The central and central banks support the budget by 200 billion dinars





28/8/2017 12:00 am

Baghdad / Al-Sabah

The Central Bank will organize a new auction for the sale of treasury remittances of the Ministry of Finance for the period of 364 days with a total value of 200 billion dinars.

A source for the "morning" that the auction mentioned is the eighth auction of its kind within the plan of the Ministry of Finance to issue treasury transfers for the current year, in order to reduce the temporary deficit in the general budget through domestic borrowing by selling treasury remittances at an auction organized by the Central Bank.

The central bank, as the financial agent of the ministry to manage auctions of remittances based on the Public Debt Law, which authorized the Ministry of Finance to issue treasury transfers guaranteed by the government for the purposes of government funding to meet part of the temporary deficit in the general budget of Iraq.

According to the source, it is hoped to sell the full amount of issuances to the beneficiaries who will participate in this auction.

The central bank announced the results of the sale auction of Treasury remittances, which was held on the twenty-third of this August. In a statement, the Ministry of Finance approved a public auction for auction Y34 for the sale of treasury bills for 364 days and 200 billion dinars.

The total amount of the auctions was sold at the highest competitive auction rate of 4 percent and the average yield of 4 percent.
He pointed out that the number of participants in the auction amounted to 6 beneficiaries and one of them won the offers.

The Ministry of Finance announced its plan to issue treasury bills for the annual period (364 days) for the year 2017, which includes the establishment of 11 public auctions to sell these remittances to beneficiaries such as banks, social welfare services, retirement and minors.

According to the plan announced by the ministry, the total amounts of the issuance of two trillions dinars is expected to be sold in full to meet the proportion of temporary deficit in the general budget.

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