Expectations of a substantial increase in inventories Financial Iraq next year!
Expectations of a substantial increase in inventories Financial Iraq next year!
Posted, 8/12/2013 0:00
Saadi: allocations for sustainable development will be a wider
BAGHDAD – Farah pumice
experts expected a large increase in inventories of strategic cash over the next year, with the escalation of oil production and exports after the success of Iraq on leave licenses granted to international companies in this area to achieve sustainable development even with the instability of the sale price of a barrel oil.
Chairman of the Securities Commission, Dr. Abdul Razzaq al-Saadi told the (morning): “The cash reserve has nothing to do at the currency, but these prices determine, according to monetary policy defined by the Central Bank, which is controlled by the so-called currency auction.”
he added Saadi said the stockpiling cash benefit over the next year so that will be the customizations and the risks to sustainable development in the country wider and bigger and ensure this development even with the instability of the global price of oil, believing that stockpiling strategic cash would rise because oil production is on the rise and vacations licenses granted to companies began production, This is what leads to the oil pump standards more and can therefore access to the country’s share in OPEC.
And that stockpiling cash supporting the national economy fully, it also depends on the international data, meaning that if Iran began exporting oil, especially after the recent agreement with the United Nations, the Oil prices will not escalate at the same pace, but that Iraq probably will not be affected because its production is on the rise. also felt he should pursue adjective free, and there will be strict control on money laundering and to give wide latitude to the banks in their work according to the data of this market, calling to request classification Country credit to reduce the problems faced by (banks).
was the central bank had announced the end of last week and the arrival of the country’s reserves of hard currency to 88 billion U.S. dollars, after it was 80 billion dollars early October last year., in turn, said a member of the parliamentary Finance Committee Abdul Hussein al-Yasiri in a press statement: “The increase in the balance of Iraq’s central bank is the pillar of the national currency in the currency auctions international, as fully covered by the country’s reserve of cash.”
He said the Iraqi citizen has the ability to use its national currency in financial transactions outside the country, confidence foreign banks that any issuance of cash Iraqis linked to a blanket of hard currency or gold.
alsabaah.iq
