Mudar Al-Karawi, a member of the Parliamentary Finance Committee, stated on Wednesday the government’s goal to cut the amount of liquidity circulating in Iraq by 10% by 2024.
According to Al-Karawi, in an interview with Al- “The Sudanese government has begun adopting a series of economic solutions aimed at electronic transition in paying wages and services to government institutions, including gas stations, via modern cards to reduce money circulation mechanisms.”
He went on to say, “Beginning the electronic transition in the circulation of funds in state institutions has several positives that lie in economic advantages in terms of reducing cash liquidity and transferring it to the electronic nature, which will be more controlled, not to mention its contribution to strengthening the financial balances in banks and banks.”
He went on to say that “the government’s programs will reduce the liquidity circulating among citizens by at least 10% during 2024 if they are implemented in practice.”
The Ministry of Oil has approved programs for paying gasoline refill expenses with electronic cards, a first in Iraq.