21:34 - 10-12-2022
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained today, Wednesday, the reasons that allowed Iraq to record the highest Arab growth rates this year, which exceeded 9%, according to a report by the International Monetary Fund, describing this percentage as the highest in the history of Iraq.
Saleh said, "The reason for the growth achieved by 9.4% within one year, which is the highest in Iraq's history, is due to the increase in Iraq's exports by about one million barrels compared to the period of the emergence of the Corona pandemic, as well as the increase in oil prices by 40%, as well as the presence of a large reconstruction campaign in the liberated cities."
He added, "There is a fourth reason due to the activity of the digital communications sector, and a fifth is due to the initiative of the Central Bank, which amounted to 19 trillion dinars and provided housing loans and support for youth projects."
On how to maintain this growth, Salih explained that “there are financial savings represented by the increase in the Central Bank’s reserves that support economic stability, and others related to the rise in oil prices, and it ranges, according to our estimates, between 15-20 billion dollars, and this should be invested in a budget legislation for the next year, especially since the budget represents 50% of the The value of the domestic product has an investment aspect that supports the development sector in the country and maintains good growth rates.”
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