Economic Commission: Appropriate time to Delete zeros from the currency, especially after CH 7

Posted: July 6, 2013 in Iraqi Dinar/Politics
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Economic Commission: Deleting zeros from the currency and restructuring is necessary to support the country’s economic identity,especially after CH 7

Saturday, 06 July 2013 17: 15 | | |

{Baghdad: Euphrates news} the parliamentary Economic Committee pointed out that the deletion of zeros from the currency and restructuring is necessary to support the country’s economic identity, especially after the end of Chapter VII.

Committee members said mehma Khalil and Abdul Hussein abtan told a press conference in the Parliament building attended by correspondent {forat news} we are “on the parliamentary Economic Committee feel that the time is appropriate to start deleting zeros from the currency and restructured to support the country’s economic identity and for the benefit of the people.”

Khalil said that “after Iraq from Chapter VII, there are stations and many promising and substantial benefits to the country’s economy to support economic identity, Iraqi dinar, this case is purely economic objective of maintaining currency.”

Khalil called “Central Bank of Iraq to start deleting zeros of the Iraqi currency and restructured, adding that the project is an old Central Bank has demanded that the Government should wait until the appropriate time and today we see that the time has come to start this project.”

“As there is a clear constitutional provision provides for the issuance of coins and currency for economic purpose and benefit of the people, and today the Commission considers that the time is appropriate, given that there are promising the Iraqi economy to support economic identity, Iraqi dinar, the currency did not know her and promising future quotas.”

He said that “in light of the country’s great potential and promising economic stations, we hope to be the next financial budgets.”

The parliamentary Economic Committee member Khalil mehma “current currency large bloated latlik of the country and the people a strong desire to keep the Iraqi dinar to the dollar and other currencies compete.”

Member of the parliamentary Economic Committee on citizen Abdul Hussein abtan block has indicated that “the Central Bank said the reserves reached $ 76 billion and have Iraqi dinar befitting the country and these deposits and payments it is delete zeros and structuring currency has become an urgent necessity.”

“It is not reasonable to have Iraq reserve has reached $ 76 billion, and we are still dealing with 1,300 dinars to the dollar, then what is the benefit of these stocks and funds if not reflected positively on our citizens, where the unemployment rate is 7% and over 20% and the edge of the poverty line when more than 30%.

Abtan said “we believe that the Iraqi dinar must improve against the dollar as it is not true that the reserve of the country today has reached $ 76 billion Iraqi dinar at 1280 for aldollar”.

“The improvement in the status of the Iraqi dinar is reflected on the lives of citizens and the purchasing power and everything is in the country of goods is imported, so when the improved purchasing power will be reflected positively on his life and that’s what we expect from the Central Bank of Iraq”.

The “multiple revenue growth in the country is modest and simple compared to existing privileges and the evolution of the Iraqi economy depends on vision and management economic profile better than the current situation.”

He is a member of the parliamentary Economic Committee, Abdul Hussein abtan said that “Turkey and Lebanon were zeros from their currencies, so how about Iraq that owns this alahitati great argument was chapter VII and now has gone and removed, why keep the zeros”.

Abtan concluded that “an increase in the Iraqi dinar against the dollar is very vital to the citizen, which is not enough to have deposits of billions at the Central Bank against poverty and unemployment, weak purchasing power.”

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