The Central Bank of Iraq revealed that the volume of foreign reserves increased in 2023 from 106.7 to 112.8 billion dollars. In addition, the volume of deposits in the banking sector increased to $ 99.8 billion, while continuing the policy of monetary tightening.
According to the central bank, inflation rates fell from 7.5 percent at the beginning of last year to 4 percent by the end of 2023. Last year also witnessed a clear growth in most monetary changes, including an increase in the volume of deposits in the banking sector from 129 trillion dinars in 2022 to 131 trillion in 2023. As well as the increase in private sector deposits in the banking system from 54 trillion dinars to 55.5 trillion. In addition, the volume of credit in the banking sector increased from 60 trillion to 69 trillion. In addition to the increase in the volume of foreign reserves from 140 to 148 trillion dinars.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
