By NNN-KUNA
Baghdad : Inflation and unemployment rates in Iraq have subsided recently due to procedures taken by the government, announced Iraqi Finance Minister Bayan Jabr Al-Zubaidi.
He told reporters Thursday that the reduction in unemployment rate could be attributed to the investment sector contribution to the government’s budget, adding that the rate went down from 70 to 20 per cent.
On the reduction of inflation rate, the Iraqi minister indicated that the Finance Ministry’s policy to increase bank interest rates as well as boosting the rates of exchange for the Iraqi dinar over the US dollar led to this outcome.
The inflation rate went down from 66 to 20 per cent according to the Ministry of Planning while the Iraqi Central Bank affirmed that rates went down further more, reaching 16 per cent, Al-Zubaidi added.