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Experts: We are optimistic about the country's financial situation
The first 03/05/2024
Baghdad: Huda Al-Azzawi
Specialists in financial and economic affairs expressed their optimism about the future outlook for the country’s financial situation, and while they saw that
Prime Minister Muhammad Shiaa Al-Sudani’s statement regarding this aspect and the overall economic file is correct and consistent with reality,
they called for the continuation of steps to leave the unilateral rentier economy to a productive economy.
Advisor to the Prime Minister for Financial and Economic Affairs, Dr. Mazhar Muhammad Salih, said in an interview with “Al-Sabah”:
The basis comes from the strength of the foreign asset reserves that Iraq possesses, which exceeded 100 billion dollars, which is the cover of the national currency,
which means that there is complete coverage of cash.
The national source of foreign currency, which provides ideal stability for the exchange rate of the Iraqi dinar, in addition to the fact that
these foreign reserves embody the commercial efficiency of Iraq, as
these reserves cover more than 15 commercial months, while
the international standard is only three months.” He added,
"We must not forget that the surplus in the current account of the balance of payments relative to the gross domestic product also did not fall below (positive 8%), which is a high indicator that reflects the strength of the external sector in the national economy, that is, its stability and growth." He pointed out that
"the real growth rate in Iraq's non-oil gross domestic product has touched (6%), and
it reflects the growth of the activities of important sectors, most notably the reconstruction, construction and housing movement, and the development of the transport and digital communications sector, and
there is a continuing movement in developing the agricultural sector thanks to government support for crops."
We expect Iraq’s grain production in the next few months to reach 6 million tons.”
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The first 03/05/2024
Baghdad: Huda Al-Azzawi
Specialists in financial and economic affairs expressed their optimism about the future outlook for the country’s financial situation, and while they saw that
Prime Minister Muhammad Shiaa Al-Sudani’s statement regarding this aspect and the overall economic file is correct and consistent with reality,
they called for the continuation of steps to leave the unilateral rentier economy to a productive economy.
Advisor to the Prime Minister for Financial and Economic Affairs, Dr. Mazhar Muhammad Salih, said in an interview with “Al-Sabah”:
The basis comes from the strength of the foreign asset reserves that Iraq possesses, which exceeded 100 billion dollars, which is the cover of the national currency,
which means that there is complete coverage of cash.
The national source of foreign currency, which provides ideal stability for the exchange rate of the Iraqi dinar, in addition to the fact that
these foreign reserves embody the commercial efficiency of Iraq, as
these reserves cover more than 15 commercial months, while
the international standard is only three months.” He added,
"We must not forget that the surplus in the current account of the balance of payments relative to the gross domestic product also did not fall below (positive 8%), which is a high indicator that reflects the strength of the external sector in the national economy, that is, its stability and growth." He pointed out that
"the real growth rate in Iraq's non-oil gross domestic product has touched (6%), and
it reflects the growth of the activities of important sectors, most notably the reconstruction, construction and housing movement, and the development of the transport and digital communications sector, and
there is a continuing movement in developing the agricultural sector thanks to government support for crops."
We expect Iraq’s grain production in the next few months to reach 6 million tons.”
[You must be registered and logged in to see this link.]
