Doctor stresses the need to accelerate the procedure of regulating the monetary policy of the Central Bank
BAGHDAD (Reuters) – The absence of strategic planning in the central bank’s monetary policy has caused a deterioration in investment and economic development in recent years, a member of the Iraqi parliament, Mohammad Iqbal al-Sidli, said on Sunday.
Iqbal said in a statement issued by his press office that “the weak coordination and harmony between macroeconomic policies and unilateralism and the infiltration of financial, administrative and economic corruption in most government institutions and the lack of control over the outlets selling the currency and preventing smuggling outside the border is the latest state of economic stagnation” , Calling on the government to “re-review the plans of the Central Bank in the sale of cash currency and in line with the actual need of the Iraqi market in light of indicators of daily import balance of goods and raw materials.”
A member of the parliamentary strategic planning committee pointed out that “the tax volume adopted in the general budget revenue is at a frightening rate compared to the hundreds of millions that are pumped daily from the window of direct selling,” leading to “go most of the currency of the pockets of monopolists of the beneficiaries and not to cover the real market need.”
The pharmacist stressed on the need to accelerate the procedures of regulating the central bank’s monetary policy to secure an umbrella of financial and monetary stability and launch investment and resume the development and reconstruction efforts that were included in the federal budget. He pointed out that the file will be presented to the committee of monitoring the government program in the coming days and that the committee will take the necessary measures to prevent This dangerous transgression. ”