U.S. warns Iraq of endangering the economy by relying on oil revenues alone

U.S. warns Iraq of endangering the economy by relying on oil revenues alone

Tuesday, 09 October 1 / Okrudolf 2012 18:10

[Baghdad where]

Warned the U.S. Embassy in Baghdad on Iraq jeopardize the economy because of its reliance on oil revenues alone, announcing at the same time that Iraq’s economy has achieved a growth of 9.6% in 2011, according to the report issued by the regional economic development project [Trade Tijara ] of the U.S. Agency for International Development.

A statement from the U.S. embassy in Baghdad received and all of Iraq [where] a copy of it today that “Iraq’s dependence on oil revenues entirely may display the development process of a diversified economy for the private sector at risk,” pointing out that “the report [Trade Tijara ] for economic development regional Among its recommendations emphasizes the development of agriculture and industry in Iraq as the two sectors through which provide work for future generations in Iraq. ”

The acting U.S. Embassy in Baghdad Douglas Silliman according to the statement that “a pleasure to be here in Iraq and that there are many economic challenges and institutional, is that the political leaders have the opportunity to make changes effects effective in the long term will bring prosperity and stability to Iraq and its citizens. ”

The statement said that “the program [Trade Tijara ] for economic development regional aims to provide financial services and development in the field of business for beneficiaries Iraqis in all Iraqi provinces eighteen for the development of the Iraqi economy and create jobs, program also supports the expansion of commercial lending through institutions microfinance banks. ”

It is said that earlier this month has all of the U.S. Embassy in Baghdad, represented by the U.S. Agency for International Development [ USAID ], and the Advisory Committee to the Prime Minister to host an economic conference to discuss the report the new assessment that determines economic priorities in Iraq, as well as to Iraq mono economy depends on More than 90% of the proceeds on the sale of oil and gas. ended