said economic expert Majid picture that the central bank law does not allow the use of reserve funds of cash, despite the vacation law government borrowing from the Central Bank to be returned him money from the budget in 2014, while approval. In this context, he said economic expert Dargham Muhammad Ali that continued government borrowing from the central bank would hurt the Iraqi economy, calling on the House of Representatives to speed up adoption of the budget.
iraqhurr.org
