Economic Adviser to the servants, administrative constraints behind the rise in dollar prices

الثلاثاء مارس 10 2015 | 04:41 مساء


BAGHDAD / ... stressed economic advisor to the Prime Minister Dr. The appearance of Mohammed Saleh, on Tuesday, the high dollar prices came as a result of administrative constraints and not because of the weakness of the financial reserves, adding that the Iraqi economy is strong and will not affected by this rise.

Saleh said in a statement the "eye Iraq News", "The main reason lies in the restriction of the central bank in Article 50 of the federal budget for 2015, which provides for the central bank's commitment to allocate $ 75 million for the purchase of foreign currency," adding that "this matter reduces the flexibility to expand the sale, in other words if it came requests exceed 75 million dollars, the bank will not be able to be covered, thus Alji merchant to the black market. "

Saleh added that "the Central Bank has established procedures for the collection of tax and customs tax profit from the merchant in advance, while the foreign currency conversion and this new mechanism," noting that "this mechanism is excellent in achievement and raise tax revenue for Iraq, but at the same time are considered a burden on traders."

Saleh continued that "the central bank has a liquidity reserve covers and a half times," pointing out that "the rise in dollar prices is due to administrative constraints and not because of the weakness of the reserve, and a strong reserve but administrative restrictions stronger than he."


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