The International Monetary Fund is likely that the growth rate of the Iraqi economy during 2015 will be about 2%

Author: BS, HAA
Editor: BS, SHS
10/12/2014 14:02



Long-Presse / Baghdad

International Monetary Fund IMF, said on Wednesday that the contraction of GDP growth for the economy of Iraq to about 0.5% rate of decline during 2014, and explained that the rate of contraction that is "better" than the previous forecast, which was up 2.7%, and as likely to reach a growth rate Iraqi economy is about 2% during 2015, stressed that the recent agreement between the central and regional governments in Baghdad will contribute to achieving this.

The IMF said in a statement released today, received a (long-Presse) a copy of it, that "the angel had met with senior Iraqi officials in Amman, among them the Minister of Finance and the Governor of the Central Bank to discuss recent economic developments of the country and the problem faced by Iraq with al (Daash) and falling oil prices.

Fund said in its statement that "the head of the IMF mission to Iraq Carlo Sdraljevic predicted that gross domestic product (GDP) growth rate for Iraq shrinks by 0.5% during 2014," attributing the cause to "the effects of the crisis (Daash) on the economy in the country."

Fund said, "The rate of contraction ratio is the best previous forecast of the Fund last October, when he predicted that the economic growth of Iraq rate shrink by 2.7% this year," noting that "the expectations of improved economic growth rate reflected the rise in oil production rates."

The International Monetary Fund in its statement that "the forecast growth rates for 2015 will stand at the ratio of almost 2% with the continuity of high production and export of oil rates, which promote the agreement that was reached recently between the central government in Baghdad and the KRG about the quantities of oil exports."

Fund and also, that "the pace of new growth rate was stronger than previous estimates Fund for the month of October, which identified only by 1.5%."

Fund and pointed out that "the non-oil sector growth rates in Iraq have since the start of the fighting fell in early this year with the organization (Daash) That is because the right of the destruction of infrastructure and the difficulty of obtaining fuel and electrical energy with low confidence levels in the investment side and rupture the commercial sector ".

The Fund said in a statement, that "the impression that the International Monetary Fund taking on the oil industry in Iraq and thus the economy more glamorous because most of Iraq's oil fields and facilities located in the south of the country away from the militants threats (Daash)."

Fund predicted that "Iraq's oil production up and in conjunction with what is produced from oil in the Kurdistan region to 3.3 million barrels per day," noting it was "more than it was in 2013, which was an average of 3.1 million barrels per day with the survival of export as it is rate expectations since in 2013 at a level of 2.5 million barrels per day. "

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