Economist calls on CBI to adopt oil and gas instead of gold and USD currency reserves

Posted by on Oct 28, 2013 | Leave a Comment

Economist calls for the adoption of the oil and gas reserve of the Central Bank economist

May 11, 2013, 1:43 pm
Economic expert called on behalf of Jamil Antoine, on Saturday, the central bank to adopt oil and gas Kkhozan the reserves instead of gold and the dollar, stressing that the value of oil exports during the year twice all the gold reserves in the country.

Said Antoine told him the reporter, “news agency Iraqis,” that: “reserves the central bank alone is not enough to maintain the stability of the Iraqi economy, where you must rely on reserve economist is the stock of oil and gas, because the reserves the central bank money and gold is not equal to the export of oil to one year . “

Noting that: “Reserve the main possible to protect Iraq’s economy is the stock of oil and gas in the ground,” and explained that “the statistics of the Ministry of Oil indicate that the oil reserves reached about 150 billion barrels and 19 billion m3 of gas, up to the month of February of the year Current. “

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