Saleh: low economic growth to less than 1% rate

Author: Sheikh Salem on: April 30, 2015

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Economic Adviser to the Prime Minister said the appearance of Mohammed Saleh said that the economic growth rate dropped to less than 1%, due to the revenue decline and the situation and security.

And between Saleh's (IMN), that "the current economic growth rate is lower than the population growth rate, and this is a negative indicator."

He continued that "economic growth linked assets, whether from the private sector or the government, and this year is witnessing a decline in investment due to the fiscal situation of lower oil revenues, as well as damage to private investment because of the security situation in five provinces."

The International Monetary Fund has predicted that economic growth will contract in Iraq to 0.5% that is growing in the current year to up to 2%, according to World Bank projections, which was built to increase oil exports and the possibility of attracting investments.

And causing oil prices decline in the global markets to regulate government investment to its lowest level, as opposed to focusing on the activation of private investment and activate the legal aspects of increased financial non-oil revenues.

From: Haider al-Tamimi, editor: Laith Mohammad Reza


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