Central officially called "niche" banks support a $ 5 trillion dinars initiative

The Central Bank, on Saturday, the launch of an initiative to support the agricultural, industrial, real estate and housing fund sector banks with loans amounting to five trillion dinars, with the exception of the initiative "a good step" for the recovery of the economic situation and liquidity, confirmed they come to avoid foreign loans.

The governor of the Central Bank on the Keywords during a seminar held by the Committee on Economy and Investment parliamentary under the auspices of the Iraqi National Business Council to discuss the CBI program and Ministry of Finance to finance specialized sectoral banks held in the Ishtar Sheraton Hotel in central Baghdad and attended by "long-Presse", "The Bank has launched an important initiative through support industrial and agricultural real estate and housing fund sector banks with loans amounting to five trillion dinars. "

He added Keywords, said that "these sectors support this amount is a good step for the recovery of the economic situation and the liquidity of those banks and to ensure no increase in unemployment," stressing that "this initiative is to avoid loans Foreign ".

He pointed Keywords, that "the initiative you need to activate the special government measures quickly to start pumping money," expressing his hope that "do not take those actions a long time."
The World Bank in (July 9, 2015) has been approved, a project a new Iraq aimed at reconstruction and rehabilitation of infrastructure destroyed by conflict in the country and the restoration of services in the government-controlled areas, and among the assistance program of $ 350 million, confirmed that the program is part of a larger program will be implemented over five years in the provinces of Salaheddin and Diyala.

The Parliamentary Finance Committee confirmed, in the April 30, 2015, they are passed to the government borrowing to fill the budget deficit and meet the necessary requirements under the state of war with "terrorism", and as pointed out that Iraq will receive a value of three billion and $ 400 million of Fund loans IMF and the World Bank, revealed a tendency to privatize the stalled viewing of Astosmar.okan World Bank government projects revealed, in the April 29, 2015, about his quest finance development projects in the areas of restored Iraqi forces from militants, "Daash", returned to economic growth as an important part of the solution political problems "have plagued the region."
The estimated funding sources in Article III of the budget bill for 2015 of $ 6,168,040,000 dinars, this amount is used to cover the budget deficit and repay domestic and foreign loans and amortization of domestic debt payments, and amortization of Eurobonds, and turn off the debt of the Central Bank bonds.

complain Iraq weak financial revenues due to declining oil prices and increased expenses, which the military side came on her head, which made ​​the government resort to austerity as one of the solutions adopted to cope with the economic situation of the country that.

He expected the International Monetary Fund, in (March 21, 2015), the high proportion of the budget deficit in 2015 more than the proportion of 12% announced by the government, to "significantly higher levels", due to lower oil prices, and a weak possibility of Iraq's commitment to export 3.3 million barrels per day, and assume the budget, proposed the implementation of the reform measures strict include austere in investment projects, and a commitment to reduce expenses , and the revision of the maximum limits of central bank sales of the currency, referring to the overall growth contraction, and the prospect of rising inflation slightly the end of this year.

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