IMF: Oil and {} Daash draining Iraq
{International: Euphrates News} Upload head of the IMF mission to Iraq Christian Jooz, Tuesday, gangs} {Daash terror, continues to decline in crude oil prices, is responsible for the depletion of Iraq's economic resources.
He Jooz in a press statement after the conclusion of the visit the IMF mission to Iraq after 12 days of talks with Iraqi officials, said that " the economic situation in Iraq has been traumatized as a result of armed conflict and oil, especially in the balance of payments, and income from the general budget."
And made ​​bilateral meetings between representatives of the the Iraqi government, and the mission of the fund progress in reaching an understanding on economic policy, finance, and that can be supported through funding {credit}.
It will fund the mission during the coming period , according to a statement on assisting Baghdad in the debt burden, and take measures to protect the poor, and the introduction of reforms public finance, and improve the quality of public spending.
According to the international Monetary Fund , the rise in oil production has resulted in areas controlled by the Iraqi government to reduce the decline in the local economy, but the gap in the balance of payments of up to 5.1% of the deficit in GDP.
adopts budget Iraq by about 85% on oil revenues, prices of which have fallen about 70% since mid - 2014, where it is the combination {Brent trading} global below $ 40 a barrel currently.
this shrank real GDP in Iraq by 2.1% over the past year; because of the conflict with what is known as organized {Islamic state} terrorist outlawed in Russia, which led to the aggravation of deteriorating infrastructure, disrupting the movement of trade, and declining investor confidence.
at the end of last year , in 2015 caused a decline in Iraqi financial revenues, a drop in the country 's foreign exchange reserves worth 13 billion dollar, up to $ 54 billion. Ended