The flames of food prices spark inflation rates in Iraq

5-29-08

The flames of food prices spark inflation rates in Iraq

BAGHDAD: Iraqi Central Bank announced that the reason for the high inflation rates in Iraq last April due to the sudden rise in food prices globally, which hiked standard concurrent with the arrival of a barrel of oil above $ 135.

A statement by the Central Bank of rising inflation rate amounted to 16% over the year, compared with 11% last January.

He noted the Central Bank in his newspaper reported "life" of London that parts of it to foodstuffs constitute component in President inflation index basis, and more than two thirds of the seven components of the index of consumer price basis, adopted by the Central Bank as an indicator of inflation.

He added that despite the approaching Index annual inflation rate of interest of 17% at present, one point ahead, but the Central Bank of Iraq "will remain part of the prevailing interest rate, without lifting, using its own means of monetary policy enough to absorb external shock price Foodstuff against the Iraqi economy. "

The rise in the inflation index in Iraq coupled with the increase in the salaries of state employees as of next June to improve their living conditions.

The Iraqi Parliament approved the largest budget in state history, which amounts to twice what it was during the era of the late President Saddam Hussein, which were estimated at about 48 billion dollars, an increase of 18% compared to the budget in 2007, but many experts have confirmed that they had not Enough to move the crippling of the economy, and warned that the number of beggars and the unemployed.

And allocated the lion's share of the budget that benefited from the height standard for oil prices to the security sector, which received 8.85 billion versus 7.5 billion last year and then the education sector, which received 4.13 billion and then the health sector budget estimated at 1.92 billion dollars and electricity at about 1.4 billion aimed at improving infrastructure In a country suffering from power outages.

On a related International Monetary Fund expected to witness the Iraqi economy has grown considerably after the low levels recorded last year, driven primarily unexpected increase in oil production and improved security conditions.

The IMF expects a great leap in GDP growth to exceed the Iraqi barrier of 7% and possibly more in 2008 and 2009 compared with only 1.3% in 2007 from his Bahtdam sectarian violence that threatened the country's outbreak of civil war.

The recent economic study revealed that the cost of reconstructing Iraq in 2010 to reach about 187 billion dollars, and study estimated the value of domestic financing could be 42%, which means that the share of foreign investment, loans and grants is 58%.

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.moheet.com/show_news.aspx%3Fnid%3D129735%26pg%3D1&sa=X&oi=translate&resnum=7&ct=result&prev=/search%3Fq%3D%2B%2522%25D8%25A7%25D9%2584%25D8%25A8%25D9%2586%25D9%2583%2B%25D8%25A7%25D9%2584%25D9%2585%25D8%25B1%25D9%2583%25D8%25B2%25D9%258A%2B%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%25D9%258A%2522%26hl%3Den%26lr%3D%26as_qdr%3Dd

Bambaboo