UN declares contain inflation in Iraq in 2015 despite the armed conflict
the United Nations said that Iraq was able to contain inflation through 2015, despite the armed conflict.
According to a report issued by the Department of Economic and Social Affairs of the United Nations and the United Nations Conference on Trade and Development and the five regional commissions of the United Nations and the World Tourism Organization, "inflationary pressures have eased in most countries in light of the global decline of commodity prices, while the inflation containment in Iraq, despite the armed conflict, , with hyperinflation continues in Syria in 2015 as a direct result of the current restrictions on foreign exchange, as Yemen has seen in the light of the intensification of the armed conflict, high inflationary pressures and inflation as much as 22 per cent in 2015.
"The geo-political unrest and armed conflicts and crises Human remains a heavy burden on Iraq, Syria and Yemen economies, where sweeping Iraq and Syria, in particular, conflicts have led to a large mass in the economic built, and highlights the effects on public finances through increased spending, and on foreign direct investment and tourism in the region.
"He noted that" cost large disputes caused the flight of large numbers of refugees to Europe.
"The report said that" downside risks Home in West Asia include extension conflicts outside of Iraq, Syria and Yemen; and a decrease of external demand for oil, which may have resulted from the recession more pronounced in China; in addition to the displacement the largest of capital and higher interest associated with the prices to tighten monetary policy in the United States.
The report showed that "the average GDP growth in West Asia in 2015 fell to 2 per cent and is expected to testify in 2016 accelerated a modest 2.4 percent, but is expected to remain Economic activity in the region is very weak compared with the average growth during the last fifteen years, and in 2017, it is expected that the oil-exporting economies benefit from a mild recovery in oil prices lead to a growth rate of around 3 per cent of gross domestic product regional total.
"The report" Unemployment remains high in West Asia, and is expected to be the region continues to record one of the highest unemployment rates among the developing countries, it is not expected that these rates are improving in light of structural unemployment extremely high, especially among young people, and also in light of numerous armed conflicts that require solutions with over the longer term, and in Jordan, Lebanon, is expected to witness economic prospects improved during the period under study, but they will remain linked to the conflict in Syria and benefit both countries sending remittances from migrant workers in the non-oil sectors of the Cooperation Council for the Arab States of the Gulf countries citizens. "
He pointed out that "sovereign wealth funds in Qatar and Saudi Arabia provide financial protection, it is due to the drop in oil prices, will adopt the prospects for growth in oil-exporting countries more heavily on non-oil economic activities, in Qatar and Saudi Arabia, where a large financial reserves enough, and continued fiscal spending on infrastructure projects to support GDP growth in 2015, and will continue on the same lines, albeit to a lesser extent, in 2016, Saudi Arabia has a reserve stock enough to cover nearly 5.3 years from the projected fiscal deficit for 2015 in contrast, is expected to testify next year set the conditions public finances in many other countries in the region.
"The report continued," the financial returns have fallen in oil-exporting countries with lower oil prices, limiting the field of financial measures to counter-cyclical about the slowdown in global demand, has led to the process of fiscal adjustment, and cut spending and reforms in support policies, it has all of Bahrain and Oman to cut support for some food, noting that there is also scope for reducing fuel subsidies in many countries, the average support of fossil fuels in the oil-exporting countries rates in the region are among the highest in the world, ranging between 53.3 per cent in Iraq and 78.5 per cent in Qatar, although it could represent a treatment support a political challenge, in 2014 the Yemen reforms to cut fuel subsidies, but retracted after months due to increased social unrest.
He said, "The expectations of the proceeds remain generally weak for both oil-exporting countries or the more diversified economies, and for some countries, such as Jordan and Yemen, the direct and indirect foreign aid has become essential to maintain the levels of Alanvaq.anthy http://www.alliraqnews.com/modules/news/article.php?storyid=27861