Dropping zeros reflects the strength and evolution of the economy, says Economic Committee Member

Posted by on Dec 05, 2013 | Leave a Comment

A member of the parliamentary Economic Committee Abdul-Hussein Abtan said Tuesday that the “lifting of zeros from the Iraqi currency will not affect the economy, but it will reflect the evolution of the economy and the ability of Iraq cash.

He Abtan told (the integrity of electronic) that “confirms the lifting of zeros clearer picture of the strength of the Iraqi economy and highlights the power of cash in the country.”

He explained that “the subject is very important and will improve the reality of cash,” noting that “we have 80 billion dollars in the central bank and not a true survival of the Iraqi currency bloc this large.”

He pointed out that “many countries have tended to support this procedure to the economy such as Turkey and Lebanon, calling for coordination with the government for the implementation of this strategic project.

The Iraqi Central Bank has announced that it will begin early next year to raise zeros from the Iraqi currency.

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