Central Initiative supports sustainable development plans

Admin Wed Oct 14, 2015 5:54 pm

10/15/2015 0:00

BAGHDAD joy pumice
The central bank aims trends in its project to launch small and medium-sized loans for the first time in Iraq since the change in 2003 to support development, to be an important factor creates and supports the foundations of a sustainable stability during the next phase.

The central bank launched early last August $ 5 trillion dinars loans for banks (industrial, agricultural, real estate) to support small and medium enterprises, which assigned the development process in the country.

In this regard, the economic affairs adviser in the Prime Minister Dr. Abdul Hussein Al-Anbuge pointed out that the Central Bank of trends was the first of its kind after it was Mtnsla for this task and encircled cycle in the stability of the bank not being a development bank.

He said Anbuge »Sabah» that sponsor the creation of a sustainable stability of development, while the central works on stability (stability or improvement in the dinar exchange rate), as it led the new orientations to respond to the need of real Iraqi economy and to respond to the advancement of sectors, production and service requirements.

And between the Chancellor said the new platform's monetary policy aims to hand the stability and development (the central bank), it is isolated from the problems of development, including the meaning of the stability of the dysfunctional to inflation or deflation on the grounds that inflation was caused by real cash factors.

On the other hand, Anbuge that saw the previous monetary policy was working as a bank only stability, isolated from the problems of development works to adjust the exchange rate only, believing that under the Iraqi economy, the price of the dinar exchange rate, keep pace with the decline in oil revenues to less than half, and the face of the government to the challenges of spending , it led to the decline in foreign exchange reserves, thereby increasing the sale of the dollar auctions to meet the demand, and the weakness of the currency cover, leading to swallow up and lack of development.

http://www.alsabaah.iq/ArticleShow.aspx?ID=102343