Iraq's economic events in 2015

12/30/2015 0:00

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BAGHDAD - morning
Iraq has witnessed during the 2015 mission and prominent economic events, it has acquired the economic reforms on the public and international attention, despite the delayed implementation, as reflected echo some of the events on the world such as having Iraq on the credit rating degree B- from Fitch and the determination of the Ministry of Finance to issue international bonds, as well as Some events, including those relating to the Arab world as a conference annual banks, some of which has to do at the local level through economic events sporadic.

Perhaps Iraq for the credit rating of the most prominent events that the country witnessed during the current year as it is to obtain the degree classification is an important step on the country's economy and attract foreign investment and determine the percentage of risks.

As counting Iraq's intention to issue international bonds to cover the deficit in the budget and the abolition of the resolution because of the high interest, which amounted to 11 percent of the most prominent economic events during the current year rate.

The start of the third Banking Conference, which was held in the middle of this month in the presence of Arab financial and banking figures of prominent economic events in Iraq in 2015.

There is no doubt that the export of heavy crude oil card 850 thousand barrels per day is expected to increase gradually, from prominent economic events during the year, where Iraq may be the source separation of crude oil into two types (light and heavy) in response to the desire of consuming countries.

The viscosity of heavy crude Basra 23.55 degrees on the American Petroleum Institute scale, although the sulfur content of 4.2 percent.

In the context of oil also it managed to Iraq during the current year of breaking records in the export figures where these exports amounted to 3.187 million barrels after the export of heavy oil to the market as well, as these exports amounted to 3.365 million barrels in November 2015.

In the business and finance sector Central Bank of Iraq announced the launch of the largest start funding for lending programs in Iraq amounting to 6.5 trillion dinars process, pertaining to the financing of industrial, agricultural and housing sectors also supports small and medium enterprises and stimulate the national economy.

The Central announced that «the new regulations set by the Bank is that the auction is no longer a daily window to sell the currency auctions», adding that the new mechanisms developed to sell this currency, especially that of its functions to provide currency for foreign trade, as well as the issuance of central bank category of the 50 000 attributing this to complete the banknotes structure and the development of high value in the category Dinar Trading.

Observers believe that the continued decline in oil prices to low levels, which amounted to less than $ 35 per barrel, it may be the most prominent event during 2015 because of its repercussions on the reality of the federal budget and the implementation of investment projects in Iraq.

The House vote majority on the 2016 budget as is for the first time by the year 2016 worth in excess of 105 trillion dinars, and a deficit of more than 24 trillion dinars and vote on paragraph 25 of the budget included a tax on Kartat mobilize phones by 20 percent and on alcoholic beverages increased by 100 percent from What the public witnessed the most prominent of economic events, as well as the deduction of 3 percent of the salaries of all employees and retirees, as the deduction will include employees' salaries and customizations.

Also, the Council of Ministers' decision to cut the three presidencies salaries in half of the outstanding economic events related to the general economic life of the citizens, as well as the application of a new law on Tariffs and undo its application after a short time because of the demonstrated traders on the Safwan border port with Kuwait, and the disruption of goods and passengers traffic between the two countries.

And such as the Council of Ministers' decision to lend Housing Fund of the Rafidain and Rasheed amount of 100 billion dinars to support lending to citizens for the purposes of housing with carrying Ministry of Finance legal interest in coordination with the Minister of Finance, one of the outstanding events in the country in economic affairs, as well as senior positions salaries of the three presidencies reduced by 50 percent, and reduce the minister allocations and their grade and earn their salaries by 45 percent, and reduce staff allocations to all addresses in the career of the three presidencies, bodies and departments associated by 30 percent.

Like the decision to boycott Turkish products, any agreement or contract with any Turkish company as a means of pressure on the Turkish government to withdraw its armed forces from Iraqi territory, which has moved to it, of the important economic events in terms of the economic relationship between the two countries.

It also represents the announcement of the Ministry of Planning delete 296 projects, and the postponement of 2169 another project, representing 40 percent of the projects due to the current financial crisis and the development of controls and mechanisms to implement all investment projects in a manner postpaid and to be adopted within the next year's budget in 2016 of prominent economic events in Iraq.

The transport sector saw a significant economic events consisted approve the establishment »Basra Holding Company» to finance the port of Faw for the purpose of contributing to the mitigation of the financial crisis taking place in Iraq.

Along with the arrival of a foreign vessel to the port of Umm Qasr carrying three new trains were manufactured in China for the General Company for Railways as well as the arrival of four other trains, bringing the number of trains that have been received to 11 of the 12 trains already the government contracted to buy them from China worth $ 138 million.

And received Airways plane bearing the number 12 of the 800-737 model from within the aircraft company Boeing Company received under the contract with them to become Iraqi Airways fleet with 32 aircraft after the plane receiving 12 of the Boeing Company, one of the modern generations and most prestigious companies the aircraft industry in the world.

And saw the private trade sector during the first quarter of this year, the export of 113 tons of sheep wool to the United Arab Emirates for the purpose of selling them to specialized companies in the textile industry, the largest amount is exported since 2003.

Iraq also witnessed the biggest economic event represented the establishment of the Baghdad International Fair in its 42 with the participation of 22 countries and more than 600 companies.

The announcement by the Ministry of Agriculture quest for self-sufficiency in strategic crops through the adoption of plans and programs prepared in this regard is an important economic events in Iraq.

It also represents the announcement of the Ministry of Industry for merging and reducing its companies to reach for 32 after it was 73 companies from the steps to the advancement rate of the national economy, as well as the agreement with the Ministry of Commerce to provide citizens Bmentojadtha to support the ration card, which is one of the most important economic events in terms of the domestic economy vocabulary.