Central Bank "continued" does not have the autonomy

by **Ponee** Sun Jun 28, 2015 11:03 am

Said economic expert, Dr. Mahmoud Snubs, Sunday, that the central bank is facing great pressure from the government and the terms of the budget, pointing out that those restrictions made him a follower and its restricted largely in his work.

He said Snubs told / information /, "The state budget has been prepared in a bad way in terms of quantities of oil exported and the price per barrel and thus formed down the Iraqi economy after the fall in oil prices," pointing out that "The monetary policy, which fought the central bank suffered a wave of great pressure since the eighth month in the past year (the date falling oil prices) as a result of government's insistence on spending more than their capacity with twice the supply of liquidity. "

He added that "the central bank and no matter how tried to find the correct path without fiscal expenditures solutions will not reach a realistic solutions saving", adding that "the Bank It was strictly with previous public budgets, but the big flexibility displayed by toward this budget that made him a follower her and does not have independence. "

He added that "Article fifty in the budget which sets sale Auction currencies in the central five and seventy million dollars a day just has befuddled the internal situation of the Iraqi market." .

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