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Tishwash: The decline in the reserves of the Central Bank of Iraq to 35 billion dollars .. And the reason!

The Parliamentary Finance Committee revealed, on Sunday, that the Iraqi reserve in the Central Bank of Iraq has decreased to 35 billion dollars after the withdrawal of the second loan by the government .

A member of the Parliamentary Finance Committee, Abdul Hadi Saadawi, said that “the reserves of the Central Bank of Iraq before the vote on the loan amounted to 51 billion dollars .”

He added that “the second loan voted by the House of Representatives pushed the government to withdraw 12 trillion dinars,” noting that “the reserve has decreased to 35 billion dollars .”

He explained that “the government has made Iraq in a difficult position and in front of it the remaining months of this year to take urgent steps to advance the economy to preserve the remaining reserves of the Central Bank of Iraq   link

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Tishwash:  Mazhar Muhammad Salih: A large financial surplus accumulated by individuals … the national economy is badly needed

The economic expert, Mazhar Muhammad Salih, confirmed: “The large financial surplus of individuals is important in internal investment and reducing the deficit in the next budget.”

He said in a statement to the Iraqi National News Agency ( NINA ): “If the budget for next year is built on an actual deficit and not hypothetically financed from the oil price differentials when the oil market improves for the benefit of exporters, then the deficit is only funded by borrowing.”

Muhammad Saleh added: “There may be a greater role for external borrowing this time, and perhaps internal borrowing this time will be directly from individuals or the public through making substantial improvements to the secondary market that handles buying and selling.
Here, the Iraq Stock Exchange will have a fundamental role in expressing the secondary market and promoting dealing with financial debt instruments among the public directly, as individuals and institutions. ”

He continued:“ There is a large financial surplus among the public concentrated in the form of hoarding disconnected from the income cycle, and the national economy is badly needed to move Real material and human resources through investment and financing it from the internal financial energies of Iraq. ”

The Prime Minister Mustafa Al-Kazemi asked the Ministry of Finance to quickly send the budget for next year to the Council in order to discuss, approve, and send it to Parliament.”   link