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Showing results for tags 'issuance of new cash'.
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Abadi adviser recommends increased monetary issuance to support government spending Sunday January 17 2016 13:12 Alsumaria News / Baghdad Recommended adviser to Prime Minister Abdul Hussein Al-Anbuge, Sunday, an increase of cash to support the release of government spending, as called for the need to move away from external borrowing, he noted that the state is able to cover the salaries of employees during the current year. He said Anbuge in the 10-11 program, which aired Alsumaria "The government has several options to diversify private sources with low oil prices of them," adding that "direct debit from the central bank, which currently stands at $ 58 billion reserve is not preferred although it covers twice the money supply. " Anbuge added that "the government can increase the issuance of new cash through the Central Bank", noting that "cash will be the best version of the withdrawal of the reserve where it would be possible that this version is used to support government spending." He called Anbuge government "not to seek to borrow outside, especially considering that the borrowing will be for consumption purposes purely such as salaries and the purchase of weapons, a non-profitable, while should be directed this borrowing for investment projects are utilized to reduce dependence on imported fill the local need." Anbuge stressed that "the state is able to cover the salaries of employees during the current year, but the effects of the drop in oil prices will have implications for development and GDP rates." Iraqi state is suffering at the present time of great challenges as a result of the drop in oil prices to below $ 30 per barrel while trying to staff and investment projects salaries believes they are trying to also provide sufficient arms to fight al Daash, which took over some land.
