Parliamentary Finance: chunky 32 trillion dinars in homes and on government investment

Since 01.19.2016 at 10:07 (GMT Baghdad)

Special - scales News

He stressed the Finance Committee in the House of Representatives member Hossam punitive, Tuesday, on the need to withdraw money stored in the homes of citizens in order to take advantage of, noting that 32 trillion dinars chunky in homes.

He said the punitive L / scales News /, "The banking sector should pay attention to him and restructuring and reconsider the mechanisms of work done," pointing to "the need to take strong and bold action by the central bank and the government to withdraw the Iraqi dinar Iraqi homes by launching an internal bonds of the benefits of not less than 7% to 10% annually. "

He added that "97% of the Iraqi currency printed exist in homes chunky and does not exist in the market and non-current in banks which is estimated at 32 trillion dinars," pointing out that "the investment of these funds will lead to the creation of more projects and work more bigger and trading in the market and the high value of the dinar Iraqi and this step should be that we work quickly to prevent exposure of the economic crisis. "

Oil is the main source of income for the budget in Iraq, as revenues constitute approximately 90% of the total financial budget.

But the drop in oil prices led to a significant budget deficit in the country, prompting the government to increase production in order to reduce the deficit, external borrowing, which always warns him supreme religious authority and economic experts.

While government officials calling for diversifying sources of income and activation of agricultural and industrial production sectors, duties and taxes rather than relying on oil. / Ended 29 n / 10

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