Potential growth of the Iraqi economy
05/5/2016 12:00 am
Ali Hassan Al-Fawaz
As far as the Iraqi economy faces many problems, the ambition to overcome these problems remain, but under adopt economic policies, promising schemes can mitigate its consequences, and puts the legitimacy of high economic growth, a national goal for everyone.
Figured out that the IMF forecast high economic growth in Iraq – as the Fund mission report says Iraq-to 2.9% for 2016 will be longterm economic effort to confront the difficult conditions that threaten life, notably the costs of the war on terror, and lower oil prices, and the lack of seriousness in implementing investment economic programmes.
Rising inflation and deteriorating currency and the poor performance of financial centres is the result of these problems, and weakness against complexity, to not think about creating an economic environment for investment and sound development will increase the negative effects on the economic future, and that's what console see the IMF of reality and the nature of economic policies, which would give a boost to Iraq's access to international financing by the Fund, according to a joint program with Iraq,
says the IMF's latest report : Total growth rate is expected to rise in the region's oil-exporting countries to 2.9 percent in 2016, rising up to 3.1% 2017 compared with 1.9 percent last year as a result of the non-oil economic activity in Iraq, Iran and Yemen and Libya,
the report said about Iraq demonstrating his ability to respond to the context of the Fund's lending, despite the deficit, weak government capacity On spending.
Especially that the assistance provided by the Fund are usually associated with the conditions and procedures on spending and on supporting materials and services in the popular sectors, the implementation of some major projects.
To deal with these difficult circumstances doesn't mean relying on secondhand, as far as that require the need for exceptional work mechanisms, and incentives can be a real incentive to reduce the deficit, and the effects of the economic downturn, as well as creating active policies for rationalization and adjust spending and rehabilitate the administrative program of the State institutions, and real control over any messes or corruption in public money to forecast growth in economy-though difficult-data point can be employed in this area, especially in supporting economies chock, discipline policies, in Reduce corruption and money laundering and currency smuggling as well as indicators on a slight rise in oil prices over the last few days, and the desire of many States to control oil galore for the purpose of controlling prices.