CBI calls for review of the operating expenses
07/11/2011 11:55:00

The independent Iraqi news agency / g. G .. CBI stressed the importance of reviewing operating expenses. The deputy governor of the Iraqi Central Bank Mazhar Mohammad Saleh in an interview with the reporter (and independent Iraqi news agency) that "the bank would intervene strongly to curb inflation if arrived at two places in the decimal places when he called for review of operating expenses in the general budget".
Saleh added "There are a lot of doors in the budget exchange Operational incorrect. "Noting that" Iraq has not seen since the 20-year decline in annual inflation to the level of One decimal place only during the year 2011, and reached the figure in February To 3 per ten to rise gradually after that to arrive in August to 7.6 per ten To fall in September to 7.3 per ten " .
He explained that "the Central Bank Iraqi monitors indicators of inflation in Iraq with the gradual rise during the The past months. He pointed out that "the Bank will intervene strongly to curb inflation Moments when what he found up to the stages of stability and worry about approaching the decimal two places And up to 10% or more, the fact that monetary policy is able to Accommodate inflation. " .
Saleh continued that "inflation in Iraq in most facets Importer due to the importation of food and rising global oil prices, as well To the high rent houses instead of internally. He pointed out that "the Bank is able To tackle inflation through the use of bank monetary tools to properly support And the assignment of the Iraqi currency by controlling the levels of cash flow and enhance Purchasing power of the Iraqi dinar by the use of signals and the exchange rate Interest .
In another context, called the deputy governor of the Central Bank of the government The need to review operational expenses Iraqi budget full public through re-engineering and the study budget Operational. He added that the operating budget where a large waste of .
He For that there are a lot of doors in the exchange operating budget is incorrect And poor management, corruption, mismanagement and waste and expenditure is correct. Noting that "there Institutions have been created since the beginning of the establishment of the Iraqi government after 2003, And expired .
The previously announced Central Bank of Iraq, in the 28 of the Last August about inflation to more than 7% during the month of July . While expressing concern about the aspect ratio, although it Under one decimal place, he stressed that monetary policy will limit this trend And absorb part of the demand pressures and inflation expectations .

The Ministry of Planning Announced on 13 October, the inflation index during the month of September last, Increased by one percent compared with last August, while the index rose Relatively high annual rate of $ 5 per cent compared with same month of the year Last 2010 .
The Central Bank of Iraq and is headquartered in Baghdad And has four branches in Basra and Sulaymaniyah, Irbil and Mosul, Iraqi founded the bank Independent under the law of the Central Bank of Iraq issued On 6 March 2004, and shall be responsible for maintaining price stability and the implementation of Monetary policy, including exchange rate policies and the management of foreign reserves And the issuance of currency management, as well as to regulate the banking sector .