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MPs and experts in favor of warnings from the International Monetary Fund Iraq's dependence on oil
Author: BS, ZJ
Editor: BK, BS 22.12.2013 12:01 Number of readings: 120
Long-Presse / Baghdad
Warned parliamentarians, economists and oil, on Sunday, of the consequences of Iraq's dependence entirely on oil, and expressed support for the report by the International Monetary Fund on the performance of the local economy, and Fimaakdt parliamentary Finance Committee that they had already informed the government repeatedly remarks similar without having any reaction because officials "lack of visions of future economic", saw an economist that the problem lies in Iraqi funds they "run around irrational," while oil expert has warned of the consequences of non-crystallizing economic vision for the future.
A report by IMF experts on Article IV Consultation with Iraq in 2013 the current, which was obtained (range Press), a copy of which may be asserted in one of its aspects, that Iraq still depends entirely on oil, with the presence of the structure of spending a rigid, low in foreign direct investment, and the weakness of the business environment and governance, and the financial system in Iraq "strongly late" to keep pace with development, expecting the survival of macro-economic outlook, "driven by developments in the oil sector", in light of the continued rise in foreign reserves.
Parliamentary Finance: As long as we raised similar observations but no response has
In the opinion of a member of the parliamentary finance committee, Magda al-Tamimi, in an interview to the (long-Presse), said that "the observations contained in the report of IMF experts on Article IV Consultation with Iraq in 2013 the current, and others, addressed the Commission since 2011 last year, as confirmed at the time that Committee formed in the Cabinet Secretariat tarnished Project Unified Retirement, "indicating that" Iraqi officials do not think the interests of the country and do not take the recommendations and economic visions provided by Parliament for them. "
It adds Tamimi, that "the Commission has long offered such observations similar to those contained in the World Bank from the stomachs that wakes her one of the government officials," afterthought said, "but perhaps mindful concerned now on the report of experts Monetary Fund guardian, because they tend to view foreign more than Iraq ".
And describes the member parliamentary Finance Committee, that "the resolution in Iraq is a political nature and not economic, because officials lack the visions of future economic", and demonstrate, however, that "the state budget prepared by the experts and spend the time and effort, thrown in drawers and progress of the parliament again different."
It is noteworthy that the state budget as long as progress late in the year to the parliament, but the government did not send yet to Parliament during the year 2013 the current, which is likely to lead to a delay in approval by about affect service projects and programs of the provinces, especially in the start of the countdown for the parliamentary elections and exacerbate the differences and tensions between the political blocs.
Economist: Iraq funds managed irrational
In the view of an economist, that "the problem lies in Iraqi funds they managed about irrational, since the disposal of large amounts of money without results, we are weak or they are not commensurate with its size and potential of human and material resources enjoyed by Iraq."
He says Majid picture, in an interview to the (long-Presse), "The economic problem basically lies in the lack of a sound environment for the work of the private sector or stimulate productivity, and lack of appropriate legislative environment to achieve economic growth," adding that "the scarcity of electricity does not fit the growth of infrastructure in the agricultural and industrial sectors, which led to the weakness of domestic production. "
He continues the picture, that "reports of IMF experts and realistic, and rely official statistics issued by the Iraqi government," and expressed surprise at the "lack of government's efforts to provide a suitable environment for the work of the private sector, especially the public sector is still consumes more than it gives."
Explains economic expert, that "solutions that depend on them the government in the elimination of unemployment is exaggerating the administrative apparatus," pointing out that "the administrative apparatus of the state has increased from 850 thousand employees, including military personnel, to about four and a half million, including retirees."
Iraq has suffered from high unemployment, both among young people who are able to work or between university graduates, and is believed by many economists that the statistical estimates for these young people do not necessarily reflect the reality that already exists.
