Experts: Iraqi economy is witnessing a recession is the worst

Experts: Iraqi economy is witnessing a recession is the worst since the collapse occurred years of political and security

05/29/2013 (00:01 pm)

 Baghdad / term

Pulled out of the political crisis and the worsening of the collapse of security because of the bombings and killings, abductions, on the economic situation in the country, and stressed Brokers Property owners shows sell cars and a recession is the most prominent, which hit the country in years.
Underscoring the many residents of the areas of the Karkh district of Baghdad, the prices of their properties because of severe measures taken by the security forces weeks ago, speaking experts from declining indicators of business dealings in the various sectors of the economy and investment due to the wave of violence that recorded their highest levels in years. says Nadim Ameri gallery owner to sell cars in the Karrada district’s (range) “The car market in Baghdad, and for more than 4 months is retarded, and there is no demand by the citizens to buy cars, “adding that the exhibition did not witness sale of one car for weeks, due to a decline movement purchasing. and even shows selling famous car in Baghdad in the areas of Baya, granular and Renaissance saw the recession, pointing out , in what is expected to increase the bombing of the shows granular first yesterday from the market decline. On the other hand, the citizens in the Karkh assert lower prices for their homes, dip buying and selling homes, especially in Sedea and the session and Adhamiya and Amiriya because of the security measures taken by the army and police at the entrances these neighborhoods, which takes accessible long hours because of a port or implementers only to enter and exit. says Raad Uwaini who offered his house, in the notification area west of the capital, for sale for weeks for the “long” that he left his home for nine months because of fear for his family of stress security located in Baghdad, and chose housing in the Karrada district near the place of work, despite the fact that rental rates in this region is high, but he prefers the security of his family targeting risk, he said. He adds Uwaini he offered his house for sale at any price appropriate to be able to buy another in the area safer, but not related one to buy the house, while he said that brokers property who make their living on the crises they offered a price too low is not commensurate with the price of Casablanca true. says economist Bassem Jamil Anton “long” that the political crisis and violence, the current will be a major cause of the low rate of investment and buying and selling houses and cars and goods, while the fall Activity foreign companies operating or intending to work in the country. adds Anton “The past few months have seen a recession and paralysis economically pointing, likely to continue in the event of failed government and the responsible parties in finding solutions to the crisis of the political and security. believes Antoine that “the security situation based reflected negatively on the commercial movement of markets, restaurants, clubs, and purchasing power,” asserting the existence of areas affected by the reality of security in terms of real estate prices, adding that “the country has not seen such a slump since 2003, after that there was a marked improvement on the ability of citizens purchasing, and recovery relative to the Iraqi economy, after the fall of the former regime. confirms Antoine “The reluctance of the economic activity will lead to a scarcity of goods in local markets and the lack of imports and limited opportunities work which pays owners souls vulnerable to exploit the situation and raise the prices of goods and commodities. ” explaining that “the lack of economic activity in general will reflect negatively on economic growth and on future plans also affect the implementation of construction projects and five-year plans and the deterioration of the budgets of the country.” For his part, linked to a member of the Finance Committee Deputy Secretary Hadi recession winning three fundamentals, some related to the security situation and political and economic instability of the provinces where demonstrations. said Hadi in a statement to the “long” to “areas of Kirkuk and Mosul, Anbar, Diyala, Salahuddin, became a semi parked commercially, and produced food crises and Ocodeh in those provinces, which is a serious indicator on the high incidence of poverty. and corrects Hadi said “the instability of security and political situation in all parts of the country to make them environment repellent for foreign investment and unsafe on the domestic investor,” calling to unite the political and non-sectarian and create a suitable environment to revitalize interests that contribute to the stability of the whole system.

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