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[size=36]Advisor to the Prime Minister: The market value of Iraq's raw wealth exceeds $15 trillion[/size]
political | 02:55 - 01/07/2023
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Baghdad - Mawazine News
Today, Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified a theory to maximize Iraq's revenues through its natural resources, and while he confirmed that Iraq ranks ninth in the world with its resources, he indicated that the market value of Iraq's raw wealth exceeds 15 trillion dollars.
Saleh said, in an interview with the official agency: “Iraq is one of the most important countries in the world, if not at the forefront of nations rich in natural resources or raw materials within the scope of the international classification of resources on the globe, as Iraq takes the (ninth) sequence among the priority of countries in the world that possess Natural diversity and economic quantities in the capacity of raw materials reservoirs capable of manufacturing and export or national industrial use.
He added: "As the circles estimate that the market value of those raw wealth in our country may exceed 15 trillion dollars at the current value, compared to about 45 trillion dollars for the United States of America, which is (the second) globally, and 75 trillion dollars for the Russian Federation, which is (the first) globally."
And he continued: “And when taking into account the historical experience in development, which is represented today by the development of an important international group of economies called (raw or basic material countries), which relied in their economic development and development on the manufacture and export of natural resources, Canada, Australia and New Zealand come at the forefront today, The thesis (raw or basic materials) comes in economic development, and it is one of the theories of export-led growth.
He pointed out that "the theory of export-led growth has its origins in research in social, political and economic history that was conducted specifically in Canadian universities by researchers of what were known as political economy departments, and among these groups of researchers was the economist Harold Ennis, Mackintosh and others, among the most prominent." researchers who took this approach.
And he added, "Therefore, we find that our country carries a unique model of economic development that puts it in the ranks of developed nations, and development can proceed strongly from the theory of manufacturing raw or natural materials in our country and exporting it to lead development," pointing out that "the natural resources that the economic model may work on Al-Iraqi for Development is represented by manufacturing raw exports with dozens of exploitable natural resources, provided that manufacturing chains with high technologies are capable of generating internal manufacturing linkages, which is called (value-added chains generated from links or backlinks of inputs and outputs) within the national factory. Iraq, through which the process of manufacturing and manufacturing is maximized, and the added value flourishes before being exported as products, which serve as production inputs to world markets.
He stressed "the importance of Derayah's reflection on the prosperity of economic development and the growth rates required to be achieved, in light of the degree of development of material capital accumulation and its high value, or in terms of the growth of the gross domestic product of our country."
Saleh said, in an interview with the official agency: “Iraq is one of the most important countries in the world, if not at the forefront of nations rich in natural resources or raw materials within the scope of the international classification of resources on the globe, as Iraq takes the (ninth) sequence among the priority of countries in the world that possess Natural diversity and economic quantities in the capacity of raw materials reservoirs capable of manufacturing and export or national industrial use.
He added: "As the circles estimate that the market value of those raw wealth in our country may exceed 15 trillion dollars at the current value, compared to about 45 trillion dollars for the United States of America, which is (the second) globally, and 75 trillion dollars for the Russian Federation, which is (the first) globally."
And he continued: “And when taking into account the historical experience in development, which is represented today by the development of an important international group of economies called (raw or basic material countries), which relied in their economic development and development on the manufacture and export of natural resources, Canada, Australia and New Zealand come at the forefront today, The thesis (raw or basic materials) comes in economic development, and it is one of the theories of export-led growth.
He pointed out that "the theory of export-led growth has its origins in research in social, political and economic history that was conducted specifically in Canadian universities by researchers of what were known as political economy departments, and among these groups of researchers was the economist Harold Ennis, Mackintosh and others, among the most prominent." researchers who took this approach.
And he added, "Therefore, we find that our country carries a unique model of economic development that puts it in the ranks of developed nations, and development can proceed strongly from the theory of manufacturing raw or natural materials in our country and exporting it to lead development," pointing out that "the natural resources that the economic model may work on Al-Iraqi for Development is represented by manufacturing raw exports with dozens of exploitable natural resources, provided that manufacturing chains with high technologies are capable of generating internal manufacturing linkages, which is called (value-added chains generated from links or backlinks of inputs and outputs) within the national factory. Iraq, through which the process of manufacturing and manufacturing is maximized, and the added value flourishes before being exported as products, which serve as production inputs to world markets.
He stressed "the importance of Derayah's reflection on the prosperity of economic development and the growth rates required to be achieved, in light of the degree of development of material capital accumulation and its high value, or in terms of the growth of the gross domestic product of our country."
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