Economists warn of an imminent collapse of the Iraqi dinar

Since 09.15.2015 at 08:55 (GMT Baghdad)

Follow-up - the balance of News

Economists warned of the imminent collapse of the Iraqi dinar, the center of economic and security chaos plaguing the country, and the government's inability to pay employees and retirees and the ongoing war with the requirements of the "State" salaries.

Experts pointed out that this will push thousands of young Iraqis to migrate to Europe, while millions of Iraqis struggling in Anbar and Mosul and Salahuddin hardship, after cutting state salaries.

For his part, said economic expert, Mazen al-Obeidi: "The past eight years of the rule of former Prime Minister Nuri al-Maliki, has seen historically in vain for the money and the budget of the entire Iraq on fake projects and ministries have been developed for quotas between the parties, and not for the country's needs."

"The government has wasted more than 800 trillion Iraqi dinars, except for the hidden amounts of billions of dollars, no one knows yet where I went, and thus emptied the treasury Iraq", as stated by the new Arabic.

Obeidi said that "the likelihood of an imminent collapse of the Iraqi dinar against the US dollar has become a big; The state was forced to borrow from private banks to cover expenses, and the central bank announced its intention on the sale of gold bullion for citizens to support the financial liquidity, while the Iraqi parliament approved the 2015 budget on the price of $ 56 a barrel one, while oil is witnessing volatility and a clear decline, the regional changes and the war on "Daash", as it fell to $ 45 a barrel in front of the extraction cost of up to $ 6; and this means a deficit of $ 17 per barrel. "


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