Video: Iraqi currency faces a difficult challenge and the economic situation to deteriorate

Admin Tue Mar 21, 2017 11:14 am

Tuesday 21 March 2017

The value of the Iraqi currency and market prices appear to be facing a difficult challenge in light of the fall in the size of the country's hard currency reserves and rising public debt, revealed by the International Monetary Fund during its second review of Iraq's credit standoff.

Although the head of the mission of the International Fund for Iraq, Christine Goz, said in a statement that the level of the decline remains comfortable, he stressed that the reserves declined from fifty-three points of seven billion dollars at the end of 2000 to fifteen and forty-six billion dollars, At the end of two thousand and sixteen.

This erosion in the reserves attributed by Jos in his statement to several factors that keep the Iraqi economic activity flowing in the circle of modest growth, including the war against the organization of urging, and the sharp decline in world oil prices and reduce the volume of production under the Convention reached by the Organization of Petroleum Exporting Countries OPEC as well as The non-oil economy shrank by 8 percent.

While maintaining the stability of the dollar exchange rate in Iraq, it is likely to maintain the great pressures on the public finances of the country with the government deficit remain at the level of twelve percent of GDP this year, and increase humanitarian and security spending and total public debt in addition to the rise in non-performing loans At government and private banks significantly.

According to the policy, the level of economic risk will remain high, which called on the International Monetary Fund during its second review of the credit agreement to emphasize the need for the government to implement further economic reforms to create a space for comprehensive growth and reduce corruption, as well as reform of the banking sector to support growth Led by the private sector before embarking on a post-reconstruction process.

http://www.alsumaria.tv/news/198602/بالفيديو-العملة-العراقية-أمام-تحدي-صعب-والوضع-الاق/ar