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IMF: Iraq maintained the stability of its economy, despite the decline in oil prices and the budget deficit of 6%
Author: HA, HAA
Editor: HA twelve fifty 26.03.2014 Number of readings: 63
Long-Presse / Baghdad
International Monetary Fund announced on Wednesday that Iraq maintained the "economic stability" despite the drop in oil prices during the year 2013, and pointed out that the inflation rate dropped to 3.1%, and as he emphasized that the security situation has caused a deficit in the budget by about 6%, predicted increased activity Economic through the year 2014.
The head of the IMF mission in Iraq Carlo Sdralevij in a statement seen by (range Press), said that "Iraq has maintained its economic stability in 2013 despite low rates of oil production from the targets set," noting that "the ratio of the rate of economic growth remained solid at 4.2 percent, thanks to the non-oil sector activity, which contributed at a rate of 7%. "
He Sdralafj "The inflation rate in Iraq fell slightly to 3.1% after it was 3.6% during the year 2012 and this reflects the stability happening in the global prices of food and fuel," noting that "the exchange rate has remained stable with a high international reserves increased by seven billion dollars for up to 78 billion dollars at the end of 2013. "
The Chief of Mission of the International Fund in Iraq that "economic activity decree him to grow strongly during the year 2014 with an increase rate of GDP growth GDP of more than 6%, thanks to increased oil production, which amounted to 3.2 million barrels per day with in conjunction with the attainment oil exports to 2.6 million barrels per day, in spite of the non-oil activities affected by the security situation. "
The Sdralafj that "the reason for the lack of oil revenues for 2013 due to the security situation has led to a deficit in the budget reached 6 percent of economic growth rate of GDP of the country and this led to a decline in the budget of the Development Fund in the country during the year 2013, dropping from 18 billion to $ 6.5 billion dollars. "
The Sdralafj to "draft the new budget for the year 2014, the agreements contain huge in the areas of security sector and social assistance and pensions and financial transfers to the provinces," pointing out that "the need to reduce expenses set this in order to maintain the stability of the economic situation and to support economic projects big in the country which will maintain turn to social expenditures necessary. "
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Author: HA, HAA
Editor: HA twelve fifty 26.03.2014 Number of readings: 63
Long-Presse / Baghdad
International Monetary Fund announced on Wednesday that Iraq maintained the "economic stability" despite the drop in oil prices during the year 2013, and pointed out that the inflation rate dropped to 3.1%, and as he emphasized that the security situation has caused a deficit in the budget by about 6%, predicted increased activity Economic through the year 2014.
The head of the IMF mission in Iraq Carlo Sdralevij in a statement seen by (range Press), said that "Iraq has maintained its economic stability in 2013 despite low rates of oil production from the targets set," noting that "the ratio of the rate of economic growth remained solid at 4.2 percent, thanks to the non-oil sector activity, which contributed at a rate of 7%. "
He Sdralafj "The inflation rate in Iraq fell slightly to 3.1% after it was 3.6% during the year 2012 and this reflects the stability happening in the global prices of food and fuel," noting that "the exchange rate has remained stable with a high international reserves increased by seven billion dollars for up to 78 billion dollars at the end of 2013. "
The Chief of Mission of the International Fund in Iraq that "economic activity decree him to grow strongly during the year 2014 with an increase rate of GDP growth GDP of more than 6%, thanks to increased oil production, which amounted to 3.2 million barrels per day with in conjunction with the attainment oil exports to 2.6 million barrels per day, in spite of the non-oil activities affected by the security situation. "
The Sdralafj that "the reason for the lack of oil revenues for 2013 due to the security situation has led to a deficit in the budget reached 6 percent of economic growth rate of GDP of the country and this led to a decline in the budget of the Development Fund in the country during the year 2013, dropping from 18 billion to $ 6.5 billion dollars. "
The Sdralafj to "draft the new budget for the year 2014, the agreements contain huge in the areas of security sector and social assistance and pensions and financial transfers to the provinces," pointing out that "the need to reduce expenses set this in order to maintain the stability of the economic situation and to support economic projects big in the country which will maintain turn to social expenditures necessary. "
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