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Moody's": Iraq's oil production rise 10% by 2019
September 21, 2015 13:40
Direct: the agency "Moody's" credit rating predicted rise in Iraq's oil production by 10% per year for up to about 5 million barrels a day by 2019, with non-oil growth from 2016 recovery and beyond and this will help to raise real GDP growth rate to about 8 % per year between 2016 and 2019.
It said Moody's in a statement on her official web site that the Iraqi economy suffers lack of diversification and oil accounts for 50% of GDP, and almost 100% of exports, as well as the public sector dominated the non-oil sector, and the form of manufacturing and construction only 10% of GDP in 2014.
Moody's expects that the decline in government revenues in Iraq for 2015 by 35%, compared to 2014, and that the budget deficit rises to 18% of GDP, despite the growth of oil exports in Iraq, probably in 2016, the fiscal deficit will remain at about 15% of GDP.
And on the financing of the deficit will raise the government's debt to about 79% of GDP by the end of 2016, but Moody's predicted to decline to less than 70% of GDP in 2019, with high oil prices and production, but will remain in government revenues vulnerable to fluctuations Oil.
Moody's said, they were given temporary rated government bonds to be issued in dollars at Caa1, meaning a high degree of risk, but gave a stable outlook.
Where Iraq is planning an international bond issue worth $ 6 billion, for the first time in 9 years, to finance the budget deficit, and declines in oil prices, as well as its war against al Daash.
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September 21, 2015 13:40
Direct: the agency "Moody's" credit rating predicted rise in Iraq's oil production by 10% per year for up to about 5 million barrels a day by 2019, with non-oil growth from 2016 recovery and beyond and this will help to raise real GDP growth rate to about 8 % per year between 2016 and 2019.
It said Moody's in a statement on her official web site that the Iraqi economy suffers lack of diversification and oil accounts for 50% of GDP, and almost 100% of exports, as well as the public sector dominated the non-oil sector, and the form of manufacturing and construction only 10% of GDP in 2014.
Moody's expects that the decline in government revenues in Iraq for 2015 by 35%, compared to 2014, and that the budget deficit rises to 18% of GDP, despite the growth of oil exports in Iraq, probably in 2016, the fiscal deficit will remain at about 15% of GDP.
And on the financing of the deficit will raise the government's debt to about 79% of GDP by the end of 2016, but Moody's predicted to decline to less than 70% of GDP in 2019, with high oil prices and production, but will remain in government revenues vulnerable to fluctuations Oil.
Moody's said, they were given temporary rated government bonds to be issued in dollars at Caa1, meaning a high degree of risk, but gave a stable outlook.
Where Iraq is planning an international bond issue worth $ 6 billion, for the first time in 9 years, to finance the budget deficit, and declines in oil prices, as well as its war against al Daash.
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