CBI to Finance Budget With a Six Trillion Dinars Loan

CBI to Finance Budget With a Six Trillion Dinars Loan

Iraqi Dinar 123 News:– The Central Bank of Iraq has decided to finance the Iraqi budget 2015 by granting a loan of six trillion dinars using the 50 percent of the commercial banks deposited reserves and to repurchase the treasury bonds from the market.

According to an authentic statement, at the first stage, the Central Bank needs to buy five trillion dinars and then it would run 50 percent reserves of the commercial banks and buy treasury bonds from the local market. These major steps would not affect your 70 billion reserves to support financially for the Iraqi budget and it would be helpful in reducing the budget deficit. It would also allow them to issue grants for real estate and housing, also for farmers and industrialists to support economic development and to create job opportunities.

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