World Bank expects the growth of the Iraqi economy during 2016 by about 3.1%
Baghdad / Ibrahim Ibrahim, long-Presse
The World Bank said in a report, received a (long-Presse) a copy of it, "The growth rate in developing Middle East countries and North Africa continued at 2.5% in 2015," noting that "the accelerated pace activity in most oil-importing countries compensated for the slowdown in activity in the oil-exporting countries.
"The report added that" the decline in oil prices helped most oil-importing countries, to support the demand and allowed the government to reduce fuel subsidies, "pointing to the" production and low investment in the oil sector and in the most Oil-exporting countries, with the sharp decline in oil prices since mid-2014, and subjected the Libyan economy to more pressure as a result of the ongoing conflict.
"promised to sign the report on the common" comprehensive action plan agreement "to impose restrictions on Iran's nuclear program from the" Pivot developments in the region "asserting that" the renewed optimism about the possible effects on the Iranian economy was born a great deal of interest among international investors.
"The report emphasized that" the absence of references to the decline of the effects of conflict witnessed in the Middle East and North Africa in 2015, "noting that "the number of people who left their country because of the conflict unprecedented".
The report predicted that "recovering growth in Iraq to 3.1% in 2016, after reaching 0.5% in 2015," attributing it to "the recovery of oil sectors and non-oil".
The report "The spending cuts will help to reduce the public budget deficit," explaining that "those predictions are based on the presumption of diminished economic impacts resulting from the emergence of (Daash)."
The report is likely to "increase the rate of growth in the Middle East and North Africa region to 5.1% in 2016, After the suspension or lifting of sanctions economic imposed on Iran, which will allow it to play a greater role in global energy markets, "expected to" grow the Iranian economy strongly to record 5.8% compared with 1.9% in 2015, in the case of Iran has fulfilled its obligations under the agreement.
"According to forecasts report that "Egypt will witness a moderate growth of 3.8% in the fiscal year ending in June 2016, compared with 4.2% in the fiscal year that ended in June 2015," warning of "serious risks may be exposed to the region due to the possibility of escalation of conflicts, and the continued decline oil prices, and the failure to improve living conditions.
"The report promised that" could trigger social unrest, "asserting that" the continuing conflict has inflicted serious damage to economic activity in Iraq, Libya, Syria, Yemen and the Republic as a result of the loss of life, and the departure of skilled workers, and the destruction of infrastruc- infrastructure and impeding the movement of trade. "The report continued that" countries that do not suffer from conflicts also faces challenges due to the impact of security risks and uncertainty of the political situation in the confidence of consumers, businesses and investors, after Egypt witnessed two governments in the second half of 2015, and the absence of a president for Lebanon Since 2014 ". The report also pointed out that" the terrorist attacks on tourists in Egypt and Tunisia in 2015 damaged the tourism sector ", stressing that" the depletion of flows of hard currency in Egypt from the introduction of the tourism sector in the recession, will lead to a weakening of growth, increasing shortage of currency foreign ". The report concluded that "the labor market situation in the region has worsened in comparison with other developing regions, have not improved since the Arab Spring uprisings," revealing "the arrival of the unemployment rate in Algeria, Egypt, Morocco and Tunisia to the highest of levels in 2010", he returned to "This may contribute to social unrest." For his part, economist Mohammed Abdul Latif Al-Ani said in an interview for the "long", that "economics general sense stems from the fact analysis and not the figures positioned optimistic always also refers Organization report located away from Iraq called the World Bank. "He added that" the growth of the Iraqi economy by 3.1% during the current year is a fantasy of what is going through the country from the financial hardship that could lead to its collapse if not treated in accordance with the real-time data, which makes it imperative for the government trend to impose actual austerity regime is consistent with its resources monthly from the sale of oil. "He said al-Ani said" the report pointed to the recovery of Iraqi oil sectors, and this is not true absolutely because of the reluctance of most government projects that adhered to in accordance with the licensing rounds and the most important provision of infrastructure of pipelines and ports Alkhoznip oil produced by foreign companies. " He said the "government has been unable so far to find alternatives to oil to strengthen its financial resources, and it seems clear according to ill-considered steps taken recently by which deducted under which employees and retirees who represent the most important economic fabric of society salaries and through the development of their financial resources can calculate the growth of the economy of proportion country. "Hesaid al-Ani said" there are economic benefits to most financial crises experienced by the countries through strengthening the role of local sectors such as industry, agriculture, and reduce production costs and reliance on national will to develop and sustain the construction and reconstruction momentum, the former international experiences clearly indicate so. "He added that" some of the world's economic reports for the government to relax without the development of appropriate financial crises solutions, so the Iraqi government response to the crisis by fast includes a reduction in spending and activating the control of the money exchange operations and increasing the incomes of ministries according to Traa laws guarantee some of which turned self-financing and support for foreign investment. "