Iraqi Dinar 123

Iraq and Kurdistan could not create consensus between each other on the oil policy and as a result annual budget of Iraq is pending approval. The value of US dollar decreased in the last two days against Iraqi dinar and it is all due to positive policies of central bank of Iraq.

Now the most important challenge for the Iraq is to look into the matter of Macro Economic Stability, and for this planned expenditures needs to be cut down, while preserving the key social needs and spending. Iraq needs to manage its large oil reserves, rising oil revenues by building up the fiscal, financial and external buffers.

The role of the Iraq government is increasing or decreasing in the economy of Iraq is not clear and has two different opinions. Some economists believe that the role of central bank s increasing in the economy of Iraq and some believe it is not. Being independent body, the central bank of Iraq is responsible for all the economic policies of Iraq.

The international experts believe that Iraq has ability to increase the production of oil in the international market and it is going to regain its previous position in the oil industry of the world if it continued with this pace. Five years ago, electricity in Iraq was not available in Iraq. Only 6000 mega watt electricity was available to fulfill the country needs.

Central bank of Iraq is trying to build its trust among foreign companies, foreign investors and local traders for the successful financial operations. Now central bank of Iraq is responsible for the failure of economy bank in the financial operations. Central bank of Iraq formed a committee of three members to complete the process of Trusteeship and report it in the next few days.

Central bank opened a new office in Dubai to attract different foreign banks to find and invest in the business opportunities in the country. Furthermore, it also attracted many foreign banks to open new branches in the country. This is the results of the efforts made by central bank of Iraq that many of the reputed international banks are operating in the Baghdad and many other big cities of Iraq.

It will be a clear sign of secede from Iraq that will also destroy the political environment of the country and will impact the economy of Iraq adversely. The decision is pending approval in the parliament of Kurdistan and the voting is required for this change to be happened. The economy of Iraq, especially the economy of Kurdistan will have to bear a huge loss, if the things remained in the practice for a longer period of time.

Stryker the famous dinar expert is of the view that investors need to see the political situation of Iraq. The political environment will decide whether revaluation of dinar is going to happen or not. If the political situation of Iraq stabilized in next couple of days, the things will be in the favor of revaluation of Iraqi dinar.

In the first phase, Japanese company will have to construct three bridges by the July next year and the other development projects will be given to the company after the completion of this project. Iraq infrastructure and housing industry will monitor the whole contract and the new projects will be assigned according to the suggestions of this ministry.

Iraq is one of the fastest growing nations of the world according to the recent World Bank report. The report says that the rate of economic development of Iraq is better than all the other countries of the Middle East and also in the Arab Countries. The expected growth rate of Iraq is also better than all other countries in the region according to World report.

The representatives of the house is approving budget 2014 in the next few days even without the participation of Kurdistan. One of the noted Member of Parliament said that parliament is approving budget 2014 so that it may not be a black spot in the parliament history of Iraq. Few days ago, parliament of Iraq decided to postpone annual; budget 2014 to 2015 when Kurdistan boycotted the budget meetings.

The expected jobs in the oil industry will increase by 340,000 by the end of 20130. This will be a major success for Iraq and its economy. We know that oil industry of Iraq is the backbone of the country that enhances the revenue of the country and also the major source of employment opportunities in the country.

The elections of 2014 are over and according to initial authentic sources; the Noor Al Maliki has won elections 2014 with the big lead. Everyone now is looking for new strategies of the country, especially about the strong point of view for revaluation of Iraqi dinar.

The oil and energy ministry of Turkey announced that the Kurdistan oil stock at Turkey port has reached 2.8 million barrels with the export of 100,000 barrels per day. It shows that the performance of oil industry is so good in Kurdistan. Kurdistan with the cooperation of Iraq is exporting crude oil in the international market via Turkey.

Mnt Goat thinks that revaluation of Iraqi dinar can be happened at any stage before August. All the things are in the favor of revaluation in the following two months. Iraq new government will be formed by 15th July as expected most of the people in Iraq. Revaluation can only happen when the new Iraq government formed in the country.

The chair man of the commission on human rights, Jubouri warned that the continuous constitutional crisis will destroy the budget of Iraq and also economy of Iraq. The current year budget is facing severe constitutional crisis that need to be checked not only for today but also for future. Unapproved budget is the major cause of number of crises in the country.

Central bank of Iraq is always busy in the betterment of the banking sector of Iraq. Every day the new positive things are seen in the central bank for the envelopment of banking sector and also the economy of Iraq. Central bank of Iraq took economy bank of Iraq in its guardianship for the investment point of view.

Iraq is allowed to export its products in the European markets after this membership that was ban before. The economy of Iraq will definitely boost up after the membership because local and foreign investors will invest in the country more than ever. The oil ex[port will reach 7 million barrels per day by 2016 instead of 2017, the target set by Iraq.

The general budget of Iraq is always declared in the month of October every year. Unfortunately the budget is declared in Iraq often late in the country that caused many of the issues in the country. The unstable political situation of Iraq was always a big hurdle for approval of the budget. The conflict of Iraq and Kurdistan is the major cause of the delay of the Iraq general budget every year.

A draft prepared by ministry of oil and natural resources of Kurdistan regional government for the distribution of oil revenue among people of Kurdistan. There are many of suggestions are given in this regard for the distribution of resources but important one was to keep the share of new born Kurdish in the bank account of every citizen.