Economist: The decline in reserves of the Central Bank came because of the bank's entry as a financier of many banks



23/05/2017 12:27 | Number of readings: 355


Direction Press / Special

The economic expert Bassem Jameel Antoine, said today that the decline in the reserve of the Central Bank came due to the entry of the bank as financier of many banks to save the process of development and economic decline.

Antoine said in an interview for the "trend" He added that "the central bank gave treasury bonds to the Iraqi government to fill the deficit of 21 billion dollars, the equivalent of 21 trillion dinars," noting that "the Iraqi economy in decline in revenue due to low oil prices."

"The Iraqi economy needs radical treatments through its transformation from consumer to producer through the activation of the productive sectors of agriculture, industry and tourism."

He pointed out that "If these amounts withdrawn from the Central Bank for development purposes acted to develop the productive sectors and the private sector in particular Vakhov and consider the economy is good," noting that "the amounts paid to salaries and non-productive sectors and does not cover the rate of interest you borrow is a mistake."

Link