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Iraqis hear about oil revenues and do not see their benefits
03/20/2013
A quarter of Iraqis suffer from poverty and about a third of unemployment, and the size of the oil revenues, hampering efforts to 'diversify the economy' because of attempts to strengthen the currency.
Middle East Online
Price rises exacerbated by the inability to secure the basics
BAGHDAD - The Iraqi economy remarkable growth strengthens its government revenues. But Nuri morning, along with a lot of Iraqis who are suffering from poverty and lack of services, did not touch even in today's high rates of export of oil.
Nuri says that been in the vehicle door in eastern Baghdad sell all flow from the metal cutting machines "everything here cost much. You always have to pay money for anything."
He adds Nuri, who faces difficulty in securing enough money to pay his apartment rent and expenses eating, drinking and power generator "in other countries, there are services, and therefore, you have a job, run your affairs well."
And ask, "Where is the oil? Hear about the numbers, we do not see the benefits."
And the oil sector in Iraq, the sole survivor of the post-invasion period, which opened the doors of the country against terrorism and daily violence that has killed tens of thousands since March 20 / March 2003 and until today.
The result in Iraq, which has proven oil reserves estimated at 143 billion barrels, the third largest reserves in the world, more than 3.15 million barrels per day, and produces about 2.5 million barrels, according to figures from the Ministry of Oil.
Baghdad plans for a significant increase in export rates in the near future, and suggests the International Atomic Energy Agency that oil revenues in Iraq could end up at about five trillion dollars by the year 2035, and the country will become the largest financier of oil in the world over the years.
However, the complaint Nuri want to withdraw a large segment of Iraqis who suffers a quarter of poverty and about a third of unemployment, according to unofficial estimates.
They complain especially of oil, which is a cornerstone of the economy and the budget, does not contribute to the creation of new jobs, and is limited to only a small category of people around one percent of the labor force, according to UN figures.
So many Iraqis find themselves forced to search for jobs either in the public sector corruption and patronage-ridden, and either in the private sector too narrow.
Abboud says Hassan (48 years), who was working as an engineer in the Air Force and today sells remote controls "suffer from everything, and I do not have anything. All I want to do is to earn money in a dishonest manner."
And earns good about 820 thousand dinars (680 dollars) per month, which is barely enough to support his wife and five children.
The UN report last month that the size of Iraq's revenues from oil impede efforts to "diversify the economy" because of attempts to strengthen the currency makes exports less able to compete with imports.
The report considered that this matter limits the ability of the Iraqi economy to create new jobs and reduce poverty, pointing out that "this problem will increase with the rapid expansion of the oil sector in the coming years."
The Iraqi government plans to spend oil revenues on several projects, including apartment complexes near Baghdad and a football stadium in Basra airport in Najaf.
In parallel with the suffering of Nuri and his ilk, take root in the Iraqi capital, the principle of consumption at a time when the Baghdad boom in restaurants and commercial complexes and the possibility of selling luxury cars.
And beneficiaries of the boom, Azad Haddad, who recently returned to Iraq after he left the country at the beginning of the invasion ten years ago.
Haddad opened restaurant chain in the upscale Jadriya, quickly managed to attract customers who are swarming of the afternoon and into the evening.
Haddad says that work in Iraq, "a challenge in itself, but this is what sets it apart."
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03/20/2013
A quarter of Iraqis suffer from poverty and about a third of unemployment, and the size of the oil revenues, hampering efforts to 'diversify the economy' because of attempts to strengthen the currency.
Middle East Online
Price rises exacerbated by the inability to secure the basics
BAGHDAD - The Iraqi economy remarkable growth strengthens its government revenues. But Nuri morning, along with a lot of Iraqis who are suffering from poverty and lack of services, did not touch even in today's high rates of export of oil.
Nuri says that been in the vehicle door in eastern Baghdad sell all flow from the metal cutting machines "everything here cost much. You always have to pay money for anything."
He adds Nuri, who faces difficulty in securing enough money to pay his apartment rent and expenses eating, drinking and power generator "in other countries, there are services, and therefore, you have a job, run your affairs well."
And ask, "Where is the oil? Hear about the numbers, we do not see the benefits."
And the oil sector in Iraq, the sole survivor of the post-invasion period, which opened the doors of the country against terrorism and daily violence that has killed tens of thousands since March 20 / March 2003 and until today.
The result in Iraq, which has proven oil reserves estimated at 143 billion barrels, the third largest reserves in the world, more than 3.15 million barrels per day, and produces about 2.5 million barrels, according to figures from the Ministry of Oil.
Baghdad plans for a significant increase in export rates in the near future, and suggests the International Atomic Energy Agency that oil revenues in Iraq could end up at about five trillion dollars by the year 2035, and the country will become the largest financier of oil in the world over the years.
However, the complaint Nuri want to withdraw a large segment of Iraqis who suffers a quarter of poverty and about a third of unemployment, according to unofficial estimates.
They complain especially of oil, which is a cornerstone of the economy and the budget, does not contribute to the creation of new jobs, and is limited to only a small category of people around one percent of the labor force, according to UN figures.
So many Iraqis find themselves forced to search for jobs either in the public sector corruption and patronage-ridden, and either in the private sector too narrow.
Abboud says Hassan (48 years), who was working as an engineer in the Air Force and today sells remote controls "suffer from everything, and I do not have anything. All I want to do is to earn money in a dishonest manner."
And earns good about 820 thousand dinars (680 dollars) per month, which is barely enough to support his wife and five children.
The UN report last month that the size of Iraq's revenues from oil impede efforts to "diversify the economy" because of attempts to strengthen the currency makes exports less able to compete with imports.
The report considered that this matter limits the ability of the Iraqi economy to create new jobs and reduce poverty, pointing out that "this problem will increase with the rapid expansion of the oil sector in the coming years."
The Iraqi government plans to spend oil revenues on several projects, including apartment complexes near Baghdad and a football stadium in Basra airport in Najaf.
In parallel with the suffering of Nuri and his ilk, take root in the Iraqi capital, the principle of consumption at a time when the Baghdad boom in restaurants and commercial complexes and the possibility of selling luxury cars.
And beneficiaries of the boom, Azad Haddad, who recently returned to Iraq after he left the country at the beginning of the invasion ten years ago.
Haddad opened restaurant chain in the upscale Jadriya, quickly managed to attract customers who are swarming of the afternoon and into the evening.
Haddad says that work in Iraq, "a challenge in itself, but this is what sets it apart."
[You must be registered and logged in to see this link.]
