Investment Bank Deposits Are Up to $25 Billion: Experts

Iraqi Dinar 123 News:– A number of economic experts proposed the feasibility of investment bank deposits with estimated amount up to (25 billion U.S dollars) 30 trillion Iraqi dinar. This amount can be used to meet the financial crisis resulted by the downfall in global oil prices which reflected negative impact on Iraqi economy, and it will also be used to manage the Iraqi budget deficit. A famous financial expert and head of the Iraqi Institute of Economic Reform Kamal Al Basri said that bank deposits are estimated about 30 trillion Iraqi dinars and this amount can be utilize to overcome the budget deficit problem by selling the governmental bonds.

He further said that government should impose taxes fees for advancement of the current industries that don’t have more money to improve their production. It needs an immediate interference for their enhancement and to get benefits from the paybacks. He stressed the importance of implementing good governance and to take advantage by this experience for future in the form of increase in growth. Another famous economist Hassan Al Asadi also said that there is a must need to find alternatives for banks and major financial institutions for issuing loans to fight with the financial crisis in Iraq. He added that these loans and investments would serve the Iraqi citizens. The Iraqi government should develop a new financial and economic strategy in order to pull out Iraq from critical situation, because Iraq is mainly dependent on its oil exports.

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