Date: 2012-08-24 11: 23: 22 Friday
Baghdad (News) … Salem Al-Bayati warned economist might increase when inflation index increased salaries for staff, retirees and financial loans and advances continued to increase rateb percent of money supply in the market in the absence of a local product.
He said Al-Bayati (News Agency news): the annual inflation index in Iraq due to the lack of a clear economic policy in the country and the process of pumping funds by the Government to the citizens either salary or loans are random ways without a feasibility study which lead to increase the money supply in the market.
He added: the plans by the Federal Government to increase the purchasing power of citizens to serve as “wizards prosthesis” by increasing salaries and granting financial advances which addresses a specific area of the situation to cover purchasing power, but in return will increase the rate of inflation in the country.
Al-Bayati: called to the need to develop a feasibility study before coming to implement a plan to not affect on the national economy.