Iraq is facing the challenges of diversification of the economy
Iraq faces the challenge of how to achieve greater economic diversification despite the continued expansion of the exploitation of its oil resources, nor the Iraqi economy is still suffering structural weaknesses, such as the small size of the non-oil sector and the dominance of the public sector at all joints of the economy, and the lack of an enabling environment for doing business.
He predicted «Qatar National Bank Group ‘valuable report’ economic growth to remain strong in the short term, with continued growth by relying mainly on developments in the oil sector. The report also pointed to the «risk to the macroeconomic situation, such as aggravation of social instability and poor implementation of policies, and these risks can lead to reduced oil revenues, and then to a weakening of the financial situation, which could lead to a rise in the levels of acceleration of inflation.
He guessed report rise in GDP of Iraq at constant prices 6.3 percent in the year 2014, with the escalation of the increase in oil production, in addition to accelerating the expansion of government services, trade and construction, as well as increased investing heavily in many of the oil fields and the escalation of the growth momentum in the infrastructure, but «factors such as the challenge of unstable social situation, and external shocks, and the weakness of the economic structure, represent risks to the prospects for the future of Iraq in the short term.
According to the report: «The challenge remains the president of the Iraqi economy in the medium term, the development of its non-oil sector, which could lead to the diversification of the sources of the economy, and raise the standard of living and improve the social conditions of the Iraqi people. The acceleration of oil production in Iraq led to an increase in per capita GDP of 1790 dollars in 2005 to $ 6,300 in 2012, despite the difficulties faced by the country at the social level. He said that the overall performance of the economy of Iraq in recent years was well on the back of the recovery of oil production, «In 2012, oil production reached the highest level in 30 years, and the accelerated growth of GDP at constant prices 6.4 percent on average during the period 2005-2012 in the light of the rise in oil production and prices.
He explained that the high economic growth based on the expansion of the oil sector may not be enough to ensure continuity of prosperity, because the lack of economic diversification, yet makes economic growth for Iraq sensitive to fluctuations in global oil prices, and may lead to damage to macroeconomic stability, and therefore the economic diversification may be a challenge to the Iraqi government in terms of creating new jobs, and in finding income-generating opportunities for the vast majority of the population.
He pointed out that the IMF contributed to the support of the government program of economic reform for the medium term, and thus helped to improve the sustainability of public finances and reduce the sensitivity of the Iraqi economy and influenced by the sudden retreat of oil revenues.
[You must be registered and logged in to see this link.]
Iraq faces the challenge of how to achieve greater economic diversification despite the continued expansion of the exploitation of its oil resources, nor the Iraqi economy is still suffering structural weaknesses, such as the small size of the non-oil sector and the dominance of the public sector at all joints of the economy, and the lack of an enabling environment for doing business.
He predicted «Qatar National Bank Group ‘valuable report’ economic growth to remain strong in the short term, with continued growth by relying mainly on developments in the oil sector. The report also pointed to the «risk to the macroeconomic situation, such as aggravation of social instability and poor implementation of policies, and these risks can lead to reduced oil revenues, and then to a weakening of the financial situation, which could lead to a rise in the levels of acceleration of inflation.
He guessed report rise in GDP of Iraq at constant prices 6.3 percent in the year 2014, with the escalation of the increase in oil production, in addition to accelerating the expansion of government services, trade and construction, as well as increased investing heavily in many of the oil fields and the escalation of the growth momentum in the infrastructure, but «factors such as the challenge of unstable social situation, and external shocks, and the weakness of the economic structure, represent risks to the prospects for the future of Iraq in the short term.
According to the report: «The challenge remains the president of the Iraqi economy in the medium term, the development of its non-oil sector, which could lead to the diversification of the sources of the economy, and raise the standard of living and improve the social conditions of the Iraqi people. The acceleration of oil production in Iraq led to an increase in per capita GDP of 1790 dollars in 2005 to $ 6,300 in 2012, despite the difficulties faced by the country at the social level. He said that the overall performance of the economy of Iraq in recent years was well on the back of the recovery of oil production, «In 2012, oil production reached the highest level in 30 years, and the accelerated growth of GDP at constant prices 6.4 percent on average during the period 2005-2012 in the light of the rise in oil production and prices.
