Specialists: Iraq's economy strong and will not be affected by the new financial crisis

Specialists: Iraq's economy strong and will not be affected by the new financial crisis

10/08/2013 12:00 AM

Receded in the vicinity of the U.S. and its effects may affect the world

BAGHDAD - Farah pumice

With the entry of the United States of America a new economic crisis because of a failure to approve its budget crisis similar to 2008, despite the different reasons, specialists, experts reassured citizens that the Iraqi economy is solid and will not be affected by this crisis.

Chairman of the Securities Commission, Dr. Abdul Razzaq al-Saadi said in a statement to the (morning): "The disruption that occurs in not approving the budget, the U.S. has so far never had any global impact, but the problem lies in the case did not pay the U.S. debt causing a crisis in global financial markets. "

He said al-Saadi said "the housing crisis that occurred in 2008 was her interest big on Iraq, especially given that the domestic market was stable and profits is good and a lot of foreign investors, particularly Americans contributed to the Iraqi market, noting that Iraq has no investments abroad in order to be affected positively or negatively reactions that affect the global economy, because the economy strong. said Chairman of the Commission that the Iraqi currency will not be affected by this crisis, especially as the Constitution urges orientation towards a market economy, it is that determines the exchange rate of the dinar rise or decline, calling for the central bank to maintain routine budget its procedures, and to allow either the banks to move, and that keeps the exchange rate of the dinar, as the Iraqi dinar clean and did not come from suspicious sources, so a free market economy to act in Iraqi currency.

Saadi pointed out that if the United States did not pay the U.S. debt could affect global oil prices, especially because it relies on oil reserves, because in this case ستستنفذ stock will not buy from the market leads to lower prices globally.

The U.S. government came close on Monday its second week in light of the warning signals that the United States has become closer to the face of the first default in its history.

And will be watching Washington closely the financial markets to see whether the talks, which are Band rocked Wall Street and economies around the world before the 10 days of the occurrence of default. Pushed the financial crisis of 2008 the United States to face the worst recession since the Great Depression in the thirties of the last century., In turn, The general manager of the single window in the National Investment Commission, Dr. Abdullah al-Bandar said Iraq depends on links to export from a single supplier of oil, so it is possible that affected prices one way or another as a result of the crisis, but the negative effects will depend on how tangles with the economy, he says .

And between Bandar told the (morning) that the financial crisis experienced by the United States in 2008 had little impact on Iraq because its economy is immune reserves are good, considering that the situation indicates that he has no influence in Iraq.

He said the Director-General "At the moment Iraq is closely linked to the economies of the world because he was an importing country, as the trade balance is in favor of Iraq, and exports excluding oil does not constitute a financial value of the large balance of payments, thus more effects you get in oil prices, whether higher or lower, especially that Iraq's oil exporters may therefore reflected negatively, but depends on the strength of the domestic economy and the strength of the world economy. "

As for investments in Iraq saw Bandar that if the crisis have a significant impact on investments in different countries, the trend will be towards the countries with the domestic economy stable, which has not been affected by the crisis, so if it does not reflect the repercussions of the crisis on Iraq, it would be a magnet for investments and not طاردا any would be a positive impact on the economy.

The economic expert on behalf of Jamil Antoine has pointed out in his speech for the (morning) that the U.S. economy is one of the largest economies in the world and its extensions on all countries of the world and highly influential based on the economic relationship between the two countries, citing it as a powerful and with a economic crisis and stop the economic recovery of the United States U.S. debt crisis is directly reflected on the global economy.

He noted Antoine that imports oil the most affected by this crisis, because the United States from oil-consuming countries of Iraq, but not significantly, as well as the eloquence of the government in the bifurcation to sell oil and give investments to many countries such as the East Asian countries of India, China and Japan makes affected by the crisis the U.S. is less than Other countries, noting that the Iraqi economy has extensive trade relations due to the agreement with the United States, but not in that capacity that significantly affect.

[You must be registered and logged in to see this link.]