PARLIAMENTARY FINANCE’S (IBN): DECLINE IN CENTRAL BANK RESERVES TO $ 25 BILLION
PARLIAMENTARY FINANCE’S (IBN): DECLINE IN CENTRAL BANK RESERVES TO $ 25 BILLION
November 13, 2016
BAGHDAD / IBN
He stressed the parliamentary finance committee member Ahmed Hama to increase the Iraqi government expenses lead to a decline in central bank reserves, as pointed out that the size of the decline came to 26 billion dollars.
The flesh on Sunday in a statement singled out by the transmission of the Iraqi Network (IBN) The decline in central bank reserves resulted from the increase in government spending from revenues, adding that the increase in state spending in exchange for lower revenues will drain international reserves by central bank lending money to private banks or government to purchase government bonds.
He added that the Central Bank reserves fell close to 26 billion dollars, adding that the decline did not affect the date on the country, attributing the cause to the cash reserve of the Iraqi state is good.
He pointed out that a sufficient volume of reserves to meet the expenses of the state for more than six months, pointing out that it is not dangerous to low cash reserves.
ibnnews.net
