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International Monetary Fund: accelerated economic growth and «serious structural weaknesses in Iraq
03.23.2013 | (Voice of Iraq) - Add Comment - News Views: 5 -
WASHINGTON (AFP) - welcomed the IMF accelerated the pace of economic growth in Iraq thanks to oil exports, but expressed concern about the points «structural weaknesses seriously» accumulated there after ten years on the US-led invasion of the country in 2003.
IMF said in a statement issued in Washington yesterday evening after the conclusion of an assessment mission conducted in Iraq «Despite political and security environment is difficult, Iraq succeeded in maintaining the stability in terms of economic sectors in the last two years. He pointed out that record economic growth rate of 8% last year, and will see an acceleration greater this year to reach 9% driven by increased oil production, greater natural wealth in the country, despite the violence and financial and administrative corruption.
Iraq currently produces 3.15 million barrels of oil in Today, only 2.5 million barrels. The estimated reserves confirmed at about 143.1 billion barrels of crude oil a among the highest in the world.
saw the International Monetary Fund that the country, however, is still suffering from «structural weaknesses dangerous» in the field Alguetsada, especially high unemployment and a business climate that bad and weak sector Non-oil. He said «that Iraq should face significant challenges in the medium term to create a climate strong and lasting growth is necessary to improve the living conditions of the population. He called on the Iraqi authorities also to «strengthen the financial control mechanisms in order to ensure that oil revenues are used effectively and in a transparent manner. The "determination to continue" its cooperation with it after it ended previous help plan for Iraq worth U.S. $ 3.6 billion in February. Al Ittihad
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