Expected to increase Iraq’s financial reserves end 2018
Expected to increase Iraq’s financial reserves end 2018
1/16/2014 0:00
BAGHDAD – Mustafa al-Hashemi said the academic economic Dr Majid Baidhani: that Iraq’s economy will recover gradually to reach rates better than it is now in terms of inflation and real output will grow during the next few years. added Baidhani told (morning) it in the medium term, will remain macroeconomic prospects in Iraq driven by developments in the oil sector and assume the expectations of experts implement sound policies in the macroeconomic framework and to achieve gradual progress in terms of structural reform. pointed out that experts expect an increase in oil production gradually by about 500-400 thousand barrels per day on an annual basis, up to 5.7 million barrels per day by the year 2018. It will grow the non-oil sector by about 6.5 percent to 51 percent of GDP in 2018. He said it, according to experts, growth will remain above 8 percent in the medium term, and will result in oil export revenues to the strong increase in commodity prices and the rise in non-commercial real exchange rate. The inflation rate will range between Local 5 and 6 percent, a level higher than its counterpart in the trade partners. He said he expected to increase financial reserves by general weakness, by the end of 2018. He pointed out that oil exports will support surpluses strong in the current account in the medium term and to increase reserves at the Central Bank to reach 104 billion dollars by the end of 2018. confirmed Baidhani that there are expectations that grows real output during the current year to 9.0 in the next year, 8.3 in 2016 to reach 9.0 percent, and forecasts show that by 2017 the proportion will reach 8.4 to 8.3 in the year 2018. , and pointed out that the reports in the forecast indicates that the consumer price index will be in this year by 5.5 to remain stable until the year 2018. It also expects that a total dollar reserves during this year’s 84.9 billion dollars, rising to $ 90.5 billion dollars in the next year to rise to 95.5 in 2016 and a 99.3 in 2017 to reach 103.7 billion dollars in the year 2018. , and in relation to external debt percentage of GDP, 10.0 during the current year and 8.5 in 2015, falling to 7.2 in 2016 to $ 6.1 in 2017, falling to 5.2 in 2018.
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