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13/08/2011
Calls for diversification and hedging of global crises
BAGHDAD - Haider Flaih-Rubaie,
a majority of economic experts, the importance that Iraq could move towards activating the productive sectors other than oil, and they, as assert that they are at the same time point to economic risks large can result due to keep the economy is profit-taking, which depends primarily on oil imports to support Moisnath Finance, has urged the economists on the need to exploit Iraq's tens of thousands of unused land and arable, revealing that this sector of the utmost importance and the role of adults in reviving the reality of development in Iraq as well as its ability to reduce dependence on oil revenues,
and draws experts what can be vested with the U.S. financial crisis and its impact on the Iraqi economy, especially as oil prices began plummeting in world markets, which could seriously affect the financial budget for Iraq and works to block the implementation of dozens of development projects that have been developed within the shop drawings for the coming years ..
economic expert Adnan al-Obeidi called on the government to speed up the approval of a package of laws that work to revive aspects of other productivity that reduce dependence on oil as a single in support of the public budgets of the country, saying that this dependence is associated with the habit of vibrations economic world that can cast a shadow on the local economy due to falling oil prices globally, stressing the two sides of industrial and agricultural as the two sides of the rules allow them to production well, and al-Obeidi said in his speech told the (morning): Iraq has the agricultural land is fertile and water is not good to enable the occupation of advanced positions among agricultural producers in the region, but the Allanth Economic and dumping the commodity for local markets contributed significantly to the decline in agricultural production in the country as a result of low prices of imported materials and high production costs, which have become not match the nature of what can be sold in local markets because the low prices of imported ..
With the view of economists that the economic crisis the U.S. and Europe could have a negative impact on the GCC economies, Dr. and economic expert, Jamil al-Dabbagh said in his speech told the (morning) that the phenomenon of global recession that could benefit from importing countries, indicating that the global economy is a set of episodes that could affect the low international prices and therefore the usefulness of most importing countries, including Iraq ..
He said al-Dabbagh said the Iraqi economy isolated from global market in financial terms, is that oil prices could significantly affect its economy because it is the country of origin and is also aware of everyone and support this material up to 97 percent in support of its imports and the implementation of its projects Urban and strategy ..
and shows that the problems occurring in the international financial market, which is reflected on world oil markets will more or less on the Iraqi economy, both in reality and industrial or agricultural or services, Al-Dabbagh said the input of industry and agriculture in Iraq did not pose little or nothing to actually productive because they are still in the case of semi-recession, with a slight difference for the reality of services, especially communications that rely on trading cash foreign companies ..
Dabbagh said also: that Iraq is currently worried about a lot of the deterioration of oil prices that can directly affect the spending the government's internal, in other words that the consumer, not the product is will be affected by shocks of lower oil prices resulting from the deterioration of the actual value of the U.S. dollar ..
and the yolk-Dabbagh said the Iraqi economy will not be much affected by the state of recession as much as possible that benefited a little bit of them, illustrated that Iraq is still going on according to the economy closed, particularly in the monetary policy of the Central Bank, which is still close to the monetary policy contractionary ..
stressed Dabbagh importance to absorb the Iraq vibrations economic impact of fluctuating oil prices due to vibrations economic countries have the world's major , and work diligently to diversify its resources and multiple output ports, and not to keep what comes from imports through the sale of oil ..
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