As we heard the rumors about the Iraqi dinar is going to be upraise again! This is going to be the reality gradually with the developments in Iraq and Iraqi economy. AS USA has announced for with drawn its Armed forces completely till 2012, time is becoming reality about all speculations made by the many people, investors from all over the world. If you review that, you will find that USA has made lot of aid to the Iraq for developments work. And from last two years near about 3.7 billion$ were approved by the executive board for development work and for the construction of infrastructure. This is the sign of success for the economy of Iraq. This program gave lot of assistance to the Iraqi economy for falling of oil prices in 2009 worldwide.
As you know that new government was formed in 2010, in those elections, no party obtained the obvious ranking and Nouri Al-Maliki hold the control of government as a prime minister. He joined all the parties to form the supreme council to pay focus on strategic issues and one of the main factors in the development of Iraq.
Security conditions in Iraq is continually improving day by day, this has attracted lots of foreign investors to come in Iraq to invest their money in Iraq and Iraqi currency Iraqi dinar. With the developments in Iraqi security, we can say that Iraq is regaining its actual position. Revaluation is going to be happened in Iraq.
In regard to develop the Iraqi economy, Microeconomic stability was established in 2010 to overcome the unrealistic and uncertain local and external environment. Exchange rate has remained stable and inflation continued to be in low single digits. Central bank Iraq kept the interest rate @ 6% after lowering it from 7% in 2010. Foreign exchange sold by the CBI remained at 3 billion $ and CBIís international reserves rose to more than 50 billion$. There have occurred very many improvements in the oil export projections in 2010. Oil revenues were increased in 2010 at 50 billion$ and in 2009 it was 48 billion dollar.
Budget deficit has become very low beyond the expectations of Iraqi government. So 2010 has proved to be a very good year for the economy of Iraq and there increased the rate of foreign investment in Iraq.
Iraqi government is now paying very attention in the development of Iraq by means of architecture and construction. As the USA estimated that near about 19 billion dollars are required for the reconstruction of Iraq and rehabilitation of life in Iraq. Iraqi government has been playing very important role in doing good for developing the lifestyle of Iraqi people. So Iraq is going to be entirely changed in this world and will come with the new strategy and new goals of success. Iraqi is now going to build history again. It is the right time to make contribution in the Iraqi investment because Iraq and its economy are going to be the most successful. So donít late, it may not become