Iraq's oil reserves and gold
24/08/2015 02:45

Taati Iraq fortunes decline year after year gradually.

BAGHDAD / Obelisk: detecting a decision the parliamentary finance committee, said the reserve Iraq of wealth of $ 59 billion, and 90 tons of gold, stressing that the country's reserves decline year after year, the main reason for the drop in oil prices, which amounts to $ 40 per barrel.

Said Ahmad Haji Rashid, told the Iraqi media, "the wealth of Iraq reserves year after year decline gradually, especially the dollar reserves, and who knows the Fed, and so declined significantly compared with recent years."

Rashid added that "Iraq reserves of the dollar in 2013 in the Iraqi Central Bank, amounted to $ 84 billion, and in 2014 dropped to $ 77 billion, and in 2015 this fell to its lowest level of $ 59 billion, and the reason is linked to the price of the dollar down."

He was referred to the Attorney, that Iraq's oil revenue of $ 150 million, but the central bank pumped $ 300 million a day in the markets, and this is what a negative impact on the country's reserve of the dollar.

He pointed out that it is different for gold reserves, which rose Iraq's reserves of gold compared to previous years, in 2013, gold reserves reached 29 tons, but now has the country's reserve of gold 90 tons, and if it continues to decline in the price of oil in this way, which arrived 40 dollars per barrel, it is possible that the negative impact on Iraq's reserves of gold and the other is experiencing decline.