Central bank: remittances which we bring monthly investment aims to bridge the budget deficit

2016-07-18 22:33:59 | (Voice of Iraq) - Baghdad

The Central Bank of Iraq, on Monday, that the drafts presented by the bank a month to the Ministry of Finance come to finance the deficit in the 2016 budget, as pointed out that the Treasury purchased by public pension department and care for minors and two banks worth 400 billion dinars remittances come to withdraw excess liquidity from banks or those who have the ability to give up liquidity.

The director of financial operations at the Central Bank , Mahmoud Dagher "These orders are part of a program to withdraw liquidity and providing the public treasury on a monthly basis , " pointing out that "this program ceiling of 400 billion dinars comes to withdraw excess liquidity from banks or entities that have the ability to abandon liquidity and get a return on this investment. "

Dagher said, that "remittances is a program that is done by the system posed by the central bank a month to the Ministry of Finance in order to finance realized deficit in the state budget for 2016".

The Iraqi Central Bank announced on Monday (July 18, 2016), that the care of minors and public retirement and banks bought treasury remittances worth 400 billion dinars, adding that the number of participants in the auction amounted to four participants.