Latest topics
The International Monetary Agency expects Iraq's GDP growth to decline by 11%
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
The International Monetary Agency expects Iraq's GDP growth to decline by 11%
The International Monetary Agency expects Iraq's GDP growth to decline by 11%
12/16/2020
https://economy-news.net/content.php?id=23165
12/16/2020
Economy News _ Baghdad
The International Monetary Fund expected a decline in the growth of the gross domestic product in Iraq by 11%, indicating that the creation of permanent and comprehensive growth amid enormous challenges will require large-scale structural reforms.
"The COVID-19 pandemic and the sharp decline in oil prices and production have exacerbated the economic weaknesses in Iraq," the fund said in a report seen by "Al-Ektissad News", indicating that "real GDP growth is expected to contract this year by 11 percent." Percent, amid a sharp widening of financial and external imbalances, which reflects the contraction of oil production and the interruption of non-oil economic activity. "
He added that "the sharp decline in oil revenues is expected to expand the fiscal deficit and the external current account to 20 and 16 percent of GDP, respectively."
He pointed out that "there is a need for a comprehensive package of short-term economic policies based on a reliable financial strategy to overcome the health crisis, ensure economic stability, and protect the vulnerable groups."
He pointed out that "achieving lasting and comprehensive growth amid huge challenges will require wide-ranging structural reforms aimed at strengthening public finances, improving governance, reforming the electricity sector, promoting private sector development, and ensuring the stability of the financial sector.
He stressed that "the financial efforts in the 2021 budget should target the main areas of financial weakness, especially reversing the unsustainable expansion of wage and pension bills, reducing ineffective energy subsidies, and increasing non-oil revenues, stressing that protecting vulnerable groups will be of utmost importance and require strengthening Significantly targeted cash transfers and expansion of their coverage, as well as better targeting of other parts of the social safety net.
Iraq, the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), relies heavily on oil revenues to cover 90 percent of government spending, including $ 5 billion spent on monthly salaries for public employees. This leaves the government in the face of difficult decisions that affect the social situation in the country.
https://economy-news.net/content.php?id=23165
claud39- Elite Member
- Posts : 18423
Join date : 2018-11-04
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Sun May 05, 2024 11:37 am by kenlej
» Go Russia
Sun May 05, 2024 10:51 am by kenlej
» Textbook Tony
Mon Apr 29, 2024 4:13 pm by Mission1st
» The Rockefellers and the controllers are freaking out right about now
Fri Apr 26, 2024 11:16 am by kenlej
» Phony Tony sez: Full Steam Ahead!
Sat Apr 13, 2024 11:51 am by Mission1st
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Apr 13, 2024 11:45 am by Mission1st
» Russia aren't taking any prisoners
Fri Apr 05, 2024 6:48 pm by kenlej
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Wed Mar 27, 2024 6:02 am by Ditartyn
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej
» The second American Revolution has begun, God Bless Texas
Mon Jan 29, 2024 6:13 pm by kenlej