CBI Expects 9% Growth, Reserves of $105-$110bn

By John Lee.

The Acting Central Bank Governor, Abdul-Basit Turki, has told Reuters that Iraq’s economy should grow 9 percent this year, as it increases its oil production.

He also predicted international currency reserves of between $105 billion and $110 billion by the end of this year.

Central Bank predictions for last year were for growth of around 10 percent, and reserves at the end of December of around $70 billion.

(Source: Reuters)

One Response to CBI Expects 9% Growth, Reserves of $105-$110bn

  1. Al-Kailouni January 15, 2013 at 10:45 am #

    I would not trust any comments/predictions coming from the Acting Govenor. There is a blatent conflict of interest as he his simultaneously the head of the country’s Supreme Audit Board.

    He came up with a report in september 2012 that was full of loopholes on the central bank currency auctions . To such an extent that he refused to comment it when asked to.

    see: http://www.csmonitor.com/World/Backchannels/2012/1101/Report-800-million-is-snuck-out-of-Iraq-each-week