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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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    The credit rating agency expects the growth of Iraq's economy 8% over 4 years

    day dreamer
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    The credit rating agency expects the growth of Iraq's economy 8% over 4 years Empty The credit rating agency expects the growth of Iraq's economy 8% over 4 years

    Post by day dreamer Mon 21 Sep 2015, 4:24 pm

    09/22/2015 (00:01 pm)



    [ltr] The credit rating agency expects the growth of Iraq's economy 8% over 4 years [/ltr]


     Baghdad / term

    [ltr] I expected the agency «Moody» credit rating, to increase Iraq's oil production at a rate of 10% annually to reach about 5 million barrels a day by 2019, in conjunction with the non-oil growth from 2016 recovery onwards, and this will help to raise real GDP growth rate to about 8% a year between 2016 and 2019.
     She «Moody» in a statement on Monday and seen by the "long" that the Iraqi economy suffers from a lack of diversification, where oil accounts for 50% of GDP, and nearly 100% of exports, as the public sector is dominated by the non-oil sector, where manufacturing and construction form only 10% of GDP last year. Last year also, real GDP in Iraq fell by 2.1%, driven by a sharp contraction in the non-oil growth, while oil production has continued to grow by about 4.5%.
    Iraq and damaged government revenue because of lower oil prices since the middle of last year, where oil accounts for about 90% of total revenue. «Moody» expects that the Iraq government revenues fall by 35% this year, compared with last year, bringing the budget deficit to 18% of GDP.
    Despite the growth of oil exports in Iraq, probably in 2016, the fiscal deficit will remain at about 15% of GDP, according to a statement (Moody's). 
    Says «Moody» that would finance this deficit to raise the government's debt ratio to about 79% of GDP by the end of 2016 and expects «Moody», retreating government debt Iraq ratio at a later time, to less than 70% of GDP GDP in 2019 thanks to high oil prices and production, however, government revenues will continue to be vulnerable to oil price fluctuations.
    According to statistical review issued by the «BBC» company for the global energy situation in the world, which for the current year, Iraq's proven oil reserves stood at 150 billion barrels in 2014, occupies the fifth place in the world, accounting for 8.8% of the world's proven reserves.




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