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Decline in the annual inflation rate of 3%
08/03/2011 0:00
Baghdad / future Iraqi
Central Bank of Iraq, the retreat rate of annual inflation for the first time in Iraq, to 3 percent, while pointing out that the doubling of rates of inflation after the month of February of this year was due to increased inflation area dollar at the global level, expressed the readiness of the Bank to intervene to maintain monetary stability in case the inflation, the Red Line.
The adviser said the Central Bank of Iraq the appearance of Mohammed Saleh, the level of annual inflation fell for the first time in Iraq, to 3 percent, returned in triumph for the policy of economic and monetary Iraq in particular.
However, the benefit, saying only that he observed since last February Even today, a rise in the level of inflation, indicating that inflation is due to the vulnerability to the phenomenon of inflation in the dollar on the global level, and because Iraq has used the dollar in import operations, noting that food increased from July 2010 until July 2011 by 40%, and industrial materials some 38 %. The adviser to the CBI the bank's readiness to intervene in order to maintain monetary stability in the event exceeded the rate of inflation, the red line, and approached the two places decimal places or less of them at a given.
With regard to the Fiscal Stabilization of Iraq, Salih said that the general budget of the Iraq planning or discretionary for a year and not of income, capital, indicating that the expenditure extends throughout the year and therefore, there is a balance between revenues and expenditures. He continued, was set a budget based on a deficit of about 17 trillion Iraqi dinars, and based on the price of $ 76 and a half of a barrel of oil, with export capacity of 2.0002 million thousand barrels per day, but he also, but if Iraq sold its oil at a higher price of $ 76 and a half it would be a surplus budget. The Iraqi Central Bank was established as a bank independent under the law of the Central Bank of Iraq issued on March 6, 2004, and is responsible for maintaining price stability, and implementation of monetary policy, including exchange rate policies, and management of foreign reserves, and the issuance of currency management, as well as regulate the banking sector to promote a competitive financial system and independently.
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