A famous economic expert Khalil Al-Najafi said in a press interview that continuous decline in the state revenues, lower oil prices in the international oil market and deterioration in the Iraqi productive sectors would increase the deficit of the annual Iraqi budget 2016.
He said that Iraqi federal government is looking to find solutions in order to pull out the country from the critical financial crisis and overcome the major financial issues such as payment of employee’s salaries. Our authentic source informed that an official at the Iraqi Central Bank said that Iraqi government secretly withdraws at least 10 billion U.S dollars during the last period from the reserves at the Central Bank of Iraq. So, CBI sold a large amount of U.S dollars in its daily sales auction of foreign currency.
Another economic expert Abdul Hassan Al-Shammari also said that Iraqi government pulled out at least half of the CBI reserves during the past one year. He added that it would reduce the size of monetary reserves of hard currency and it is indicating the economic devastation in the country. He said that all the indicators are showing low level in the prices of oil for the current year, so the decrease in the state revenue will be the same. It would also reflect negative impact on the Iraqi dinar currency and most of the financial experts predicted that Iraq dinar will move to a significant decrease against the U.S dollars in these critical financial and economic situation.
Most of the Iraqi dinar investors have decided to Sell Iraqi Dinar due to unstable financial, economic and political situation in the country. But, some dinar gurus also predicted that this move is indicating an expected and positive sign for Iraqi Dinar Revaluation. Dinar Gurus explained that this situation will not remain for long duration and Iraqi Dinar Investment will be a perfect choice, because Iraqi Dinar Exchange Rate will boost up after the stability in the Iraqi political and financial condition. So, Buy Iraqi Dinar and secure your investment and get handsome profit in the near future.