He explained that the high economic growth based on the expansion of the oil sector may not be enough to ensure continuity of prosperity, because the lack of economic diversification, yet makes economic growth for Iraq sensitive to fluctuations in global oil prices, and may lead to damage to macroeconomic stability, and therefore the economic diversification may be a challenge to the Iraqi government in terms of creating new jobs, and in finding income-generating opportunities for the vast majority of the population.
He pointed out that the IMF contributed to the support of the government program of economic reform for the medium term, and thus helped to improve the sustainability of public finances and reduce the sensitivity of the Iraqi economy and influenced by the sudden retreat of oil revenues.
[You must be registered and logged in to see this link.]
Today at 7:23 am by Rocky
» Central Bank: Importance of cooperation and money transfer to facilitate trade with Azerbaijan
Today at 7:19 am by Rocky
» Iraqi Businesswomen Council: A safe environment to support women’s entrepreneurship and develop skil
Today at 7:15 am by Rocky
» Economist: The value of the dinar will decrease and the financial deficit will increase
Today at 7:12 am by Rocky
» American website: Iraq's budget suffers from a deficit of $49.3 billion
Today at 7:11 am by Rocky
» Good news for journalists and writers.. The "financial grant" will be launched on this date
Today at 7:09 am by Rocky
» Iraq is the third Arab country in gold reserves
Today at 7:06 am by Rocky
» Wanted by Iraqi judiciary.. An "Iraqi-American" diplomatic crisis with Trump's victory in the US pre
Today at 7:04 am by Rocky
» Central Bank of Iraq sells more than $280 million in auction today
Today at 6:59 am by Rocky
» Trump's victory... will it be a lifeline from the "judicial guillotine"?
Today at 6:57 am by Rocky
» After winning the presidential race, Trump talks about a “strong mandate”
Today at 6:57 am by Rocky
» Al-Sudani chairs meeting with IATA delegation
Today at 6:54 am by Rocky
» Central Bank Governor stresses need for cooperation to facilitate trade with Azerbaijan
Today at 6:53 am by Rocky
» utube 11/6/24 Donald Trump's full victory speech
Today at 6:50 am by Rocky
» Deep State Confronted by Trump.. Will Elon Musk Lead America, the World and “Mars”?
Today at 6:43 am by Rocky
» Alsumaria Noon Bulletin Files: Trump's Victory and Objections to the General Amnesty Law
Today at 6:40 am by Rocky
» Parliamentary bloc explains reasons for demanding extension of legislative term
Today at 5:11 am by Rocky
» Al-Sudani discusses with an international delegation lifting the ban on Iraqi Airways
Today at 5:09 am by Rocky
» Axios: Washington warned Baghdad that Israel may attack Iraq if it does not prevent the Iranian atta
Today at 5:08 am by Rocky
» Trump declares victory in US elections: I will not start wars, but I will end them
Today at 5:06 am by Rocky
» Parliamentary Foreign Affairs: Trump is wanted by the Iraqi judiciary, but the country's interest co
Today at 5:03 am by Rocky
» "Al-Eqtisad News" publishes the full decisions of the Cabinet session
Today at 5:01 am by Rocky
» Bitcoin Hits All-Time High in Early Trading
Today at 4:58 am by Rocky
» Iraq tops the list of countries importing Arab products related to construction activity
Today at 4:56 am by Rocky
» 2025 Strong national economy and sound banks
