Iraqi economy growth forecast by 9% in 2013

Iraqi economy growth forecast by 9% in 2013

Friday, January 11, 2013 15:15

Translation / Baghdadiya News / .. According to the Reuters news agency told a central bank official as saying that “Iraq’s economy is expected to grow by 9% this year, with OPEC oil production expansion and the growth of international imports, including between $ 105 – $ 110 billion.
Iraq has the fourth-oil reserves in the world and produces more than 3 million barrels per day of crude oil for the first time in three decades as a result of wars and sanctions. Predicted Acting Central Bank Abdul Basit Turki that “GDP growth up to $ 150 billion by the end of 2013, and will be represented 9% of the growth.”
The central bank had said earlier that the rate of growth in the Iraqi economy in 2012 will reach 10% in the month of December last, where reserves stood at $ 70 billion.
Iraqi oil sector generates about 95% of government revenues, but the country still needs to invest in non-oil sectors and improve the infrastructure and power generation systems. Finished / 21

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