Economist: Iraq Savels constantly central bank sold the dollar

History of edits:: 2016/1/28 8:45 • 377 visits readable

[Baghdad - where]
an economist warned of the bankruptcy of the Iraqi state in the event of continued central bank selling treasury of the dollar.

The economist said David Zayer told all of Iraq [where], that "the depletion of central bank balance of the dollar will arrive to the bankruptcy of the state, after we crossed the bankruptcy of the government stage, because this depletion leads to reset your bank balance of hard currency."

He explained that "the bankruptcy of the state lead to the inability to economically deal with other countries, stressing that the sale of the Central Bank foreign currency violation of the law, because he does not have a law to sell the currency and can buy the currency, but is justified as buying the Iraqi dinar and this is illegal.

"He noted Zayer that" he is supposed Administration Dollar money that comes from oil wealth and other investment projects, not turn them into consumer products, because the financial reserves in the world where more than, more than economic weight, but that happens in the country that we alter this hard currency local Iraqi dinar who does not work outside the Iraqi border.

"The official document of the Finance Committee in Parliament revealed that the central bank sold the amount of the US dollar in the past year 2015 more than Iraq's imports of foreign currency obtained from the sale of crude oil in the same year.

showed the document to state revenues from oil for the year 2015 amounted to $ 38 billion, while sales were Bank the same year more than $ 44 billion, a difference of more than five billion dollars, that is what sold Iraq of foreign currency more than its imports from them.

The Iraq faces a financial crisis due to the sharp decline of oil, in terms of financial budget for this year with a total expenditure of more than 105 trillion deficit accounted for 22.8%, reaching a total revenue of the 81 trillion and 700 billion dinars, the oil revenues, of which 69 trillion and 773 billion dinars The increase of 85.1% of total revenues, while non-oil revenues amounted to more than 11 trillion and 927 billion dinars The increase of 13.6% of total revenues .anthy 2