Iraq records a decrease in annual inflation and an economist calls for investing the financial surplus
Iraq records a decrease in annual inflation and an economist calls for investing the financial surplus
2022-05-16 08:25
Shafaq News/ (economics trading) website, which specializes in monitoring financial inflation, recorded, on Monday, a slight decrease in inflation in Iraq, while a financial expert stressed the need to direct surplus funds towards investment projects and reduce government debt.
And the website stated in an official statistic of the annual inflation of the Group of Twenty, seen by Shafak News Agency, that “the annual inflation in Iraq during the last statistic for the month of February reached 5.1%, down from 5.3%, while the growth rate of the gross domestic product reached 5.9% at the end of last year.”
And he indicated that “the government debt to the gross domestic product amounted to 59.3% at the end of last year 2021.”
In turn, the economic expert, Hilal Al-Tahhan, confirmed to Shafaq News, “The need to take advantage of the surplus funds resulting from the rise in oil prices by directing them towards investment projects to move the wheel of the Iraqi economy.”
He pointed out that “the financial surplus is a great opportunity for Iraq that may not come like it in the future at all, especially with the world’s countries heading towards clean energy.”
Al-Tahhan called for “the need to reduce government debt, whether externally or internally, in order to improve Iraq’s credit rating,” adding that “foreign debts are paid according to pre-set schedules and times.”
On the other hand, the website reported that “Turkey recorded the highest annual inflation in the group, reaching 69.97% in April of the current year, followed by Argentina 58%, Russia third 17.8%, Brazil came fourth with 12.13%, while the Netherlands ranked fifth with 9.6%, and came The United States of America is sixth, 8.3%.
And the site continued, “Spain came in seventh with 8.3%, India in eighth with 7.79%, Mexico in ninth by 7.68%, while the eurozone came in tenth with 7.5%.”
He added, “Germany ranked 11th with 7.4%, the United Kingdom 12th with 7%, and Canada 13th with 6.7%.”
shafaq.com
