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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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    Iraq spends 72% of the oil money on indiscriminate import

    Rocky
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    Iraq spends 72% of the oil money on indiscriminate import Empty Iraq spends 72% of the oil money on indiscriminate import

    Post by Rocky Thu 22 Dec 2016, 1:48 am

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    Iraq spends 72% of the oil money on indiscriminate import


     Baghdad / peace Zidane 

    Significant damage to the Iraqi economy during the past years due to the indiscriminate import of goods by the private sector in the country which led to the disruption of productive sectors such as industry, agriculture and services. 
     
    According to the balance of payments, seen by the "long", the balance during the period 2003-2015 saw a surplus of $ 192 billion , with exports valued at $ 667 billion, mostly from oil , while imports amounted to $ 475 billion worth of goods included 189.7 billion dollars for the purchase of cars. 
    Economist, Ahmed Bureihi occur "long", " The volume of imports in Iraq more than $ 475 billion because this figure represents the country 's importation of goods and when the addition Asterad services of tourism, treatment and study of students outside the country and the shipment of goods and cargo insurance will be more of this thing , "noting that" these imports represent food, consumer durables and electrical materials in addition to the public sector imports related to drugs and others. " 
    A member of the Board of the Central Bank 's management that "no country in the world is striving to reduce imports , especially the growth of imports of new GDP in the world with a 160% but you must compensate for the imports to be able to import goods other , " stressing that " the high volume of imports naturally and especially that the balance of payments was experiencing a surplus in the last period, adding to the central bank foreign currency reserves , which now benefit the country. " 
    And it appears in the balance of payments that the country imported goods worth 72% of the money that entered the country through the export of oil and this shows very clear and significant imbalance in the balance. 
    For his part, the Director of the Economic Media Center, Durgham Muhammad Ali, "long", said that " the Iraqi trade balance suffered a major disruption because it relies almost completely on the import of all goods and services in the national industry accounts for only a small part , " noting that " Item is the main exporter of crude oil , a natural wealth is manufactured , so the figure of imports is a fundamental flaw in the development of the country , which have fallen to very low levels in the industrial and agricultural sectors and non - oil sectors. " 
    He added that "there are a large part of the Iraqi imports related to the smuggling of the dollar abroad through import licenses under which funds to prevent the entry of goods , " noting that " the majority of the amounts of imports diverted as the import but did not import any goods only was the money transfer out of the country and poses this the amount of more than half of Iraq 's total revenue. " 
    Iraqi economy shifted after 2003 from a centralized economy to a free economy and become an industry 2% of GDP , while agriculture accounted for 7% of GDP , the World Bank says that the size of the gross domestic product of Iraq has 168.6 billion dollars. 
    , The head of the Iraqi Federation of Industries, Ali al - Saadi said: "90 percent of industrial projects disabled in Iraq because of the great neglect suffered by the industry of the absence of power cuts and lack of activation for the protection of the local product , including laws customs tariff and consumer protection and product during the past period as well to indiscriminate importation. " 
    He added that " the Iraqi state if it focused on the industry, we Astgnina for many goods imported by the country which is not identical to the Iraqi specification , " pointing out that " the industry needs to a great effort by the state , especially after the approval of the launch of small, medium and large loans to support the industry and agriculture sectors . " .

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