The government is facing a shortage of Iraqi dinars on the local market
28/09/2016 12:44

The government is facing a shortage of Iraqi dinars on the local marketNational Center Brief / NNC – A senior government official confirmed today, that the fiscal policy of the Iraqi government in general is facing a shortage of Iraqi dinars on the local market, pointing out that the Ministry of Finance is selling 80% of dollar revenues to the central bank and then the latter to sell hard Eulma the market gets to the Iraqi dinar.

The official, who declined to be identified said that “there are out of hard currency out of Iraq because of the security and economic conditions experienced by the country, pointing out that the central bank gives the freedom of the individual to act in the funds, whether the currency conversion abroad for reasons to travel or invest outside of Iraq.”

And that “the Iraqi dinar is an internal expenses, government contracts and its imports are considered hard currency, pointing out that” fiscal policy of the Iraqi government in general is facing a shortage of Iraqi dinars in the local market. ”
And that “the Ministry of Finance get foreign exchange earnings increased by 100%, pointing out that the financial sell 80% of foreign currency to the central bank to be put up in the market to sell and get the Iraqi dinar is then cashed in the local market to be traded in terms of the payment of staff salaries “.

He pointed out that “the occurrence of financial crimes and thefts for some banks pay the central bank to intensify actions on the banks to protect the capital, stressing that the central bank has no any auction for the sale of hard currency in the whole of Iraq.”

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