Friday, December 10, 2010

Chap VII release will integrate Iraq with international economic community

CBI describes economic growth for 2010 as shameful;Chap VII release will integrate Iraq with international economic community

Posted: December 9, 2010 by Justhopin in Iraqi Dinar/Politics
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Baghdad, 9 December / December (Rn) – The Iraqi Central Bank rates of economic growth for the year 2010 as “shameful” compared with past years.

The adviser said the Central Bank of Iraq in favor of the appearance of Mohammed in an interview with Kurdistan News Agency (Rn), “The economic growth rates for 2010 and shamefully low compared with the size of the population growth in the country because of the wrong policies in moving the economic system.”

And the favor of that “Iraq has lost years because of the lack of significant economic well-developed plan to promote economic growth in line with the capacity of the cash budget in 2010.”

Saleh pointed out that “No economic growth for 2010 to deserve mentioning.” He said. “Noting that” it must be to Aitakerr in the coming years if the government followed a strategy of financial institutions is good. “

And that “the advancement of economic reality in Iraq will be more freedom after his release from Chapter VII, which will allow him to integrate more international economic community.”

The central bank revealed yesterday that the budget for 2011 will raise economic growth to 10% of what it was.

The Iraqi Council of Ministers said in a statement, last Wednesday, he had approved a draft budget for 2011 a deficit of $ 12 billion will be covered by the amounts retained from the previous year’s budget and borrow internally and externally, between the expected income is estimated at 66.7 billion dollars, while expenditures amounted to 78.7 billion dollars, a shortfall of $ 12 billion.

The Iraqi Finance Ministry announced last month that the finalization of the draft budget for Iraq in 2011, and the new budget allocates a large share of investment, and to support the government’s development strategy that will continue for the next four years.

The initial budget for Iraq in 2011 about 86 billion and $ 400 million, an increase of up to 14 billion dollars in the last budget


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