British report: Iraq ranks the lowest in global economic rankings

London / Orr News

In November 2012 publication of the Institute of British Egatom his own index (annual prosperity), which covered 142 countries. Index is divided into eight categories are the economy, the efforts of business, governance, education, health, safety and security, personal freedom, and social capital.

Institute supports the growth of democracy and capitalism, and index intended to measure the development of these systems in the world. Iraq came in the bottom of the list in sequence 131, which puts him last in the Middle East and North Africa. Usually comes Iraq at the bottom of these types of lists because of his release from decades of dictatorship and the invasion and civil war.

The purpose of prosperity index is to examine the economic opportunities, access and confidence and well-being in the world. Index is based on eight factors, the economy and includes macroeconomic policy and economic sufficiency and expectations and the foundation and development of the financial sector, it is clear that economic policy affect the income and well-being as they are expectations for the future. Business endeavors scan the business environment, innovation and access to opportunities, the environment is good business can improve the economy and living standards. Governance includes a functioning government responsible and fair elections and political participation and the rule of law, Good urban governance can help in economic development and in the protection of freedoms. Education consists of three factors include admission to the schools and the quality of education and human capital, where education can spur economic development. Income, infrastructure and all-sufficiency pose a health worker. Pose safety and security of national security and the safety of individuals, that is clear that stability is essential for investment and economic development. Personal freedom consider the rights of individuals and social capacity. Finally, the social networks covering social cohesion and community networks.

The year 2012 is the first year which included Iraq in Institute for Egatom index, and his performance was bad, where he was ranked 131 among 142 before the ten worst countries shortly. As stated by the latter in the Middle East and North Africa. This was followed by the United Arab Emirates the best in the region in the sequence 29, followed by Kuwait in the sequence 38, Israel ranked 40 and Saudi Arabia ranked 52. Below came Yemen ranked 134, while the cursor did not include Libya, Oman and Qatar. Iraq’s performance was bad in all eight categories, as expected. Came as follows: in the economy was ranked 92, in the effort to Business 125, in the style of rule 137, Education 112, Health 107, Safety 135, in personal freedoms 141, in social capital 105. Information on these figures came for the period from 2008-2011 and the little ones came before that period. Information intractable before this period because it was during the Civil War, when Iraq was a failed state, while from 2008 until the present time is much better because of the improved security situation, which stimulate the feeling of normalcy. Since the Institute is on the economy where the latest data, the better, because Iraq is witnessing significant economic growth with huge investments in the oil industry, which supports important state revenues in everything because the economy is controlled by the state. At the same time, the bureaucracy very bad where the government is the employer, and the economy is controlled by the oil and gas, and the government moving from one crisis to another. Finally, rebels still carry out terrorist acts. With all this it is not surprising that Iraq’s performance is bad in the index.

Iraq is a country struggling just come out of decades of war, sanctions and dictatorship. For these reasons, we see always struggling in the global rankings. At the same time things began to change now, at least economically, after the main fighting ended. But this does not mean that the good performance of the government and there is no major structural problems and a society based on the exploitation of natural resources, nor does it mean that some things are getting better. Likely to take foreign totals several years to keep up with the changes taking place. Even then, Iraq will be like the rest of the developing countries in the ranks and will face difficulties to climb on the ladder of the menu like the rest of the countries of the Middle East and North Africa because of his government and its dependence on oil.