CBI: 20 trillion dinars to support the improvement of grades

[Stillw8n]

CBI: 20 trillion dinars to support the improvement of grades and salaries of employees and retirees
Ali Abdullah – 09/10/2011 M – 2:20 PM | Hits: 191

Iraqi Central Bank revealed that two-thirds of the increase is expected to occur on the budget next year, will be allocated to increase the salaries of employees and retirees as well as increase the number of grades,

As disclosed that the International Monetary Fund will support this budget, a soft loan estimated seven billion dollars.

The Deputy Governor of the Central Bank of the appearance of Mohammed in a press statement that the ceiling amount of the budget year 2012 of about 130 trillion dinars, subject to increase or decrease according to the decisions of the Council of Ministers and the Parliament, noting that there is an increase estimated at 30 trillion dinars for the budget year, which reached 97 trillion JD, indicating that two-thirds of this increase will be to support and improve the grades as well as increased salaries and pensions.

He reported the benefit that Iraq had signed a loan agreement backing with the International Monetary Fund during the month of February of the year 2010 include the provision of support to him to raise the balance of payments and improve its economic situation as well as the reform of its financial system, pointing out that the fund made ​​in the light of the present Convention a soft loan to Iraq, worth close to seven billion dollars in an interest rate not to exceed one percent to pay within five years.

He noted that the bank granted the government earlier this year, $ 1.5 billion of that loan to support the budget year 2011, while the remaining amount will be delivered during the next year to add to the budget and support aspects of the investment.

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