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OPEC output agreement paves the way for the Iraqi economy and austerity cycle of debt
Baghdad / long-Presse
2016 saw a number of important economic events that have affected the decisions of the state in general , including an economic program with the International Monetary Fund to borrow $ 15 billion signed during the coming years , in addition to Iraq 's agreement to reduce its oil production, according to OPEC 's agreement. And consequently , the most prominent economic events in the country during the 2016
fiscal deficit and borrowing against the terms of
the 2016 Economic began his bad financial budget of more than 105 trillion Iraqi dinars and a deficit of about 30 trillion dinars, after falling oil prices continues, that the Iraqi government estimated price Brmelh in its budget to $ 45, but those prices were not realistic, prompting the government to resort to external borrowing.
May of 2016 saw the approval of the International Monetary Fund, to lend Iraq $ 15 billion to meet the financial needs and over five years, and got Iraq on the part of these loans amounted to the first phase of $ 6.5 billion, it is supposed to act to reduce the deficit for service projects vital necessary.
Oil ... financial resource orphan
Baghdad continued during 2016 its efforts to raise its oil production to compensate for the deterioration of prices so as to ensure their employees ' salaries and the basic needs of the country, but last year set a record in the export of oil, reaching 4,000,051 thousand barrels.
Gas Export ... "achievement" economic "late"
Although it represents the economic importance and the threat of the need for the country needs, but that the Iraqi gas under Mahdora for a long time to come a step exported as "economic achievement" as described by experts and specialists even with being "too late, and the Iraqi oil Ministry issued 13 shipment of gas condensate through the port of Khor Al - Zubair, confirmed the Ministry of oil in July, to be Iraq 's production of gas will double in the framework of the sixth Development plan of the Ministry, indicating that gas production will reach about 1.2 billion meters cube.
Industry ... initiatives "shy" Aahtmha imported
under the industrial sector is suffering "paralysis" almost complete during 2016 and attributed the Minister of Industry and minerals agency Mohamed Soudani Xiaa, the causes of the failure and the reluctance of companies in the ministry to manage the former minister to her, and pointed out that the number of companies lagging at the ministry arrived in 55 companies, and the Ministry of Industry and minerals announced last June, achieving the State Company for Iraqi cement major development in the production and sales levels, showed that the Iraqi cement sales during the five months amounted to 71 billion Iraqi dinars.
Agriculture ... Gaza does not sing nor fattening of "hunger"
agricultural sector was not the best off than his counterpart industrial where still crops and animal products do not cover the country 's needs, as well as rival imported products, where the ministry called for early 2016, to protect their products, as pointed to the launch of loans worth one trillion and 650 billion dinars provided by the central bank by the ACB, in exchange for the continued suffering of the peasants, the most prominent delayed dues for their crops.
Iraq 's need for animal products in 2016 amounted , according to ministry estimates, 250,000 tons in 2016 while domestic production amounted to 84,000 tons, while the announced self - sufficiency of dates this year to produce about 850,000 tons this year.
Iraq Stock Exchange
in 2016 witnessed trading trillion shares worth 522 billion dinars , up 67% compared to 2015, according to the announcement Iraq Stock Exchange, where he confirmed the organization of 234 's trading session this year, referring to the registration of variation in the indicators since the end of last year until November of 2016.
border crossings revenues
in spite of the application of the customs tariff system , however , imports of border crossings is still below the minimum acceptable levels, in December, announced that the border crossing points at the Interior Ministry Directorate, that the financial revenue has amounted to more than 161 billion dinars during the 10 months of the current year.
2017 budget
succeeded the House of Representatives, in the 7 December 2016, the approval of the general budget for the next Act in 2017 , worth about 100 trillion dinars and a deficit of 21 trillion dinars, before ending the first legislative term.
"OPEC" ... concludes in "austerity" and revive hopes
agreed that members of the organization "OPEC" to reduce oil production for the first time since 2008, in the 30 November 2016. The agreement of the leading global economic events, and text to reduce output by 1.2 million barrels a day to the Member States, also found "cartel" to deal with the 11 - nation oil producers outside the organization to cut its oil production at a rate of 558 thousand barrels per day, starting from the first of January 2017.
