Najib: the expectations of the International Monetary compatible with the new financial reforms

August 20, 2015

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - a member of the economic and investment commission parliamentary Najiba Najib said the new projections announced by the International Monetary Fund to increase the Iraqi economic growth rate until the end of this year by 0.5% in line with reforms aimed at reducing operating expenses package.

The International Monetary Fund forecast on Wednesday, the Iraqi economy growth of 0.5% by the end of this year, thanks to expansion in the oil sector, and increase the contraction of economic activity in the non-oil.

She said Najib's (IMN) that "the International Monetary Fund had urged Iraq to continue to find ways to reduce operating expenses and enhance capital expenditures to raise the rate of economic growth", noting that "the expectation high rate of economic growth in Iraq for the next phase of the output of the reforms adopted by the government package which included the reduction of operating expenses. "

She explained that "the new procedure adopted by the government and containing the increase non-oil revenues Ktfiel various levies file, and activating the micro-economic projects that fired her five trillion dinars by the Central Bank will contribute to increase the rate of economic growth."

The Fund also predicted that the budget deficit rises in Iraq from 5.3% of GDP last year, to 18.4% of GDP, in 2015, due to continued weakness in oil prices, and rising spending on humanitarian and security purposes.