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Iraq optimistic as economy shows signs of economic growth

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Iraq optimistic as economy shows signs of economic growth

Unread postby Stillw8n » Sat Sep 07, 2013 10:36 am

Iraq optimistic as economy shows signs of economic growth

Baghdad: Network Akhbaralarac – connects economists and Naftyon Iraqi optimism to achieve their country’s strong economic growth anticipated, provided political stability, drilled 115 locations oil estimated quantities estimated at 350 billion barrels and additional drilling operations in more than 450 fields in different parts of Iraq, which contain more of 530 geological complexes stored oil reserves are enormous.

says a member of Chamber of Industry Baghdad Nabil خدور, citing a report issued by the Bank of America Merrill Lynch, said that Iraq will witness a growth in production of GDP up to 10.5%, followed by China with 7.7%. said خدور ” Iraq was launched in May 2010 National Development Plan Five 2010-2014, which aims to reduce disparities and barriers between urban and rural areas, and the establishment of infrastructure and securing social services and jobs, and increase the GDP to 9%. “

and the International Monetary Fund forecast in a report issued in Twenty of last March to grow the Iraqi economy rate of 9% during the year 2013, and warned Fund Baghdad to the need to better ways to control government spending and work to end the spending outside the scope of the budget. says oil expert Alaa al-Asadi from the center of the fire eternal development and development of oil Iraq “It will be the focus energy in the coming years, according to the report issued by the General Union of Chambers of Commerce, Industry and Agriculture Arabic in Beirut last year, which confirms that Iraq possessed stockpiles tremendous amount of oil and gas.”

adds Asadi “There are 415 locations unexplored in Iraq is increasing reserves of 215 billion barrels and there is a wealth of gas, “points out that European countries have expressed interest in this field., says an expert in the oil ministry Ghalib Maimouni The capacity of oil refineries will increase from the current level of 600 thousand barrels per day to 750 thousand barrels, and despite the fact that Iraq’s production exceeds the currently 2.0008 million barrels a day, the highest since thirty years, the country – by the same speaker – still lacks the necessary means to transport crude oil to مصافيه which is located at great distances from the workhorses, and to avoid, there are plans to build four new refineries to increase refining capacity to 1.5 million barrels per day within four years.

believes a professor of economics at the University of Baghdad, Ahmed Al-Mutairi that “all the evidence and facts on the ground as well as plans that are being implemented suggest that the importance of Iraqi oil will soon stabilize the country’s political and security” he said, adding the island revealed that production will reach 12 million barrels per day by the year 2020, accounting for 12% of total global production.
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