Economists: the growth of the Iraqi economy unreliable

Economists: the growth of the Iraqi economy unreliable

01/19/2013 (23:00 pm)

 Ghazanfar defect

He Economists said the tremendous growth in the Iraqi economy, amounting to more than $ 9% unreliable because the oil sector is market consumers, not producers, subject to the vagaries of international and political situation and continued to quotas by OPEC, and any decline in demand for oil reduces production and may adversely affect the gross domestic product.
economist said Maytham Laibi “long”, that “several indicators confirm that growth in the Iraqi economic reach to the highest level in the past three to four years due to the increase in the production and export of oil as well as the fields that will serve in two next through licensing rounds and foreign companies that operate in the rehabilitation of the oil sector in Iraq now. ”
promised Laibi “Iraqi economy ريعيا highly dependent on oil imports, I do not think that Iraq will succeed in the coming years the shift from an economy unilaterally to a diversified economy, but rather will increase dependence on the oil sector and must diversity sectors. ”
and said that “all countries are seeking to diversify their economies and must so they can be interest in all other sectors such as agriculture, industry, tourism and others.”
and that “the growth in Iraq is equal to the growth that is happening in China, but their development depends to produce and export a range of goods and not a single source that is dangerous to the Iraqi economy. ” He pointed out that “oil revenues and development plans spend substantial funds to develop the oil sector itself through rehabilitation pipes and export ports, transport, energy, electricity and the remainder little is spent on the development of other sectors.”
with Prime Economic Studies Department at the center of Mustansiriya of Arab Studies and International Abdul Sattar Bayati “long” that “the growth of the Iraqi economy is the highest in the world, growth is not a reliable much because متأت of the oil sector only because of the high energy export to Iraq, reaching 3 million barrels per day with the price increase achieved this growth.”
he added Bayati said “agricultural and industrial sectors originally did not participate by increasing the rate of growth so far because of the lack of industry in Iraq and that most of the installations and industrial institutions of the state and number 92 facility almost, mostly losing and not have the ability to fill their payrolls.”
and that “the oil market is a market consumers, not producers, subject to the vagaries of international and political situation and continued to quotas set by OPEC so it can not rely on the oil sector fully. ”
and added that “the United Nations classified structure GDP Tsnva private set includes sectors such as water electricity, insurance, banking, agriculture, forestry, industry , tourism and others, and improve performance in any of these sectors is reflected in the value added to gross domestic product and reflect positively on the economic growth. ”
and the World Bank said in a report Wednesday that Iraq has grown “dramatically” in 2012, and expect that this will continue growth to rise until the end of 2013 as likely to fall in 2014 and 2015 due to weakness in the industrial and agricultural sectors. The report, released them that “Iraq has achieved growth in 2012 amounted to 11.1% compared with 2011, which achieved a growth of 9.9%.”
The report predicted that “Iraq is making tremendous growth in 2013 of 13.5% due to higher oil exports . ”
He guessed that “growth in Iraq will decline during 2014 and 2015 due to weak industrial and agricultural sectors in Iraq and ensuring compliance with quotas OPEC oil.”
and the report said “growth in Iraq will fall in 2014 to reach 11.0% in 2015, will drop more for up to 8, 5%. ”
and was Governor of the Central Bank and the Agency Basset Turki said at a banking conference attended by “Twilight News”, “I expect that GDP up to $ 150 billion by the end of 2013 and growth will be 9%.” Iraq has the fourth largest reserves of oil in the world, and became produces more than three million barrels per day for the first time in three decades with recovery sector after years of war and sanctions.
achieves Iraq 95% of public revenues from the oil sector, but the country still needs to invest in non-oil sectors and develop crumbling infrastructure and power generation system.

almadapaper