The Central Bank of Iraq (CBI) has announced positive financial indicators for Q3 2024, highlighting the success of its monetary policy during the year:
Banking Sector Growth (Q3 2024 vs. Q3 2023)
Total Deposits in Banks
- Growth: 4.2%
- Q3 2024 Value: 127.6 trillion dinars.
- Q3 2023 Value: 122.4 trillion dinars.
Cash Credit by Public Banks
- Growth: 11.6%
- Q3 2024 Value: 72.7 trillion dinars.
- Q3 2023 Value: 65.1 trillion dinars.
Private Banks’ Performance
- Deposits:
- Growth: 14%
- Q3 2024 Value: 18.7 trillion dinars.
- Q3 2023 Value: 16.4 trillion dinars.
- Cash Credit:
- Growth: 15.1%
- Q3 2024 Value: 12.2 trillion dinars.
- Q3 2023 Value: 10.6 trillion dinars.
Private Sector Activity
- Deposits in Banks (Private Sector):
- Growth: 3%
- Q3 2024 Value: 56.1 trillion dinars.
- Q3 2023 Value: 54.4 trillion dinars.
- Cash Credit to Private Sector:
- Growth: 8.6%
- Q3 2024 Value: 42.8 trillion dinars.
- Q3 2023 Value: 39.4 trillion dinars.
Monetary Indicators
- Narrow Money Supply:
- Growth: 4.1%
- Q3 2024 Value: 158.6 trillion dinars.
- Q3 2023 Value: 152.4 trillion dinars.
- Broad Money Supply:
- Growth: 3.3%
- Q3 2024 Value: 179.8 trillion dinars.
- Q3 2023 Value: 173.9 trillion dinars.
Gold Reserves
- Growth: 57%
- Q3 2024 Value: 16.8 trillion dinars.
- Q3 2023 Value: 10.7 trillion dinars.
Inflation Rates (August & September 2024)
- August 2024: 3.7%.
- September 2024: 3.1%.
- Significance: Among the lowest annual inflation rates in the region, indicating price stability and successful monetary policy.
(Source: CBI)
