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Abadi adviser: Iraq faces an economic contraction and recession
25/5/2015
BAGHDAD
Economic Adviser to the Prime Minister, the appearance of Mohammed Saleh felt that the current situation in Iraq is facing a contraction or recession,. He said in a press release, "The monetary policy in Iraq is a means and a package of measures taken by the government in order to achieve the dual goals of price stability and raise the level of use to sustain economic growth, stressing that the current situation in Iraq is in contraction or recession as well as the high unemployment indicators in Kurdistan 30% and in the hot areas seized by Daash is a large either in the rest areas are approximately 24%. "He explained," that the indicators Economic growth in the gross domestic product in 2014 is 3.2%, while other important point is that the index of prices Fimaasmy inflation is 1.6 basis that there is no economic recession or contraction, "noting that" hierarchy completely differed between 2003 and 2013 as the policy It engaged cash after 2004 for inflation but today hierarchy intensified. " Saleh added that "the situation in Iraq has changed today the existence of corruption and recession and inflation and the Central Bank of Iraq has become a refuge for borrowing because most bank deposits at the central bank because of capital flight in 2006 and 2007," stressing "the central bank's policy at the present time dealt with inflation all but no unemployment and no deterioration in the economic growth. "He pointed out" that the central bank has provided support for the Iraqi economy in multiple directions, including 5 trillion to specialized banks (agricultural and industrial housing fund) and 6 trillion statutory reserve interest rate of 10%, which is remittances Khoznah, pointing out that " Iraqi Central Bank reserves come from the oil and hit the central bank's balance sheet 67% of the foreign and 3% of the local currency currency, where the reserve stood at $ 78 billion in 2013. "He continued," The monetary policy of the Central Bank currently is one of the best policies are balanced policy and rational, with the timing correct ".uan the central bank's relationship banks, Saleh stressed," It's still a tense relationship and the central bank monitors the liquidity of private banks, and these banks the cash-strapped noting that private banks constituted 32 banks out of 45 banks or more, "the To that predicted economist haven secretary, not a reflection of the decisions of the Dead Sea in a positive conference on Iraq because of the security challenges facing the country resulting from the war against terror Daash gangs, called on the government and security forces continue to address gangs and terrorist expelled from across the country and achieve victory readily the preparation of a sound economic environment. Amin said he would "not expected to be released by the World Economic Forum on the Middle East and North Africa in the conference currently being held in the Dead Sea any serious decision positive or on economic cooperation with Iraq although the Iraqi delegation includes Vice-President and Vice-Prime Minister and Chairman of the House of Representatives and the President of the Region Kurdistan and a number of ministers. "He added that" the security challenges that Iraq is going through and of the war against Daash gangs stand in the way of investment companies for the implementation of projects or involvement of government Almaossat and the private sector, "pointing out that" Iraq has enormous investment environment is agricultural Ppalarad and raw materials ( whether mineral Aoalehioanah Awalzeraih) involved in various types of industries as well as tourist sites and archaeological and other aspects of investment, but they are not attractive to investment companies because of the security challenges facing the country, ".otoqa secretary that" the global investment firms are flocking to Iraq after victories Asatrha our military the brave and the crowd and popular expel Daash gangs of all the cities of Iraq, as well as modifying some of the paragraphs in the investment law contribute to promoting heads money on the implementation of its projects in Iraq. "He said," The security forces heroine in all its different forms by the task of maintaining the recovered sites of Daash terrorist gangs and prevent their progress and continue to attack until we achieve victory Almazrboutrdhm of the country is irreversible, the second page and start a reconstruction of those sites to bring its economic life and make it attractive for work and investment and create a sound economic environment. "
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25/5/2015
BAGHDAD
Economic Adviser to the Prime Minister, the appearance of Mohammed Saleh felt that the current situation in Iraq is facing a contraction or recession,. He said in a press release, "The monetary policy in Iraq is a means and a package of measures taken by the government in order to achieve the dual goals of price stability and raise the level of use to sustain economic growth, stressing that the current situation in Iraq is in contraction or recession as well as the high unemployment indicators in Kurdistan 30% and in the hot areas seized by Daash is a large either in the rest areas are approximately 24%. "He explained," that the indicators Economic growth in the gross domestic product in 2014 is 3.2%, while other important point is that the index of prices Fimaasmy inflation is 1.6 basis that there is no economic recession or contraction, "noting that" hierarchy completely differed between 2003 and 2013 as the policy It engaged cash after 2004 for inflation but today hierarchy intensified. " Saleh added that "the situation in Iraq has changed today the existence of corruption and recession and inflation and the Central Bank of Iraq has become a refuge for borrowing because most bank deposits at the central bank because of capital flight in 2006 and 2007," stressing "the central bank's policy at the present time dealt with inflation all but no unemployment and no deterioration in the economic growth. "He pointed out" that the central bank has provided support for the Iraqi economy in multiple directions, including 5 trillion to specialized banks (agricultural and industrial housing fund) and 6 trillion statutory reserve interest rate of 10%, which is remittances Khoznah, pointing out that " Iraqi Central Bank reserves come from the oil and hit the central bank's balance sheet 67% of the foreign and 3% of the local currency currency, where the reserve stood at $ 78 billion in 2013. "He continued," The monetary policy of the Central Bank currently is one of the best policies are balanced policy and rational, with the timing correct ".uan the central bank's relationship banks, Saleh stressed," It's still a tense relationship and the central bank monitors the liquidity of private banks, and these banks the cash-strapped noting that private banks constituted 32 banks out of 45 banks or more, "the To that predicted economist haven secretary, not a reflection of the decisions of the Dead Sea in a positive conference on Iraq because of the security challenges facing the country resulting from the war against terror Daash gangs, called on the government and security forces continue to address gangs and terrorist expelled from across the country and achieve victory readily the preparation of a sound economic environment. Amin said he would "not expected to be released by the World Economic Forum on the Middle East and North Africa in the conference currently being held in the Dead Sea any serious decision positive or on economic cooperation with Iraq although the Iraqi delegation includes Vice-President and Vice-Prime Minister and Chairman of the House of Representatives and the President of the Region Kurdistan and a number of ministers. "He added that" the security challenges that Iraq is going through and of the war against Daash gangs stand in the way of investment companies for the implementation of projects or involvement of government Almaossat and the private sector, "pointing out that" Iraq has enormous investment environment is agricultural Ppalarad and raw materials ( whether mineral Aoalehioanah Awalzeraih) involved in various types of industries as well as tourist sites and archaeological and other aspects of investment, but they are not attractive to investment companies because of the security challenges facing the country, ".otoqa secretary that" the global investment firms are flocking to Iraq after victories Asatrha our military the brave and the crowd and popular expel Daash gangs of all the cities of Iraq, as well as modifying some of the paragraphs in the investment law contribute to promoting heads money on the implementation of its projects in Iraq. "He said," The security forces heroine in all its different forms by the task of maintaining the recovered sites of Daash terrorist gangs and prevent their progress and continue to attack until we achieve victory Almazrboutrdhm of the country is irreversible, the second page and start a reconstruction of those sites to bring its economic life and make it attractive for work and investment and create a sound economic environment. "
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