Traders transferred their money to Jordan at an accelerated pace and waves of violence reduced econo

Traders transferred their money to Jordan at an accelerated pace and waves of violence reduced economic activity by half



Baghdad / Range 07/30/13

Drawing an Iraqi investor grim picture of the effects left by the waves of violence worse, on the overall economic activity in Iraq, and the transfer of that knowledge transferred their capital abroad at an accelerated pace in anticipation of developments, and many of the large projects presented for comment pending the outcome of the elections scheduled for early next year.

To that, the economists and specialists Iraqis, that the acts of violence and political wrangling continued in the country are "environmentally repulsive" for domestic investment and foreign alike, while Benoit that the orientation of consumer growing in the country under the direction of internal and external forces, and "the greed of parasites" from the merchants, led to a monopoly and a significant rise in prices internally despite the decline globally.

Jamal al-Tamimi said that invests in local banks and a number of construction projects, big business and ambitious "almost stopped, there is no longer liquidity among traders because they quickly take them out of Iraq, and especially to Jordan." It is noted that this affects even on small projects and "commonly unemployment and cascading losses throughout the private sector."

The companies say analysis of security involved in monitoring the risks of investing in hazardous environments, that Iraq has seen relatively stable reasonable since 2010 has encouraged wheel rotation economy and attract some investments cautious, which is experiencing a Baghdad these days the opening of markets and new projects, work was begun in the phase of relative stability, while the country is exposed to waves of violence and setbacks, the last flight of hundreds of Abu Ghraib prison, the largest in Iraq, which is what makes observers think a bad place not familiar Iraqis, but during the years 2006 and 2007.

It is noteworthy Tamimi, "There are rigid, and the decline of about 70% compared to actively economy two years ago, and the more experienced Baghdad to a wave of suicide attacks, there was an atmosphere gloomy and led to the postponement of all, a serious matter that the areas attracting investors such as Basra, thanks to the importance of the opportunities and the prevalence of its security, exposed to the attacks began consecutive scared businessmen as well. "

He believes that the investment community, which includes local businessmen and foreigners began talking about the "postponement of big business about 12 months, until the completion of the next parliamentary ballot, and the formation of a new government that might succeed in the absorption of the political divide and security collapse."

He says that politicians "if they do not send reassuring messages through the efforts of calm and conciliatory negotiations, and if it does not succeed in thwarting al-Qaeda operations, the postponement of projects would befall banks inertia activity is commonly more unemployment in the private sector."

The economist stressed as Antoine, in an interview to the (Presse term) on "The recovery of the economy requires a safe environment militarily and politically because of violence and political differences factors rein in domestic investment and reduce the chances of the coming of the foreign investor to Iraq."

He added, "The bombings repeated in Iraq, it is necessary to limit the activity of investors and affect commercial traffic by about a year, especially as the transport sector and killings suffered by truckers affect trading of goods and services and the commercial reality as well as the movement banking, and therefore the standard of living of a private Statistics classes. "

The economist expects that "the continuation of this violence, if it continues for a long time, to leave the country to the Iraqi investor abroad," and shows that "the result leads to the fear of foreign investors from coming to Iraq and look for other opportunities outside."

For his part, said Majid picture, professor of economics at the University of Baghdad, that "Iraq is heading toward the consumer economy by encouraging large internal and external forces," and asserts that "greed merchants parasites led to a significant increase in house prices despite the decline in the world."

He explained in an interview with the "long" that "political turmoil or security of any country in the world adversely affect the economy in and the results of the business about a year whether commercial or economic or service," and shows that "if added to the financial and administrative corruption and lack of consensus on the methodology work and the identity of the state and economic direction, it must be a very big impact on the Iraqi economy. "

And saw the head of Baghdad Chamber of Commerce former farmer Commune, that "violence has become to invest in general and the national thereof in particular, because the environment violent lead to a flight of investors," said the "long-Presse that" any "economic process does not without a national investment and foreign," and asserts that "Except for oil licensing rounds there is a scarcity of investing in Iraq because the environment is safe and the case will remain what it is as long as its security situation does not improve"

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