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Iraq resorted to foreign reserves to cover the deficit

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therealbubbie

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The Iraqi government said, in a note to the International Monetary Fund on Tuesday it plans to finance the deficit in the balance of payments of withdrawal from Iraq's reserves of foreign, including make it go down to $ 43 billion in 2016 from 59 billion at the end of last October.
She said the government, under a program approved by the Fund Cash as a precondition for the loan, it is expected that the balance of payments deficit of $ 14 billion in 2015, before shrinking to $ 11 billion in 2016
and as much as Iraq's GDP will grow by 1.5 percent in 2015 and 10.6 percent in 2016, with the increase oil production, while falling oil prices will lead to a budget deficit of 15 percent of GDP in 2015 and a deficit of 10 percent in 2016.




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