Issawi: Iraq has made ​​remarkable growth rate in 2011

[Stillw8n]

Issawi: Iraq has made ​​remarkable growth rate in 2011

Radio Sawa

Finance Minister Rafie al-Issawi that Iraq has achieved a growth rate significantly in the current fiscal year. This came in statements to Issawi, who attends the meetings of the World Bank and International Monetary Fund in Washington.

He said al-Issawi said in an interview with "Radio Sawa" that the rate of growth reached five per cent, but warned the rate of inflation which he said had caused pressure on the Iraqi citizen.

Issawi, also reported that the budget deficit reached 17 per cent of the total budget during the fiscal year 2011.

Issawi and predicted that the growth rate remains at its current level because of the government's efforts to bridge the gap between the rates of growth and inflation over the next year.

On the other hand, the finance minister said that private banks face a number of obstacles that make them unable to play a greater role in the Iraqi banking sector.

The World Bank seeks to help Iraq in order to include the private banking sector in the banking system in order to help the banking climate at home and stimulate the development of the financial sector.





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