The inflation decreased influencing the dinar value

The CBI adviser, Mohammed Saleh announced that the dinars bank sales did not increase and expressed his concerns on the currency value.
CBI announced that the annual rate inflation decreased for the first time in Iraq by 3 percent. The month of February recorded a doubling of the rate inflation due to the rise of inflation for the Ataraly region.
The adviser said that the inflation decrease represented a success for the Iraqi monetary system and economy. Saleh added that the use of dollars in the import determined the growth of food and industrial materials by 40%.
In order to maintain the monetary stability, the Central Bank should operate promptly and comply with the red line. Saleh pointed out that the Iraqi general budget recorded a deficit of 17 trillion dinars; thus, only a higher price of the oil could produce a surplus in the Iraqi financial budget.
The Central Bank of Iraq is an independent bank able to maintain price stability and establish monetary policy by managing foreign resources and dinar exchange rate. CBI is also responsible for the establishment of a stable banking system which can generate an efficient financial sector.
Iraqi bankers invited the government to reestablish the investment funds in order to exploit the cash amount of the public banks and other agencies, leading to the improvement of the Iraqi economy. CBI affirmed that more than 70% of the amount was invested in the public sector. The banking expert, Mohammed al-Samarrai stressed that was necessary to reactivated investment funds and took advantage of the public sector improvement, which detained trillions of Iraqi dinars.
He explained that the establishment of mixed companies through industrial and agricultural projects was a real success and involved both the state power and the private sector. The investment realized between the state and the private sector could lead to the development of the domestic monetary by supporting foreign and local investors to secure and invest their money. The Central Bank could benefit from the loans granted for foreign investors, but there is also the possibility of loss.
The reactivation of investment funds and the joint of the state institutions and the private sector can reduce the unemployment.
The main task of the Central Bank is to regulate the banking sector, improve the debt system, the monetary policy and deal with the dinar revalue and exchange rate.

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