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Mon, April 28, 2014 18:51
Economic prospects for Iraq after the next election
BAGHDAD / translation Baghdadi News / .. with the survival of the Iraqi budget pending in Parliament, there is economic reforms crucial awaiting Iraq in the field of private sector impotent and infrastructure, and while it seems that the prospects of the Iraqi economy after the elections next Wednesday, will depend heavily on the oil factor, according to Mazkrth, Monday, Agence France-Presse in its
Iraq has one of the largest reserves in the global oil and gas field, which aims to promote the production of energy but significantly slow bureaucracy and poor infrastructure cause retracting back.
Compounding things is complicated by the ongoing conflict between the central government and the Kurdistan Regional Government, which sought to signing agreements for the export of oil companies, however, without the express permission of the central government.
Accounts of crude oil account for 90 percent of exports and government revenues in the country and 70 percent of gross domestic product, according to the IMF report, and in spite of invitations to Iraq the need to diversify its economy, but oil is still the focus of the reconstruction of the country after decades of conflict.
The director of the Eurasia Group consultancy for the Middle East and North Africa, the whole matter, that "Iraq Mainbga to focus on is the development of the economy more diversified and less dependent on oil production."
And works only one per cent of the workforce in Iraq in the oil sector, but this sector supports indirectly what Ayad and innumerable other sectors in the oil revenues, in particular, help to provide the salaries of the public sector.
At the same time, the private companies outside the oil sector complain about the aging of the Iraqi banking system with little availability of loans and antiquated laws that make it difficult to establish or maintain a business.
Also, rampant corruption and rising costs due to the lack of electricity also hold business administration in Iraq.
The World Bank report said that Iraq's economy suffers from structural weaknesses, it was noted that despite the progress and strong economic expansion, but not enough to make significant progress to eradicate poverty and exclusion.
The report added that "poor governance and the justice system and the inefficiency and asymmetric regulations and security issues have kept Iraq at the bottom of the list of rankings for doing business."
As said, a political science professor at the University of Mustansiriya Essam Alfeli "We did not reap the benefits of, or attract investment or establishment for the manufacture or cultivation of a real present," adding that "Unfortunately, the political elite has been over the years either lazy or did not find the solution or you do not have the ability on it. " Finished / 21 GS
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Economic prospects for Iraq after the next election
BAGHDAD / translation Baghdadi News / .. with the survival of the Iraqi budget pending in Parliament, there is economic reforms crucial awaiting Iraq in the field of private sector impotent and infrastructure, and while it seems that the prospects of the Iraqi economy after the elections next Wednesday, will depend heavily on the oil factor, according to Mazkrth, Monday, Agence France-Presse in its
Iraq has one of the largest reserves in the global oil and gas field, which aims to promote the production of energy but significantly slow bureaucracy and poor infrastructure cause retracting back.
Compounding things is complicated by the ongoing conflict between the central government and the Kurdistan Regional Government, which sought to signing agreements for the export of oil companies, however, without the express permission of the central government.
Accounts of crude oil account for 90 percent of exports and government revenues in the country and 70 percent of gross domestic product, according to the IMF report, and in spite of invitations to Iraq the need to diversify its economy, but oil is still the focus of the reconstruction of the country after decades of conflict.
The director of the Eurasia Group consultancy for the Middle East and North Africa, the whole matter, that "Iraq Mainbga to focus on is the development of the economy more diversified and less dependent on oil production."
And works only one per cent of the workforce in Iraq in the oil sector, but this sector supports indirectly what Ayad and innumerable other sectors in the oil revenues, in particular, help to provide the salaries of the public sector.
At the same time, the private companies outside the oil sector complain about the aging of the Iraqi banking system with little availability of loans and antiquated laws that make it difficult to establish or maintain a business.
Also, rampant corruption and rising costs due to the lack of electricity also hold business administration in Iraq.
The World Bank report said that Iraq's economy suffers from structural weaknesses, it was noted that despite the progress and strong economic expansion, but not enough to make significant progress to eradicate poverty and exclusion.
The report added that "poor governance and the justice system and the inefficiency and asymmetric regulations and security issues have kept Iraq at the bottom of the list of rankings for doing business."
As said, a political science professor at the University of Mustansiriya Essam Alfeli "We did not reap the benefits of, or attract investment or establishment for the manufacture or cultivation of a real present," adding that "Unfortunately, the political elite has been over the years either lazy or did not find the solution or you do not have the ability on it. " Finished / 21 GS
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