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IMF: the structure of the Iraqi economy is still at risk

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IMF: the structure of the Iraqi economy is still at risk

Unread postby Stillw8n » Sun Mar 24, 2013 9:43 am

IMF: the structure of the Iraqi economy is still at risk

The International Monetary Fund said on Saturday that Iraqi oil exports spurred economic growth, the Iraqi economic structure Mibaka Iraq in the circle of suspicion.

A statement by the International Monetary Fund got “obelisk”, a copy of which, following the conclusion of a comprehensive assessment of the Iraqi economy, “The structural economic Iraqi still suffer from weak seriously in the economic field and especially since the unemployment rate is high and the business climate bad as weaker non-oil sector.”

He added the fund that “Iraq should face significant challenges in the medium term to create a climate growth strong and durable necessary to improve the living conditions of the population,” calling the Iraqi authorities to “strengthen the mechanisms of financial control in order to ensure that oil revenues are used effectively and in a transparent manner.”

The fund “its determination to continue its cooperation with the Iraqi authorities plan to help him has ended prior to Iraq worth U.S. $ 3.6 billion in the last month.”

He explained the fund “despite the security environment and a difficult political Iraq succeeded in maintaining stability in terms of economic sectors in the last two years, especially since it recorded an economic growth rate of eight percent last year and will see an acceleration greater this year to reach the proportion of nine per cent driven by increased oil production, which is the largest natural wealth in the country despite the violence and corruption of the administrative and financial. “

Iraq currently produces 3.15 million barrels of oil per day, only 2.5 million barrels, while its proven reserves estimated at 143.1 billion barrels of crude oil which is among the highest in the world.
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