Parliamentary Finance announces the high cash reserves of Iraq to 87 billion dollars

Parliamentary Finance announces the high cash reserves of Iraq to 87 billion dollars

12/20/2019 10:46 AM

US Dollar-Iraqi DinarAl-Ahed News- Baghdad
The Parliamentary Finance Committee announced that Iraq has a cash reserve estimated at $ 87 billion, indicating that it is sufficient to cover Iraq’s operational needs for about a year and a half.
Member of the Finance Committee, Ahmed Hama said, “According to the international frameworks, the country that has a cash reserve covering its operating expenses for six months is considered to have a relatively stable economy.”
He added that “Iraq needs 5 billion dollars a month to cover its operating expenses from the salaries of state employees and the conduct of daily life,” noting that “Iraq, according to global accounts, needs 30 billion dollars in operating expenses for six months.”
He explained that “the total Iraqi cash reserves of currencies, gold and financial securities is estimated at about 87 billion dollars,” noting that it “covers Iraq’s operating expenses for a year and a half.” End 2

alahadnews.net