Shocking number.. How much is the percentage of 'idle money' in Iraq?
831 Economie 2022/07/15 11:39 Baghdad today -
Diyala Today, Friday, the head of the Bayaraq Al-Khair movement, Muhammad Al-Khalidi, revealed that 70 percent of Iraq's money is hoarded (idle). Al-Khalidi said to (Baghdad Today), "The most prominent internal problems in Iraq are economic, as they represent the pressing factor in light of the presence of nearly 13 million people below the poverty line." He added, "70% of the money in Iraq is hoarded in homes, that is, idle, and far from the banks that, if invested, would move economic activities, explaining, that "leaving this money away from the banks is a strategic mistake that needs solutions." He pointed out, "Any government that is formed without an upcoming economic rescue plan will fall within a few months regardless of its political support mechanisms, stressing the need to entrust the task of prime minister to an economic figure who advances the economic reality in the country." And the Iraqi Ministry of Planning expected, earlier, that the poverty rate in the country would rise to 25 percent. The ministry's spokesman, Abdul-Zahra Al-Hindawi, said in press statements, "The ministry will soon start recording a new poverty survey in Iraq, and determine its indicators in light of the current conditions, whether they are related to Corona or the product of global food conditions ." He added, "The last statistic of poverty rates in Iraq in 2019 before the pandemic recorded approximately 22.5 percent," noting that "after the pandemic, and due to economic and health conditions, the percentage increased, and our expectations now are that it may reach 25 percent."