International Monetary Fund: the Iraqi economy is exposed to deflation because of the fighting in the country

10/08/2014 16:53



Long-Presse /

The International Monetary Fund announced IMF, on Wednesday, that the Iraqi economy will be subjected to shrink this year because of the battles plaguing the country, changing its previous forecast that the occurrence of a healthy growth in the country.



The International Monetary Fund said in its report for the month of October, and seen by the (long-Presse) that "there are expectations of a contraction rate of GDP growth for Iraq for this year by 2.7%, representing a decline from the forecast growth of the Iraqi economy by 5.9% during the month of April."

The report added that "the rate of economic growth in Iraq over the past year was up 4.2% and it is expected that the re-growth through the year 2015, an increase of 1.5%, which is less than the growth rate amounting to 6.7% predicted by the International Monetary Fund for Iraq during the month of April."

And between the International Monetary Fund in its report, "The fighting in northern Iraq began Ptathiradtha negative growth factors is oil in the country, and despite the fact that most of the oil production stationed in southern Iraq and that the rates of oil production was not affected materially the departure of skilled labor will limit the ability of Iraq to expand or perhaps not even maintain the current production level. "

He said the IMF also said that "expectations processing disorder Iraqi oil to world markets due to the escalation of fighting in which it may lead to higher oil prices by up to 20%."

The organization Daash may impose its control over the city of Mosul, the center of the province of Nineveh, (405 km north of Baghdad), in the (tenth of June 2014 present), and seized the security headquarters where the airport, and released hundreds of detainees, which led to he married hundreds thousands of families to the city and neighboring areas of the Kurdistan region.

As militants Daash D activity to several areas in the provinces of Salaheddin and Kirkuk neighboring.


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