Member of the Economic Committee: increase the value of the national currency requires economic development and diversification in financial income

Date: Tuesday, 31-03-2012 12: 11 pm

Baghdad (newsletter) ... Member of the Economic Commission, the National Alliance Deputy//Abdul Abbas sheyaa that increase the value of the Iraqi currency requires a comprehensive economic development for all sectors and diversity in state fiscal revenue.

Sheyaa said (News Agency news) on Tuesday: increase the value of the Iraqi dinar against foreign currencies and international needs to deliberate scientific plan for the development of economic sectors in the country, and making mention of unilateral state turning into multi-faceted with a large envelope of hard currency, as well as financial expenses in the State.

He added: the future to increase revenues Iraq through increased oil production capacity which will reach 6 million barrels per day during the year (2015), will increase State revenues and financial development of the economy of the country and the local currency.

Noted: the increase in fiscal revenues are insufficient to increase the value of the local currency, but that the process requires sustainable development of all economic sectors, whether agricultural or industrial, tourist, lift from sources of national income and GDP.

And when that happens, said: it will increase the value of the Iraqi dinar against foreign currencies and reduce prices of materials and goods in the local market with the survival value of salaries and operational appropriations fixed./finished/8. d/s.