Al-Alaq calls for fixing price of a barrel of oil in the budget at $40

Al-Alaq calls for fixing the price of a barrel of oil in the budget at $40

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Ali Al-Alaq, the governor of the Central Bank, revealed the imminent establishment of national companies and banks specialized in electronic payment and financing small projects, while calling for fixing the price of a barrel of oil in the budget at $40. Al -Alaq said during his participation in the "Miri 2024" forum held in Erbil, followed by "Al-Mutala'a" agency, that "in 2003, the Central Bank's reserves were $900 million, and Qusay Saddam Hussein seized them on the eve of the fall of the regime, and they were loaded onto a truck, so Iraq seemed to have reserves of nothing." He added, "At that time, the size of the money supply was about 4 trillion dinars, and today we have more than 100 trillion dinars in circulation (issued currency), not all of the money supply, which is wider than that, and the reserve is more than 100 billion dollars."