Claims to put an end to inflation in Iraq

26/04/2011 00:07

Baghdad, 25 April (Rn) – A count of economists and specialists in the follow-up file of inflation, on Monday, the Iraqi government the need to address the economic development challenge of high altitude.

The Ministry of Federal Planning recently revealed that the rate of inflation in the country for the month of March increased by 0.7% for the month of February last which reached 0.5%.

The economist said Kareem Adnan, who is teaching in the Higher Institute of Economics in Baghdad for Kurdistan News Agency (Rn) “The continuing economic rise of inflation requires that the Iraqi government develop a strategic plan which prevent the continuation of inflation in the country.”

He added that “the economic reality in Iraq will remain confused, if the Iraqi government did not put an end to the flow of goods and products that increase the chances of inflation.”

He noted that “the process of economic inflation does not fall on the government, but are supposed to participate in reduced international economic organizations and local communities involved in the system of economic work.”

In turn, “said Saeb Hatem head of the Center,” Sino, “a center of economic (German – Iraq) is interested in supporting the financial investment in Iraq’s (Rn)” The high demand for the commodity offered at the cause of high ongoing inflation base in the country, which causes confusing political Iraqi market. “

He added that “there are problems in the economic structure of Iraq supposed to be solved through the launch of government decisions limiting the spread of goods and commodities are random, even if they were local.”

He pointed out that “the continuing high inflation, or stay on the line graph of one level indicates the existence of problems and constraints related to the nature of the Iraqi economy if he still combines a market economy and socialist economy.”

For his part, said an economist and president of the Association of the local economy Laith Hazem Ali’s (Rn) that “Iraq has no clear policy in the development of its economy and raise the purchasing power and the balance between inflation and the economic gap despite attempts simple by the Ministry of Finance and Central Bank of Iraq.”

He added that “reducing inflation not only through the presence of a map by government-sponsored financial institutions related to the balance of the launch of the currency with a commodity offered in the market.”http://www.blogger.com/post-create.g?blogID=3717299081070329237

He said “One of the important reasons for the continuing rise in each month of poor coordination between the financial and administrative government departments and the private sector over the past years which has caused major problems for the reality of the economy.”

Known as inflation that the surge in the overall level of prices and rising incomes in cash or a component of cash income such as wages or profits as well as high costs and excessive in the creation of cash balances. Fear a number of economists from the continuing high rates of inflation in the country in the absence of mechanisms to reduce height of the government institutions involved in the management of the economy in the country.

LINK