British report: Falling monthly cash flows in Iraq to about $ 2.5 billion

Monday 04-04-2016 | 8:41:59

Twilight News / Financial Times newspaper published a report of its correspondent Erika Solomon of Baghdad, entitled "Iraq seeks to bridge the economic gap."

Solomon says that on the banks of the Euphrates River on the outskirts of Baghdad, there are hundreds of displaced families who have fled Anbar province torn by wars.

Solomon says that displaced people near the tents there is a part of the iron structure of the bridge is incomplete construction, is the case of this bridge suitable for Iraq's economic picture, where Iraq's economy is suffering from a lot of problems and led political differences in the country to disrupt construction of the bridge.

Said Adel Ashour, an Iraqi in the XXIX live in informal plastic tent near the river after he fled from his home town, which is controlled by the "Islamic State," "no future I see it. All I see is a disaster. I know people in the cases of joining the Daash. man can destroy his country even feed his family. "

Solomon says that with the continuation of the fight against the "Islamic state", is facing some 3.3 million Iraqis displaced many of the threats. And Ststvhal humanitarian and security crisis in the event of running out of money in Baghdad. "

Solomon says that the economic problems in Iraq exacerbated by the lower oil price. Oil accounts for 90 percent of the country's revenues, and resulted in significant decline in oil prices to decline in the monthly cash flows in Iraq to about $ 2.5 billion, which is not even enough to pay salaries of government retirement and pension amounting to the monthly value of about four billion dollars.

He adds that the World Bank, which fears the collapse of one of the strongest economies in the Middle East, pledged $ 1.2 billion for Iraq, which is much less than the nine or ten billion dollars that the Iraqi government is seeking to obtain them from foreign investors.