Planning expects the high rate of economic growth during the next three years to 16%
Planning expects the high rate of economic growth during the next three years to 16%
03.10.2014 (0:01 pm)
BAGHDAD / Acer Jabbar
The Ministry of Planning, that the rate of economic growth of Iraq in 2012 and 2013, amounted to about 9%, and as expected to reach the level of growth over the next three years to about 16%, confirmed that it would increase the income of the Iraqi citizen and absorb unemployment and operating labor.
A spokesman for the Ministry of Planning Abdul-Zahra al-Hindawi said in an interview to the (long-Presse), “The economic growth rate for Iraq in the past two years (2012 and 2013) amounted to (8.9), or approximately 9%,” expected to be “up growth during 2015 to about 13%. ”
He guessed Hindawi that “up growth during the next three years (2015, 2016 and 2017) to (16%), an increase of 7% from last year, asserting that” that figure is subject to what will happen of oil revenues promised by the Ministry of Oil depending on the height of the roof of the production of crude oil in the coming years as well as increase the income of the Iraqi citizen of investments realized and projects to be implemented as well as the absorption of unemployment and operation of labor in Iraq. ”
Deputy Prime Minister for Energy Hussain al-Shahristani predicted , on the 25th of November 2013, that “the rising growth rate to ten percent over the next five years”, stressing that “Iraq was able to control the rate of inflation and reduced from 50 to six percent currently.”
said Merrill Lynch – Bank of America a report, issued by the end of November 2012, according to a poll conducted by the “Iraq will be the fastest growing among the world’s GDP and will grow in the local production of up to 10.5 percent, followed by China with 7.7 percent.”
It is noteworthy that the annual report of the International Monetary Fund ( IMF), for Iraq in 2013, and seen by the (long-Presse). He pointed out, that “experts predict that more than growth in Iraq in 2013 to nine percent with increasing oil production to about 3.3 million barrels per day, and the recovery of activity in the non-oil sectors (government services, trade, real estate, construction and transportation), and the report also pointed to a decline in the rate of inflation from six percent at the end of 2011 to 3.6 percent at the end of 2012 the past.
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