Iraq's economy is recovering gradually in light of the situation in the country

Iraq's economy is recovering gradually in light of the situation in the country

25-07-2016 11:30 AM



Economic Adviser to the Prime Minister Haider al-Abadi, the Iraqi economy is recovering gradually seemed assured, but slowly. "

Iraq faces a financial crisis since the fall of oil prices in July 2014, which constitute 90% of its imports, and conducted on the impact of government austerity policy to reduce costs and provide the necessary resources and taking international loans to secure war supplies to the terrorist Daash gangs, and staff salaries.

And he said that 'Iraq is still in financial distress do not want to be overly optimistic and pessimistic at the same time, caution is required, but there politically and economically determined to continuously rotate the course successfully. "

He added 'since 2014 and until today the country moving the right way and there was no shortening the obligations of the government in the past year as well as the first half of 2016 and this means that there is the economic success of the approach of the Government of Haider al-Abadi and this success must sustain the momentum. "

He explained Counsel, that 'the Iraqi economy is recovering gradually but slowly and treat the situation day by day and week by week. "

The Planning Minister Salman Jumaili said in a July 11 th, that 'Iraq surpassed the most dangerous phase of the economic crisis, after passing the first half of 2016, and that the world is growing confidence of the Iraqi economy. "

He expressed the hope that 'be the second half of 2016 will see the best since the end of Daash Iraq and the return of displaced persons as well as the existence of positive indicators for the rise in oil prices in the global market as well as the results of the economic measures taken by the government and processors during the last stage. "

The International Monetary Fund recently approved a loan demand, allowing Iraq to get first payment of $ 1.9 billion.

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