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Saturday, January 14, 2012 06:17
Economic source: Part of the Currency Auction of the Central Bank goes to the smuggling!!
BAGHDAD / Baghdadiya News / .. criticize an economist what he described as the financial deficit of the political crisis in the treatment of inflation
.
The economist said Dr. Sattar al-Bayati, that "high rates of inflation and instability indicate that fiscal policy is able to deal with inflation," noting that "the effective efforts of the Central Bank to curb inflation hit the financial policies that exacerbate the size of the inflation by the government which means that there imbalance in our economy overall.
Bayati called the "adoption of planning in the treatment of inflation and the development of specific rates to be access to it and are working to reduce them in the future according to the plan as is the case in developed economies."
The source said that "the imbalance in the exchange rate of the dinar is because of the organized smuggling of foreign currency into neighboring countries suffering from international sanctions referring to Syria and Iran."
The source said a senior official who asked not to be named in a statement to / Baghdadiya News / "The central bank injects each at an auction at least $ 300 million every day but do not go to the financing of trade, but to smuggling to Syria and Iran, a drain of reserves, national hard currency, indicating that this defect is not the responsibility of the Central Bank as it is the responsibility of the government, which should prevent the flow of hard currency abroad illegally.
The Central Bureau of Statistics announced a rise in annual inflation index for 2011 increased by 6% compared with the previous year, and that the index of monthly inflation for the month of last December of 2011 witnessed a slight hit (1%) compared with the month of November. / Finished / 26 / a. P
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Economic source: Part of the Currency Auction of the Central Bank goes to the smuggling!!
BAGHDAD / Baghdadiya News / .. criticize an economist what he described as the financial deficit of the political crisis in the treatment of inflation
.
The economist said Dr. Sattar al-Bayati, that "high rates of inflation and instability indicate that fiscal policy is able to deal with inflation," noting that "the effective efforts of the Central Bank to curb inflation hit the financial policies that exacerbate the size of the inflation by the government which means that there imbalance in our economy overall.
Bayati called the "adoption of planning in the treatment of inflation and the development of specific rates to be access to it and are working to reduce them in the future according to the plan as is the case in developed economies."
The source said that "the imbalance in the exchange rate of the dinar is because of the organized smuggling of foreign currency into neighboring countries suffering from international sanctions referring to Syria and Iran."
The source said a senior official who asked not to be named in a statement to / Baghdadiya News / "The central bank injects each at an auction at least $ 300 million every day but do not go to the financing of trade, but to smuggling to Syria and Iran, a drain of reserves, national hard currency, indicating that this defect is not the responsibility of the Central Bank as it is the responsibility of the government, which should prevent the flow of hard currency abroad illegally.
The Central Bureau of Statistics announced a rise in annual inflation index for 2011 increased by 6% compared with the previous year, and that the index of monthly inflation for the month of last December of 2011 witnessed a slight hit (1%) compared with the month of November. / Finished / 26 / a. P
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