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Baghdad

Rate of inflation is almost non-existent in Iraq, says Association of Banks

 Rate of inflation is almost non-existent in Iraq, says Association of Banks

The head of the Association of Iraqi banks Wadie Al-Handal

The head of the  Association of Iraqi banks Wadie Al-Handal
The head of the Association of Iraqi banks Wadie Al-Handal

 

(IraqiNews.com) Baghdad – The Association of Iraqi banks considered on Saturday, that the inflation rate in Iraq is almost non-existent, indicating that the statements are “unexplained” and causing panic and fear in the market.

The head of the Association Wadie Al-Handal said in a joint press conference with the Governor of the Central Bank Ali Alaq attended by IraqiNews.com, “The rate of inflation in Iraq amounting to 1.7%,” noting that “the inflation is almost non-existent.”

“Irresponsible and unexplained remarks cause panic and fear in the market,” Al-Handal added.

The Ministry of Planning announced in June 3, 2015 the decrease of inflation index for the month of May by 0.3%, while the annual inflation rose by 7.1%, confirming that the statistics did not include three Iraqi provinces because of the security situation witnessed in these provinces.

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