Economists: Iraq is suffering from inflation and the policy of "central" led him to
He is interested in economic affairs of Iraq, said Tuesday that Iraq is suffering from inflation in its domestic market, certain that this inflation comes because of the lack of accurate statistics to the problems plaguing the economy in the country. The adviser said the Iraqi Central Bank The bank is working to preserve the rank of one decimal place in order to achieve economic stability.
Majid said the picture of the Kurdistan News Agency (Rn) that "until now does not have accurate census of the problems suffered by the Iraqi economy and, inter alia, inflation rates in Iraq." Noting that "there is a decrease in the rates of inflation to 3%, but the citizen feels another way, especially for items required for daily consumption by low-income and economically may be suited to this statistics with the rates issued. "
He explained that the picture of "the trend towards increasing prices and activate the new customs law will lead to an increased burden on the Iraqi citizen, given that the decision was not within a comprehensive package to develop the Iraqi economy to accelerate development."
He added that "there is a problem facing the decision is that it does not compete with the local production of imports and inflation exists and any State may have given up on inflation."
And that "no doubt that the increase in the factors causing the cost of production in the high inflation and tight monetary policy by the Central Bank led to the curb inflation to a large degree, but fiscal policy is moving towards increased consumption, whether public or private, Re-distribution of income would lead to rising prices and inflation large in the Iraqi economy. "
In turn, the appearance of the central bank adviser Saleh (Rn) that "Iraq is witnessing today after the annual inflation fell to control levels of liquidity and reduce inflationary expectations." Pointing at the same time said that "Iraq needs today imported from Turkey in Euro, for example."
And the appearance that "low inflation, monetary policy, the central bank is successful in gaining control of the levels of liquidity and reduce inflationary expectations." Noting that "Iraq is an important importer of Turkey and strong euro, which will cause the dollar to decline against the cheap and low prices of products entering Iraq."
He pointed out that "the signs are good for low inflation, which fell to the level of one decimal after it was tied." Adding that "the central bank works to keep the rank of one decimal place in order to achieve stability in the introduction to this development and this makes investors comfortable situation to the lack of price fluctuations in the exchange rate and the general level of prices."
The Iraqi Council of Representatives approved last year a law that would impose customs duties on imported goods does not exceed 20 percent of its value. And began the Iraqi Trade Ministry a few days ago to grant import licenses to companies and investors, including all goods and goods in a move aimed at reducing the phenomenon of dumping the commodity. And allowed the ministry to enter the goods at border crossing points accumulated, until the middle of February next, also allowed the entry of goods that importers do not have a formal import licenses. The Customs Authority will apply the law to increase tariffs in the sixth month of March next.
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