According to OPEC 's agreement would have to be on Iraq, which the second largest producer in theOrganization, to reduce its production by about 210 thousand Sprmel per day to 4.351 million barrels per day, while Iraq affirmed his commitment to the agreement in an effort to support oil prices.
fiscal deficit and borrowing against the terms of
the 2016 Economic began his bad financial budget of more than 105 trillion Iraqi dinars and a deficit of about 30 trillion dinars, after falling oil prices continues, that the Iraqi government estimated price Brmelh in its budget to $ 45, but those prices were not realistic, prompting the government to resort to external borrowing.
May of 2016 saw the approval of the International Monetary Fund, to lend Iraq $ 15 billion to meet the financial needs and over five years, and got Iraq on the part of these loans amounted to the first phase of $ 6.5 billion, it is supposed to act to reduce the deficit for service projects vital necessary.
Oil ... financial resource orphan
Baghdad continued during 2016 its efforts to raise its oil production to compensate for the deterioration of prices so as to ensure their employees ' salaries and the basic needs of the country, but last year set a record in the export of oil, reaching 4,000,051 thousand barrels.
Gas Export ... "achievement" economic "late"
Although it represents the economic importance and the threat of the need for the country needs, but that the Iraqi gas under Mahdora for a long time to come a step exported as "economic achievement" as described by experts and specialists even with being "too late, and the Iraqi oil Ministry issued 13 shipment of gas condensate through the port of Khor Al - Zubair, confirmed the Ministry of oil in July, to be Iraq 's production of gas will double in the framework of the sixth Development plan of the Ministry, indicating that gas production will reach about 1.2 billion meters cube.
Industry ... initiatives "shy" Aahtmha imported
under the industrial sector is suffering "paralysis" almost complete during 2016 and attributed the Minister of Industry and minerals agency Mohamed Soudani Xiaa, the causes of the failure and the reluctance of companies in the ministry to manage the former minister to her, and pointed out that the number of companies lagging at the ministry arrived in 55 companies, and the Ministry of Industry and minerals announced last June, achieving the State Company for Iraqi cement major development in the production and sales levels, showed that the Iraqi cement sales during the five months amounted to 71 billion Iraqi dinars.
Agriculture ... Gaza does not sing nor fattening of "hunger"
agricultural sector was not the best off than his counterpart industrial where still crops and animal products do not cover the country 's needs, as well as rival imported products, where the ministry called for early 2016, to protect their products, as pointed to the launch of loans worth one trillion and 650 billion dinars provided by the central bank by the ACB, in exchange for the continued suffering of the peasants, the most prominent delayed dues for their crops.
Iraq 's need for animal products in 2016 amounted , according to ministry estimates, 250,000 tons in 2016 while domestic production amounted to 84,000 tons, while the announced self - sufficiency of dates this year to produce about 850,000 tons this year.
Iraq Stock Exchange
in 2016 witnessed trading trillion shares worth 522 billion dinars , up 67% compared to 2015, according to the announcement Iraq Stock Exchange, where he confirmed the organization of 234 's trading session this year, referring to the registration of variation in the indicators since the end of last year until November of 2016.
border crossings revenues
in spite of the application of the customs tariff system , however , imports of border crossings is still below the minimum acceptable levels, in December, announced that the border crossing points at the Interior Ministry Directorate, that the financial revenue has amounted to more than 161 billion dinars during the 10 months of the current year.
2017 budget
succeeded the House of Representatives, in the 7 December 2016, the approval of the general budget for the next Act in 2017 , worth about 100 trillion dinars and a deficit of 21 trillion dinars, before ending the first legislative term.
"OPEC" ... concludes in "austerity" and revive hopes
agreed that members of the organization "OPEC" to reduce oil production for the first time since 2008, in the 30 November 2016. The agreement of the leading global economic events, and text to reduce output by 1.2 million barrels a day to the Member States, also found "cartel" to deal with the 11 - nation oil producers outside the organization to cut its oil production at a rate of 558 thousand barrels per day, starting from the first of January 2017.
According to OPEC 's agreement would have to be on Iraq, which the second largest producer in theOrganization, to reduce its production by about 210 thousand Sprmel per day to 4.351 million barrels per day, while Iraq affirmed his commitment to the agreement in an effort to support oil prices.
http://almadapaper.net/ar/news/522215/%D8%A7%D8%AA%D9%81%D8%A7%D9%82-%D8%A3%D9%88%D8%A8%D9%83-%D9%8A%D9%85%D9%87%D8%AF-%D9%84%D8%A5%D8%AE%D8%B1%D8%A7%D8%AC-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-
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