30/10/2011 16:47
Erbil, October 30 / October (Rn) - A senior official of Iraq's central bank said on Sunday that the growth of the GDP of Iraq will rise to 9% in 2012 from about 6% currently supported by the predicted rise in oil production and exports. Iraq has the fourth-largest oil reserves in the the world and currently produces about 2.9 million barrels per day. And generates a rise in oil prices more revenue than expected billions of dollars this year. It quoted "Reuters" is harmful to Qassem, deputy governor of Central Bank of Iraq as saying that he would not be difficult for the economy is growing at nine percent if the increased production and exports of the oil sector. Qassim expected GDP growth of about five to six percent at the end of this year. and Iraq is working gradually to rebuild its infrastructure crumbling after more than eight years of the invasion led by the United States and needs to investments in almost all sectors. and the private sector remains small compared to the state-owned enterprises and the government is still the largest employment. Iraq relies on oil for 95 percent of government revenue. Iraq has signed agreements with major oil companies to raise production capacity to 12 million barrels per day by 2017, but the oil minister, Abdul Karim and coffee, said recently that the goal to reach the production capacity to between eight million and 8 0.5 million barrels per day would be most appropriate when it could be to extend the time frame to 13 or 14 years. Kassem said he expected to jump reserves, federal Iraq to about $ 70 billion by the end of 2012 of $ 58 billion right now if oil prices remain at current levels and increased exports and is expected. and Brent crude $ 2.17 to be determined settle at 109.91 dollars a barrel on Friday as the U.S. crude was up 64 cents, recording 93.32 dollars. Qassem was estimated the reserves at about $ 50 billion in October / October, of which 45 percent dollars and the same in euros and ten percent gold and £. Kassem said the central bank had no plans to cut interest rates by up to six percent now, where this may lead to capital flight. He said that the current interest rate appropriate. Open: Abdullah Sabri
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