******** Conscious / economic expert: increase foreign exchange reserves evidence of economic recovery

16/04/2019 12:09:00 PM

Conscious / Baghdad / L

Economic expert Salama Smisem said on Tuesday that increasing Iraq's foreign exchange reserves from the dollar is a guarantee for the stability of local currency and market exchange.

"The continued increase in foreign currency reserves in Iraq is evidence of the recovery of the economy and growth after the crisis that hit the country, noting that the raising of the cash reserve contributes to the stability of the dinar exchange rate and strengthen its global standing as well On the possibility of investing it as an ideal guarantee for the economy.

She added that the economic abundance of the government will contribute to reducing dependence on external loans, as well as the possibility of repayment of internal debts such as dues of farmers and contractors and the remaining investment in the establishment of schools and urban life.

On Tuesday, Central Bank of Payments director-general Suha Abdul Karim announced the rise in foreign exchange reserves from $ 40 billion to $ 62 billion, while the bank's success in controlling inflation was confirmed.




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