The former oil minister: total reliance on oil poses a threat to the Iraqi economy
Confirms oil expert that "Iraq has not been able since 2008 and until now crystallizing vision of sound economic nation-building", proving that the "economy remains dependent on oil as the basis in Moisnath, without did not constitute agricultural and industrial sectors and service ratio of merit in output Local. "
The expert says oil minister, a former Ibrahim Bahr al-Ulum, in an interview to the (long-Presse), said that "lack of crystallization economic vision is one of the risks key to the future of Iraq," is that "Iraq is not yet able to employ oil revenues which exceeded more than 600 billion dollars over the past ten years, the diversification of the economies of the country believes guarantees about the future. "
And demanding Bahr al-Ulum, the political blocs need to "submit their projects economic seriousness, especially as it moves to contest the legislative elections, on the grounds that the economy will be the governor during the next phase," and promises to "any bloc or party does not possess such economic vision integrated to rid Iraq of the impasse unilateral rent or face failure. "
And emphasizes the expert and the oil minister, former, that "the International Monetary Fund from organizations ancient, and must take its recommendations, especially that he familiar structures spending in Iraq", and corrects that "most aspects of the budgets of the state goes to the tunnels, and the investment budget for Iraq a few, and is still the central Governor on most projects, in light of the failure of banking and financial sphere. "
Explains Bahr al-Ulum, that "the most dangerous of all, is the lack of transparency in Iraq, especially in presenting plans future productivity of the oil sector, as happened in 2010, when Iraq tried to put it on the public and the international community," and goes on to "the figures put forward today is non- of the application. "
The oil expert went on, that "Iraq should benefit from its oil wealth, and do gas investment, which is basically the dilemma that can be graduating from the neck of the bottle," It is considered that this would "contribute to control the volatility of the oil market potential."
It is noteworthy that Iraq's oil reserves of up to 140 billion barrels, which is the fastest growing in terms of export among OPEC countries and the rest of the world, where it is hoped that this will lead to a jump produced, which achieved a boom starting in 2010, and production is estimated to Iraq's current 3.2 million barrels per day an increase of about one million b / d from 2007. The highest production level achieved in the history of Iraq is 3.8 million b / d in 1979, and jumped Iraq this level of export to second place, surpassing Iran, which is now in third place.
The last economic and financial indicators of Iraq, confirming that the rate of price inflation basis, became in 2013 the current 5.0%, after it was 4.2% in 2012, the past, which means that there is an increase in inflation, at a time when the indicator shows, that oil production after it was in 2012, 2.95 million barrels per day, is expected to increase later this year to 3.33 million, bringing the Iraqi per capita GDP to 67.8% in 2013, after it was 63.5 % in 2012, which means that the per capita share of Iraq in 2013 to be the current 0.6300 dollars annually.
And announced that the United Nations Mission in Iraq (UNAMI), in (22 October 2013), that six million Iraqis out of 33 million, still live below the poverty line in a country that exceed the annual financial budget of $ 100 billion.
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Author: BS, ZJ
Editor: BK, BS 22.12.2013 12:01 Number of readings: 120
Long-Presse / Baghdad
Warned parliamentarians, economists and oil, on Sunday, of the consequences of Iraq's dependence entirely on oil, and expressed support for the report by the International Monetary Fund on the performance of the local economy, and Fimaakdt parliamentary Finance Committee that they had already informed the government repeatedly remarks similar without having any reaction because officials "lack of visions of future economic", saw an economist that the problem lies in Iraqi funds they "run around irrational," while oil expert has warned of the consequences of non-crystallizing economic vision for the future.
A report by IMF experts on Article IV Consultation with Iraq in 2013 the current, which was obtained (range Press), a copy of which may be asserted in one of its aspects, that Iraq still depends entirely on oil, with the presence of the structure of spending a rigid, low in foreign direct investment, and the weakness of the business environment and governance, and the financial system in Iraq "strongly late" to keep pace with development, expecting the survival of macro-economic outlook, "driven by developments in the oil sector", in light of the continued rise in foreign reserves.
Parliamentary Finance: As long as we raised similar observations but no response has
In the opinion of a member of the parliamentary finance committee, Magda al-Tamimi, in an interview to the (long-Presse), said that "the observations contained in the report of IMF experts on Article IV Consultation with Iraq in 2013 the current, and others, addressed the Commission since 2011 last year, as confirmed at the time that Committee formed in the Cabinet Secretariat tarnished Project Unified Retirement, "indicating that" Iraqi officials do not think the interests of the country and do not take the recommendations and economic visions provided by Parliament for them. "
It adds Tamimi, that "the Commission has long offered such observations similar to those contained in the World Bank from the stomachs that wakes her one of the government officials," afterthought said, "but perhaps mindful concerned now on the report of experts Monetary Fund guardian, because they tend to view foreign more than Iraq ".
And describes the member parliamentary Finance Committee, that "the resolution in Iraq is a political nature and not economic, because officials lack the visions of future economic", and demonstrate, however, that "the state budget prepared by the experts and spend the time and effort, thrown in drawers and progress of the parliament again different."
