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04-26-2010, 09:38 AM
Advisor to the Central Bank: preparing the general budget in accordance with financial policy is a failure in economic growth

Baghdad (news) .. adviser said the Iraqi Central Bank that, if the monetary policy switch some of their tools Kamzad currency should be oriented towards the expansion of local production base. Appearance, "said Dr. Mohammad Saleh (of the Agency by news) said on Monday:" If Budget through fiscal policy has failed to achieve a strong base for economic growth and have tended too much toward the current expenditure of birth of inflation due to weak national production base, such an approach intersects with the fundamentals.

He added that the monetary policy goals to achieve stability by addressing spending and generate display Moawad the lack of local supply through the financing of the import trade and make the presentation consistent with the demand, otherwise the restriction of an auction of foreign currency in front of serious flaws in the diversification of domestic supply.

The benefit of the failures of development policy will lead to the generation of a disaster in the economy is beating the elements and the dimensions of stability and distortion of the monetary policy objectives in the biggest public budget in the history of Iraq, amounting to 83 trillion Iraqi dinars.

Saleh said if I want to change the philosophy of monetary policy in the implementation of some of their tools Kamzad foreign currency, it should be starting work on the switch and make fiscal policy-generating development and expansion of supply and local production base.

He emphasized to maximize efficiency and reduce the actual levels of unemployment which are still more than 18% of the total labor force. / Finished / (2. N. R) ..

تاريخ المقال 26 April 2010 04:26 AM Date of article 26 April 2010 04:26 AM

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