The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, that the growth rates of the non-oil gross domestic product will rise in an unprecedented manner during the year 2024, while indicating that the government program succeeded in controlling financial diversity in the general budget and the national economy in general, and he indicated that the calm methodology of financial policy contributed to organizing the liquidity of the general budget and stabilizing the economy .
Saleh told the Iraqi News Agency (INA), “The increase in non-oil GDP growth rates was accompanied by an important role for monetary policy and its role in regulating the monetary sector under Central Bank Law No. 56 of 2004,” adding that “this monetary policy is sound and has not strayed from the circle of consultation and cooperation with the financial policy and the government’s economy, which still dominates 65% of GDP and 98% of foreign exchange flows .”
He pointed out that “the financial sector contributed, through the dissemination of some developmental government borrowing tools, and the sources of formation of those foreign reserves from oil revenues, to building the monetary base, and then building the money supply in the country .”
The Prime Minister’s financial advisor expected “the continuation of the calm approach to financial policy during 2025, which contributed to deepening the circle of consultation and close cooperation with the Central Bank and its monetary policy in regulating the liquidity of the general budget and the stability of the macroeconomy without intersection or isolation,” noting that “this matter enhanced the success of the country’s economic policy during 2024 in international and regional circumstances that were extremely complex .”
Mazhar concluded his statement by saying, “The Central Bank represents the financial agent of the government, and is responsible for managing the central accounts of external and internal public finances, in addition to cooperating in organizing government payments and managing public liquidity according to highly accurate accounting and technical procedures and a methodology that central banks around the world are keen on in order to achieve the highest goals in the national economy .”