It is noteworthy that the state budget as long as progress late in the year to the parliament, but the government did not send yet to Parliament during the year 2013 the current, which is likely to lead to a delay in approval by about affect service projects and programs of the provinces, especially in the start of the countdown for the parliamentary elections and exacerbate the differences and tensions between the political blocs.
Economist: Iraq funds managed irrational
In the view of an economist, that "the problem lies in Iraqi funds they managed about irrational, since the disposal of large amounts of money without results, we are weak or they are not commensurate with its size and potential of human and material resources enjoyed by Iraq."
He says Majid picture, in an interview to the (long-Presse), "The economic problem basically lies in the lack of a sound environment for the work of the private sector or stimulate productivity, and lack of appropriate legislative environment to achieve economic growth," adding that "the scarcity of electricity does not fit the growth of infrastructure in the agricultural and industrial sectors, which led to the weakness of domestic production. "
He continues the picture, that "reports of IMF experts and realistic, and rely official statistics issued by the Iraqi government," and expressed surprise at the "lack of government's efforts to provide a suitable environment for the work of the private sector, especially the public sector is still consumes more than it gives."
Explains economic expert, that "solutions that depend on them the government in the elimination of unemployment is exaggerating the administrative apparatus," pointing out that "the administrative apparatus of the state has increased from 850 thousand employees, including military personnel, to about four and a half million, including retirees."
Iraq has suffered from high unemployment, both among young people who are able to work or between university graduates, and is believed by many economists that the statistical estimates for these young people do not necessarily reflect the reality that already exists.
The former oil minister: total reliance on oil poses a threat to the Iraqi economy
Confirms oil expert that "Iraq has not been able since 2008 and until now crystallizing vision of sound economic nation-building", proving that the "economy remains dependent on oil as the basis in Moisnath, without did not constitute agricultural and industrial sectors and service ratio of merit in output Local. "
The expert says oil minister, a former Ibrahim Bahr al-Ulum, in an interview to the (long-Presse), said that "lack of crystallization economic vision is one of the risks key to the future of Iraq," is that "Iraq is not yet able to employ oil revenues which exceeded more than 600 billion dollars over the past ten years, the diversification of the economies of the country believes guarantees about the future. "
And demanding Bahr al-Ulum, the political blocs need to "submit their projects economic seriousness, especially as it moves to contest the legislative elections, on the grounds that the economy will be the governor during the next phase," and promises to "any bloc or party does not possess such economic vision integrated to rid Iraq of the impasse unilateral rent or face failure. "
And emphasizes the expert and the oil minister, former, that "the International Monetary Fund from organizations ancient, and must take its recommendations, especially that he familiar structures spending in Iraq", and corrects that "most aspects of the budgets of the state goes to the tunnels, and the investment budget for Iraq a few, and is still the central Governor on most projects, in light of the failure of banking and financial sphere. "
Explains Bahr al-Ulum, that "the most dangerous of all, is the lack of transparency in Iraq, especially in presenting plans future productivity of the oil sector, as happened in 2010, when Iraq tried to put it on the public and the international community," and goes on to "the figures put forward today is non- of the application. "
The oil expert went on, that "Iraq should benefit from its oil wealth, and do gas investment, which is basically the dilemma that can be graduating from the neck of the bottle," It is considered that this would "contribute to control the volatility of the oil market potential."
It is noteworthy that Iraq's oil reserves of up to 140 billion barrels, which is the fastest growing in terms of export among OPEC countries and the rest of the world, where it is hoped that this will lead to a jump produced, which achieved a boom starting in 2010, and production is estimated to Iraq's current 3.2 million barrels per day an increase of about one million b / d from 2007. The highest production level achieved in the history of Iraq is 3.8 million b / d in 1979, and jumped Iraq this level of export to second place, surpassing Iran, which is now in third place.
The last economic and financial indicators of Iraq, confirming that the rate of price inflation basis, became in 2013 the current 5.0%, after it was 4.2% in 2012, the past, which means that there is an increase in inflation, at a time when the indicator shows, that oil production after it was in 2012, 2.95 million barrels per day, is expected to increase later this year to 3.33 million, bringing the Iraqi per capita GDP to 67.8% in 2013, after it was 63.5 % in 2012, which means that the per capita share of Iraq in 2013 to be the current 0.6300 dollars annually.
And announced that the United Nations Mission in Iraq (UNAMI), in (22 October 2013), that six million Iraqis out of 33 million, still live below the poverty line in a country that exceed the annual financial budget of $ 100 billion.
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