Is Iraq will declare bankruptcy? Um collapse model rentier economy?
Opening - Adel Abdul Mahdi - 12:10 - 03/17/2016
In 1998 at the invitation of the Iraqis forum economist in London, he presented a lecture titled "Agriculture permanent oil." As I remember, ran a lecture by Dr. Shabibi, and was attended by a group of leading economists Iraqis of them, with the conservation of titles, the late Abbas Nasraoui, Salah al - Shaikhly, Saad Abdul Razak and Falah al - Amiri and Shaker nice and Ali Hantoush full Abbas Mahdi and Mohammed Kubba and dozens of specialized characters .. said in a lecture that Iraq if the company declared bankruptcy .. How to A..walnaft became subject to the "oil - for - food" .., agriculture and industry agreement in the worst conditions .. and the number of staff and retired approximately 1.5 million citizens .. and oil production in that year 2 M.b.a, cut into from 30% to pay compensation Kuwait , the United Nations and expenses, and go 550-600 thousand barrels of consumption Mahla..omistoy annual income per capita has collapsed, reaching $ 400 / person / year, and the hearts of the country , the day is about 25 million people (statistics absent that day) .. and debt Foreign more than 120 billion dollars .. and no reserves of the central bank and state treasury empty .. and the value of the dinar collapsed about 1000% compared to the dollar, and is now dealing with weight .. and the employee 's wage university professor about 6,000 dinars, Aa2-3 dollars .. and received by retired less from taxi transport to pick it up .. and goods missing, the vast majority rely ration card .. Did we forget that? Nevertheless, Iraq did not declare bankruptcy, because it is not a company but a state, and the states do not declare bankruptcy .. Yet people lived and overstayed difficulties. Some of those days may recall the sweetness of control, and strive to manage its affairs .. so he headed each for agriculture and craft and profession Venctt something .. and began the minds of people sprout for solutions to their problems, and excelled in many things, resisted by physical difficulties and harsh conditions.
If Iraq did not bankrupt the day, how Savels today? National GDP estimates , "IMF" and "World Bank" for 2015 is $ 522 billion annually, prices , purchasing power (Purchase power parity (PPP ranking No. 37 worldwide, and per capita of $ 14,571 / year, ranking No. 88 worldwide .. and at current prices of 240 billion dollars for the national output , ranking 47th globally, and $ 6491 / year / per capita, ranking No. 88 worldwide .. and the number of employees and retirees 7 million citizens .. and reserves the central bank is still sound and high .. and still Iraq 's oil exported an average of 3.4 billion dollars a month depending on oil prices, and will receive about $ 5.8 billion a month at current rates of export, if the price has stabilized at $ 45 / barrel, without the Kurdistan account .. and no monetary mass , however , people outside banks more than 30 billion dollars .. and the same in banks .. and operating in the country hundreds of foreign companies and thousands of Iraqi companies .. and there are 35-37 million subscribers in mobile phones, an average of six phones per family, as one of the indicators of the fact that living standards.
Yes rapid and violent fall in oil prices revealed the fragility of the economic system, in which the results of the collapse of the social balance standards and fairness, and the emergence of great economic difficulties, serious malformations are structural and a serious shortage of services and infrastructure .. the country has left itself dependent on oil .. When prices collapsed, it collapsed with basic equations .. collapsed possibilities to continue the policies of extravagance and waste and easy money and get income without work true, especially in the public sector, who work rate product which -hsp Aldrasat- 17 minutes / day, which means standards (wages / work) Salaries in Iraq is one of the world 's largest crowd .. I went to him, and this is normal, people go for more cost - effective and least effort, Vtdkhmt State Trhilt and become operational budgets consume the bulk of the state budget, fully bonded oil prices.
revolves unskilled wage in the Iraqi market rate of about 25-30 thousand dinars / day, equivalent to $ 20-25 / day. . , and in accordance with an average of 25 days per month would mean financial resource around US $ 500-625 per month .. Suffice compared it to employment of foreign unskilled exotic for Iraq, which is contracted to half of these amounts, one to realize that the crisis is not a crisis of bankruptcy and salaries are even crisis rentier model of the economy failed, and lifestyles and work provided by .. and ambitions and goals that lead to it .. and divisions, corruption and conflict generated.
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