Today at 4:53 am by Rocky
» Government stresses the need to secure petroleum derivatives for energy production
Today at 4:52 am by Rocky
» Anbar: The second phase of the electricity connection with Jordan has reached its end
Today at 4:51 am by Rocky
» Iraq's gold holdings rise to more than 152.5 tons
Today at 4:50 am by Rocky
» Al-Alaq stresses to Azerbaijani ambassador the importance of cooperation in transferring money to fa
Today at 4:49 am by Rocky
» 7 decisions on the general population census
Today at 4:47 am by Rocky
» The world awaits the new US president
Today at 4:45 am by Rocky
» Sudanese demands stopping the Zionist aggression
Today at 4:44 am by Rocky
» Wasit: Distribution of seeds among farmers with a support rate of 70 percent
Today at 4:43 am by Rocky
» Trade: Central markets {hypermarkets} to officially open in 2025
Today at 4:42 am by Rocky
» Civil Service Council: Controls for appointing land donors
Today at 4:41 am by Rocky
» Baghdad Municipality: Measures to avoid damage from oil spills in the Tigris
Today at 4:39 am by Rocky
» The Board of Trustees discusses a number of topics related to developing the work of the media netwo
Today at 4:38 am by Rocky
» Sovereign guarantees boost labor market
Today at 4:36 am by Rocky
» Mazhar Saleh: No impact of oil price drop on operating budget
Today at 4:35 am by Rocky
» Iraq's share in the IMF
Today at 4:35 am by Rocky
» Trump's "Historic" Victory: World Leaders Congratulate Him
Today at 4:33 am by Rocky
» Amid US Elections, China Hopes for Peaceful Coexistence with US
Today at 4:31 am by Rocky
» Judge Zeidan discusses with the Special Representative of the Secretary-General of the United Nation
Today at 4:30 am by Rocky
» The President of the Republic congratulates Trump on winning the presidential elections in the Unite
Today at 4:29 am by Rocky
» Following Trump's victory, EU leaders call for emergency meeting
Today at 4:28 am by Rocky
» Nineveh Education: We completed 52 schools under the Chinese loan
Today at 4:26 am by Rocky
» With Arab and foreign participation...the launch of the sessions of the Ninth International Scientif
Today at 4:25 am by Rocky
» Al-Sudani chairs a meeting to follow up on fuel procedures for energy production
Today at 4:24 am by Rocky
» Bitcoin Touches $75K for First Time as Investors Bet on Trump Win
Today at 4:23 am by Rocky
» Trump's Trading Gains Momentum... Markets and Stocks Rise Strongly
Today at 4:22 am by Rocky
» Parliament responds to the framework’s call and sets the extension period for its legislative term
Today at 4:20 am by Rocky
» After the decision to compensate the region for the costs of oil production and transportation.. an
Today at 4:19 am by Rocky
» For the first time in 4 years, Republicans win the majority in the Senate
Today at 4:18 am by Rocky
» Challenges of Trump's Arrival to the White House and Its Impact on Iraq
Today at 4:16 am by Rocky
» Zidane discusses with Al-Hassan the judicial procedures for achieving security and social stability
Today at 4:14 am by Rocky
» US Stocks, Bitcoin Gain as Trump Surges in Election Race
Today at 4:13 am by Rocky
» Dollar price drops against dinar in Iraq
Today at 4:11 am by Rocky
» Workers in Iraq: Continued "marginalization" and calls to "ratify" the retirement and social securit
Today at 4:10 am by Rocky
» “Pharmaceutical Cities”: A Step Towards Self-Sufficiency or a New Challenge for Local Industry?
