Central Bank: Non-oil deficit more than 80% and threatens the state’s financial situation, 21 DEC

 Central Bank: Non-oil deficit more than 80% and threatens the state’s financial situation

Economy News-Baghdad

The Governor of the Central Bank, Ali Al-Alaq, announced on Wednesday that the non-oil deficit in the state’s resources is more than 80%, considering it a number that “threatens” the financial situation of the state, while noting that the employment of information technology in state institutions has become necessary.

Al-Alaq said in a speech during the conference of the Ministry of Finance within the Financial and Accounting Training Center, “Followed by “Economy News”, that “the fourth revolution of the Davos conference depends on the individual and the group, and to be close to reality what we are, no doubt we are far from the fourth revolution and we are on the ep of the third revolution.”

Al-Alaq added, “We are still seeking the way in digital wealth and in all fields, and we are still in the framework of simple digitization and drawing up steps and procedures is very necessary.”

Al-Alaq continued, “Puring state institutions of manifestations of corruption depends on digital technology by increasing electronic connectivity to reduce institutional confusion.”
Al-Alaq pointed out that “the employment of information technology in state institutions has become necessary,” noting that “the cancel of the Ministry of Science and Technology was a measure that contradicts the possibility and development of the technological side, which is an incorrect procedure.”
The governor of the central bank stressed that “the non-oil deficit number is more than 80% and it threatens the financial situation of the state,” noting that “the government cannot redistribute income within the existing instruments.”
Al-Alaq pointed out that “in the framework of stimulating electronic payment, the Central Bank of Iraq is the most benefiting from modern technology,” pointing out that “despite the availability of all means in the electronic payment mechanism, we are facing complementary environmental conditions, including increased demand for the dollar.”

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