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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Warnings of "contraction" of the Iraqi economy

    Rocky
    Rocky
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    Warnings of "contraction" of the Iraqi economy Empty Warnings of "contraction" of the Iraqi economy

    Post by Rocky Mon 13 Oct 2014, 8:20 am

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    10/13/2014 






    BAGHDAD / JD / .. warned a number of experts and specialists in the matter of financial and economic vulnerability of the Iraqi economy into deflation as a result of security conditions exceptional experienced by the country, and the delay in approving the budget and increase its fiscal deficit, as well as the decline in Iraqi oil exports, calling during their talk Agency / JD / Federal Government to take the necessary precautions and proactive measures to prevent distorting the balance of trade for the market.
    The International Monetary Fund IMF has announced that the Iraqi economy will be subjected to shrink this year because of the battles plaguing the country, changing its previous forecast that the occurrence of a healthy growth in the country.
    The International Monetary Fund said in its report for the month of October there are expectations that the contraction rate of GDP growth for Iraq for this year by 2.7%, representing a decline from the forecast growth of the Iraqi economy by 5.9% during the month of April.
    Strategic expert in economic affairs peace Quraishi, said: "Iraq today is going through an exceptional situation and the circumstances of difficult security weighed on the overall situation in the country, whether political or economic, and even social", noting that "the bombings continued that occur in various regions of the country, plus it fails casualties they suffered significant financial losses the country up to millions of dollars because of the compensation. "
    Said Quraishi told / JD /: that "military operations waged by Iraq against the terrorist organizations in a number of provinces since the beginning of this year and so far drained large sums of money from the country as a result of the import of weapons and munitions and military equipment and filling costs army and elements of popular mobilization, in the event of separation battle terrorism in Iraq, it will be there financial obligations such as debt repayment on Iraq as a result of the financial import of weapons and aircraft and to compensate the affected areas and exposed to bombing in the hot spots. "
    He added: "The Iraqi economy is now almost a semi-paralyzed because he supported primarily the major production and export of oil, but some oil fields, especially in hot areas parked for production, making it difficult for the Iraqi Oil Ministry to implement its plans in a positive way and the judge to increase the production and export of oil to rates are very large, as was originally planned to export 4 million barrels of oil per day in 2014 and 4 million and a half million barrels per day in 2015, but the security conditions have prevented the achievement of it. "
    He said: "The delay in approving the budget in 2014 led to the suspension of the implementation of many of the service projects and strategy in the country, in addition to increasing the budget deficit to the large amounts of difficult to repay," pointing out that "the Iraqi economy is going through a critical phase and the government to pay attention to in order to prevent the occurrence of future problems for Athmd Akbaha. "
    For its part, confirmed that a member of the Finance Committee MP Najiba Najib, said the decline in world oil prices will affect the Iraqi economy based on oil revenues, warning of the occurrence of economic problems in the event of continuing decline in world oil prices.
    She said Najib told / JD /: "The Iraqi economy is still dependent on oil revenues to pay financial expenses due to lack of activation of other productive sectors that can be parallel to the oil sector and the agricultural Kalsnaaa."
    She pointed out: that the central bank maintained the exchange rate of the dinar against the dollar despite the drop in oil prices as well as the security conditions in the country, "emphasizing that" the central bank to remain conservative on the price of the dinar and take proactive measures to prevent any situation that could affect it in the future ".
    The Iraqi Oil Ministry has announced a reduction of oil exports in the recent past months, especially in June and July and August.
    Have revealed the head of the parliamentary finance committee Magda al-Tamimi, Iraq will pass a financial crisis within the next two months if I passed the budget as presented by the Council of Ministers because the ratio of the deficit has reached to more than 45 trillion dinars because of the recent spending. 
    Tamimi stressed on the cancellation of excess expenditure of the ministries and the three presidencies as they enter the country in a financial crisis may overwhelm the economic situation in the country, warning of recessions in the event of failure to take necessary measures by the Iraqi government. / Finished / 8 /

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