Deputy Governor of the Central Bank expects continued rising inflation; Monetary reform needed
October 4th, 2011 06:35 am
Baghdad (news) .. most likely the deputy governor of the Central Bank of the appearance of Mohammed Saleh, the continued increase in inflation rates in Iraq, in the event of failure to take fiscal and monetary policy actions necessary to reduce this phenomenon, citing the reasons for growing, ongoing for months in a row to higher prices for imported foodstuffs.
said Saleh in a statement to the Agency (news) on Tuesday: that inflation in Iraq will continue to increase if it continues policies have the monetary and financial of Iraq to develop the steps necessary and decisive action to curb this dangerous phenomenon, pointing to this type of inflation, which is called (transition or importer ) if left without treatment would cause damage, “chronic”, through pressure on the cost decimal continuously, leading to increased rental rates for real estate and food in local markets.
He said Mohammed Saleh, that the reasons for increasing the rate of inflation in Iraq for months in a row due to an increase in food prices imported from abroad, the fact that Iraq lacks the domestic production of food, indicating that these materials prices high globally as a result of the global economic crisis and continued: that Iraq is part of the world is affected by any change affecting global markets.
The Deputy Governor of the Central Bank that the trade account of the payments system in Iraq enjoyed a surplus of Mali, this is something that reduces the risk of inflation in Iraq, as well as that Iraq is exporting oil than it imports Vtatherh on the economy will be small although there is an increase in the rate of inflation, said that the Iraqi economy is one of the economies stagnant and powerful at the same time, he faces problems economic with ease.
October 4th, 2011 06:35 am
Baghdad (news) .. most likely the deputy governor of the Central Bank of the appearance of Mohammed Saleh, the continued increase in inflation rates in Iraq, in the event of failure to take fiscal and monetary policy actions necessary to reduce this phenomenon, citing the reasons for growing, ongoing for months in a row to higher prices for imported foodstuffs.
said Saleh in a statement to the Agency (news) on Tuesday: that inflation in Iraq will continue to increase if it continues policies have the monetary and financial of Iraq to develop the steps necessary and decisive action to curb this dangerous phenomenon, pointing to this type of inflation, which is called (transition or importer ) if left without treatment would cause damage, “chronic”, through pressure on the cost decimal continuously, leading to increased rental rates for real estate and food in local markets.
He said Mohammed Saleh, that the reasons for increasing the rate of inflation in Iraq for months in a row due to an increase in food prices imported from abroad, the fact that Iraq lacks the domestic production of food, indicating that these materials prices high globally as a result of the global economic crisis and continued: that Iraq is part of the world is affected by any change affecting global markets.
The Deputy Governor of the Central Bank that the trade account of the payments system in Iraq enjoyed a surplus of Mali, this is something that reduces the risk of inflation in Iraq, as well as that Iraq is exporting oil than it imports Vtatherh on the economy will be small although there is an increase in the rate of inflation, said that the Iraqi economy is one of the economies stagnant and powerful at the same time, he faces problems economic with ease.