Government: $ 150 billion GDP in 2014

Government: $ 150 billion GDP in 2014

02/07/2012 0:00

Shaways reveals plan for major development
Baghdad – Al Sabah
government unveiled yesterday plans for major development for the advancement of economic reality in the country.
the Deputy Prime Minister Ruz Nuri Shawis from the expectations that up GDP in 2014 to 150 billion dollars.
and Shaways said in a speech at the Forum Krantz Montana, which was held in Baku yesterday: “The Iraqi economy has witnessed in the framework of his readiness to return to the global economy shifts the task on the path of openness and freedom and the adoption of the forces of supply and demand mechanisms essential in economic relations in the form which facilitates the integration process in the system of international economic and this is part of our vision of economic new, which contributed positively to the achievement of significant growth in many sectors of the economy. ”
and added that Iraq has made on the economic level a number of positive developments over the past years in a number of indicators, has doubled the gross domestic product has doubled with per capita GDP, according to IMF forecasts the gross domestic product will reach the limits of (150) billion dollars in 2014, has also succeeded the Iraqi government in developing a policy efficient to control inflation and controlling government spending and restructuring State-owned banks to keep pace with developments in the banking world, as well as our success in collaboration with the international community to reduce indebtedness resulting from the Iraq during the past decades. ”
The Deputy Prime Minister: “Iraq has oil reserves of up to 143 billion barrels and probable reserves exceed its estimates of proven reserves, as well as large reserves of natural gas of up to 126.7 trillion cubic feet, and we expect to contribute investments in this sector, the development of major in the field of oil industry in Iraq through the rounds of licensing contracts with dozens of major international oil companies. ”
and pointed out that “the electricity sector needs significant investment to double generating capacity to meet domestic demand through the construction of new generating stations in the whole Iraq, and there is a need for significant investment in this sector to meet the growing demand which is expected to double by the year 2015 up to 20000 MW (twenty thousand megawatts), “noting that in” the housing sector, the development plan five-year 2010-2014 point to a need to build two million housing units and infrastructure, has raised the Iraqi government through the National Investment Commission, a national project to build (million) and housing units across Iraq. “Shaways noted that” there are great opportunities in the transport sector to invest in road construction, bridges, airports and ports have been put forward a draft port of Faw and build a modern network of railways, highways and rehabilitation of a number of airports. ”
and on the telecommunications sector, said: “The Iraqi market is the fastest growing in the region in mobile communications, although much of the infrastructure in this sector still needs to large investments are also available opportunities to invest in projects for telecommunications and Internet service and telephone Ground (fiber optic). “The new Shaways that Iraq sought to increase economic cooperation and exchange of experiences with friendly countries and various international companies sober located in this forum to learn that their experiences of deep worthy of study.
Source: alsabaah