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Thread: International Monetary Fund: Iraq's economy has declined and its reserves have fallen to 45 billion dollars

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    Default International Monetary Fund: Iraq's economy has declined and its reserves have fallen to 45 billion dollars


    International Monetary Fund: Iraq's economy has declined and its reserves have fallen to 45 billion dollars
    08/10/2017


    The International Monetary Fund considers that Iraq is currently facing a dual economic challenge of compensating for the material losses caused by the war against Daqash, as well as the decline in oil production and prices.

    The IMF said in a report on Wednesday that in 2016 real GDP of Iraq rose by 11 percent, as a result of a rise of 25 percent in oil production, "which was not significantly affected by the conflict with [Da'sh] at the time."

    The report added that it expects economic activity this year to see no increase due to a 1.5% decline in oil production due to Iraq's commitment to the agreement of the oil exporting countries from [OPEC] and beyond to reduce the level of production and also because of the very modest recovery of non-oil sectors.

    He pointed out that "the decline in oil prices led to a decline in Iraq's foreign currency reserves from 54 billion US dollars by the end of 2015 to 45 billion at the end of 2016, saying that" the financial pressure continued as the government deficit increased to 14 percent of GDP in 2016 after It was 12 percent in 2015. "

    However, the outlook for medium-term growth appears to be positive due to the expected improvement in the security situation and readiness to implement several infrastructure projects, although the risks remain high due to continuing security and political tensions, the IMF said.


    Kuwait has been in contact for a long time with the countries of the world, the World Bank and Iraq itself to prepare to host a conference donors for the reconstruction of liberated areas of Iraq, which may be held in the first quarter of ne
    xt year.

    http://uruknews.net/index.php/%D8%A7...%A9/16232.html

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    Default Re: International Monetary Fund: Iraq's economy has declined and its reserves have fallen to 45 billion dollars


    The parliamentary economy: The government spent $ 32 billion from the central bank to cover the war

    08/10/2017

    confirmed member of the Committee onEconomy and Investment Parliamentary Najiba Najib, on Thursday, the government scrounge from the Central Bank of Iraq $ 32 billion to cover the military needs in thewar against the "Daesh", indicating that therise in oil prices and dependence on non -oil revenues will pay the government 'sdebt to the bank.

    Najib said in a press statement that "the financial crisis suffocating the country, as a result of the collapse of oil prices and drainage on the war against Daash, made the government in a difficult situation and the need to borrow funds from the Central Bank," noting that "the government was removed from the Central Bank 32 Billion dollars to cover state treasury bonds. "

    She added that "77 billion dollars, is the Iraqi reserve funds, but the consumption brought it down to 45," noting that "the improvement of oil prices and the arrival of the barrel to $ 50, and reduce expenditures, and the adoption of the policy of raising revenue through non-oil products, Reserve funds, which are considered funds belonging to Iraqis. "


    The International Monetary Fund, considered in a report released on Wednesday, that Iraq is currently facing a dual economic challenge is to compensate for material losses resulting from the war against Daqash, as well as the decline in production and oil prices, noting that the decline of Iraq's foreign exchange reserves of $ 54 billion At the end of 2015 to 45 billion at the end of 2016.

    http://www.knoozmedia.com/245247/%D8...9%86-%D8%A7-3/




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