Central Bank of Iraq plan to curb inflation of iraqi dinar as soon as possible
On Sunday, showed that the Central Bank of Iraq, its willingness to intervene to curb inflation, reached in the case of two characters after the series. You should review the general operating budget, called the Central Bank, said that many of the costs are not exact in the operating budget.
“I fell for the first time in 20 years, annual inflation at one-tenth of Iraq, which is to 10.3 in February 2011. After that, the speed is gradually increased until August, 06/07/10, and then declined slightly in September 2011 07/03/10 years “,” Deputy Governor of Central Bank Mazhar Mohammad Saleh said Iraqi Alsumarianews.
“Central Bank of Iraq (CBI) is to monitor the inflation target in Iraq and its progressive increase in recent months,” said Saleh. “CBI monetary policy is capable of inflation,” he said. “Therefore, the bank can respond quickly to achieve the impact of inflation in the case of the phases, the stability of a series of two decimal places, ie 10% or more to stop,” he added.
“Inflation rent in Iraq, mostly imported through food imports, higher world oil prices,” plus a boom in housing prices, “said Saleh.” CBI can inflation through the use of monetary policy instruments to cope, “he said.” The Bank manages the cash flow in order to defend and maintain the currency of Iraq and the exchange of signals and are used to increase interest rates the purchasing power of the Iraqi dinar, “he said.
Lieutenant Governor referred to the Iraqi government “to take full account of Iraq’s total costs of reengineering operating budget and operating budget review .. “” There is a huge waste of energy resources in the operating budget, “he said.
“There are a lot of incorrect operating expenses of the budget and impotent administration, corruption, mismanagement, waste of resources and inaccurate allegations” revealed Saleh. “Many institutions have established the formation of the Iraqi government in 2003, is not effective,” he adds.
August 18 the Central Bank of Iraq announced that inflation has risen to over 7% in July. Monetary policy to curb growth and absorb some of the demands and expectations of inflation, said Saleh expressed his concern about the increase, although still less than 10%.
Source : alsumaria.tv
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