New Iraqi Bonds will be issued from 14th August for Contractors: CBI

On Thursday, the Iraqi Central Bank announced the start for releasing the bonds for qualified contractors.

The Central Bank of Iraq has issued a press statement that CBI has started issuance of bonds in order to pay dues to eligible contractors. The statement further added that the names of those contractors will be published on the official website www.cbi.iq of Iraqi Central Bank. These bonds will be issued from the 14th August 2016. The CBI called the eligible contractors to contact the Bank in order to review and receive their bonds. It is important that the Iraqi Ministry of Finance launched bonds on 14th June 2016 in order to pay dues to contractors by providing bonds. The 40 percent of contractor’s entire due amount will be paid by giving these bonds.

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The budget deficit of 113 billion U.S dollars has been recorded in the month of July 2016 for the U.S federal government. It is approximately 24 percent down compare to the same month in the last year. On Wednesday, the U.S Treasury Department issued a statement that budget deficit was recorded at 149 billion U.S dollars in the month of July 2015 for the U.S government. The financial year in the United States starts from the month of October. The U.S Treasury Department also said the total revenues until last month were recorded at 210 billion U.S dollars with a significant decrease of seven percent by comparing with the month of July 2015. Point to be noted that total expenses were decreased at 14 percent at 323 billion U.S dollars.

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