Today at 4:09 am by Rocky
» In a phone call with the US Secretary of State... Al-Sudani warns of the dangers of the continuation
Today at 4:07 am by Rocky
» It has not happened in 132 years.. Trump is on the verge of a historic achievement
Today at 4:06 am by Rocky
» Iraqi Drilling: Drilling and rehabilitating 15 oil wells in October to boost production
Today at 4:04 am by Rocky
» Iraq Facing Challenges: Hopes of Establishing a Waste Recycling Plant in the East... Will It Succeed
Today at 4:03 am by Rocky
» Interior: Unprecedented decline in crime rates across Iraq
Today at 4:02 am by Rocky
» ILO: Enacting the Social Security Law in Iraq is a Historic Step Towards Protecting Workers
Today at 3:59 am by Rocky
» Iraqi Tourism Companies Association participates in World Travel Market
Today at 3:58 am by Rocky
» Al-Sudani stresses to Blinken the need to double efforts to stop the war
Today at 3:57 am by Rocky
» The Iraqi Council of Ministers approves a set of service, economic and urban decisions
Today at 3:56 am by Rocky
» Trump's Win Prospects Lift Stocks, Markets Strongly... Dollar at 5-Year High
Today at 3:53 am by Rocky
» A look at the latest results.. Republicans swallow the House of Representatives, the Senate and the
Today at 3:51 am by Rocky
» A look at the latest results.. Republicans swallow the House of Representatives, the Senate and the
Today at 3:50 am by Rocky
» Fox News: Trump is the 47th president of America with 277 votes
Today at 3:48 am by Rocky
» Morning list of dollar exchange rates in Iraqi stock exchanges
Today at 3:47 am by Rocky
» Al-Araji and Al-Sabah at one table in Kuwait.. Discussing several files and issues
Today at 3:46 am by Rocky
» Highlights of Trump's speech after winning the US presidential election
Today at 3:44 am by Rocky
» Iraq and Saudi Arabia's trade achieves tangible convergence and investment cooperation
Yesterday at 7:08 am by Rocky
» Ports Authority notes the fate of the five berths in the Grand Faw Port
Yesterday at 7:03 am by Rocky
» MP: Why is the regional government fighting the civil banks war and leaving the core of the issue?
Yesterday at 6:57 am by Rocky
» Political researcher: The amendment will include sovereign ministries
Yesterday at 6:54 am by Rocky
» Retirement: End of service bonus paid to more than 7,000 retirees
Yesterday at 6:50 am by Rocky
» Al-Mashhadani stresses the importance of the role of the Audit Bureau in combating administrative an
Yesterday at 6:48 am by Rocky
» Al-Mashhadani and Al-Hakim discuss parliament’s approval of important laws
Yesterday at 6:47 am by Rocky
» Parliamentary consensus to pass controversial laws soon
Yesterday at 6:45 am by Rocky
» Currency Auction.. Increase in the Central Bank of Iraq’s sales of foreign remittances
Yesterday at 6:43 am by Rocky
» Interior Ministry dismantles 600 drug networks, electronic passport to be introduced soon - Press co
Yesterday at 6:41 am by Rocky
» utube 11/2/24 MM&C Report-Iraq 3 Presidents-National-Constitutional Entitlements-Open Market Operati
Yesterday at 5:22 am by Rocky
» Foreign Minister warns of major and dangerous economic repercussions
Yesterday at 5:12 am by Rocky
» Roadmap for Reform
Yesterday at 5:10 am by Rocky
» Government reshuffle looms over Al-Sudani’s cabinet.. The compass of change is heading towards 4 min
Yesterday at 5:08 am by Rocky
» Parliamentary move to legalize foreign labor in Basra
Yesterday at 5:07 am by Rocky
» Parliament intends to amend the retirement law and return the service age to 63 years
Yesterday at 5:06 am by Rocky
» Parliamentary move to question a senior official and complete procedures against the Minister of Com
Yesterday at 5:04 am by Rocky
» Legal expert explains the mechanism for forming the Kurdistan Regional Government
Yesterday at 5:03 am by Rocky
» Silk Road imposes a state of maximum alert suddenly
Yesterday at 5:01 am by Rocky
» Sheikh Raouf: There is an urgent need to find a constructive, corrective opposition in Kurdistan
Yesterday at 5:00 am by Rocky
» Green light from Baghdad to build the first waste recycling plant in eastern Iraq
Yesterday at 4:59 am by Rocky
» MP: Al-Mashhadani discussed 3 important files with parliamentary blocs
Yesterday at 4:58 am by Rocky
» MP: Al-Mashhadani's election will not affect the completion of legislation
Yesterday at 4:56 am by Rocky
» Parliamentary Oil: Investment in associated gas in fields exceeds 60%
Yesterday at 4:54 am by Rocky