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How did reducing inflation help stabilize commodity prices in Iraq?
November 2, 2024
Baghdad/Iraq Observer
The Association of Private Banks confirmed on Saturday that the government's success in reducing the inflation rate to 3.8% helped stabilize commodity prices.
The Executive Director of the Association of Private Banks, Ali Tariq, told the official agency, followed by “Iraq Observer,” that
“the Association of Private Banks and the Central Bank of Iraq held a symposium entitled
(The Statistics Cycle in Drawing up Monetary Policy),” indicating that
“the use of statistical data and information is a methodology adopted by the Bank.” The Central Bank of Iraq, especially in the recent period in making decisions, whether at the level of
monetary policy or
decisions that affect the economy in general.” He added,
“The aim of the symposium is to
clarify economic, financial and banking data to the public by specialists. To view the data published on the Central Bank of Iraq website: To
clarify progress and shortcomings regarding the financial sector or monetary policy.” Tariq stressed that
“one of the important indicators is related to the banking sector, the
size of deposits, or the
size of the monetary mass, and the
distribution of deposits between the government and private banking sectors, in addition to the
impact of credit and loans and on the gross domestic product,” explaining,
“On the other hand, as economic indicators, the most important of them was the inflation rates that It decreased significantly in the recent period to reach 3.8 percent,” noting,
“This is considered an excellent percentage that maintains the stability of commodity prices and
thus the price increase is less for the citizen.”
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November 2, 2024
Baghdad/Iraq Observer
The Association of Private Banks confirmed on Saturday that the government's success in reducing the inflation rate to 3.8% helped stabilize commodity prices.
The Executive Director of the Association of Private Banks, Ali Tariq, told the official agency, followed by “Iraq Observer,” that
“the Association of Private Banks and the Central Bank of Iraq held a symposium entitled
(The Statistics Cycle in Drawing up Monetary Policy),” indicating that
“the use of statistical data and information is a methodology adopted by the Bank.” The Central Bank of Iraq, especially in the recent period in making decisions, whether at the level of
monetary policy or
decisions that affect the economy in general.” He added,
“The aim of the symposium is to
clarify economic, financial and banking data to the public by specialists. To view the data published on the Central Bank of Iraq website: To
clarify progress and shortcomings regarding the financial sector or monetary policy.” Tariq stressed that
“one of the important indicators is related to the banking sector, the
size of deposits, or the
size of the monetary mass, and the
distribution of deposits between the government and private banking sectors, in addition to the
impact of credit and loans and on the gross domestic product,” explaining,
“On the other hand, as economic indicators, the most important of them was the inflation rates that It decreased significantly in the recent period to reach 3.8 percent,” noting,
“This is considered an excellent percentage that maintains the stability of commodity prices and
thus the price increase is less for the citizen.”
[You must be registered and logged in to see this link.]
