Baghdad / term
Planning Minister Salman al - Jumaili, said on Saturday, that our economy is still suffering deflation because of the continuing decline in oil prices in global markets, the next Mrahltna must be to build and promote the economic reality. "
The Salman Jumaili during a speech at the Conference of the preparation of the five - year development plan in Erbil, that" military victory over the organization of Daesh and liberating the land is not enough, but we have the reconstruction of our cities liberated, noting that, declining oil prices led to a state of deflation in our country 's economy, and Mrahltna ahead must be constructive and the advancement of the economic reality stage ".otraja the role of the private sector in Iraq 's development of Economic over the past years due to the lack of government interest in providing the capabilities needed to sustain the work of the private sector companies that have closed hundreds of them and laid off workers.
Between Jumaili, start preparing a new development plan is the revitalization of the private sector and the strengthening of administrative decentralization in the country. "
The International Monetary Fund predicted last March, the survival of the Iraqi economy during the year 2017 "subdued" as a result of reduced oil production by 15%., Where Iraq depends on oil imports to finance 95% of the budget, which produces about 2.5 million barrels per day, with plans to increase production to 4 million barrels per day.
The fallen Iraqi Central Bank 's reserves of hard currency to $ 49 billion, after last year was $ 53 billion, as a result of the continuing decline in oil prices in the world markets, according to the announcement by the bank last February.
The Iraqi government resorted to raising sales taxes on imported goods in order to strengthen the financial revenue to reduce the size of the financial crisis faced by the country as a result of low oil prices in global markets.
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