The Governor of the Central Bank of Iraq revealed important figures about the Iraqi economy and its foreign currency reserves.
Ali Al-Alaq said during his participation in the Middle East Forum 2024 (Miri) session in Erbil, that “the volume of currency issued in circulation is approaching 100 trillion dinars,” indicating that “the foreign currency reserve exceeds 100 billion dollars.”
He explained that “next year will witness major transformations in the restructuring of government and private banks.”
He pointed out that “the growth rate of the money supply rose from 46 trillion to 100 trillion within two years,” noting that “the external debt does not exceed 20 billion dollars.”
Al-Raqqa confirmed that “the inflation rate currently stands at 3.8%, which is a typical rate,” revealing that “the Central Bank has granted a license to 16 electronic payment companies.”
