Dealers described the Iraqi market with "clinically dead" and "calls for economic revitalization of the construction sector to revive her."

2016/05/23 13:48


Counting the beautiful market dealers East of Baghdad, on Monday, that the market suffers if "clinically" as a result of the repercussions of the political and security situation and the current economic forecast to rebound the market again after the liberation of the city of Fallujah and begin the reconstruction of the regions affected by "terrorism", as an economist attributed the reason to the decline in oil prices and declining Government spending, stimulate construction sector will drive the market to its association with a lot of other sectors.

Quraishi said his shop selling food in a beautiful market, in Sadr City, East of Baghdad, in an interview with the (long press), that "the market is weak since the beginning of may 2015", attributing the reason to the fiscal austerity and economic and security repercussions. "

Quraishi said that "beautiful quasi-market movement paralysed because of security checkpoints to prevent or delay entry of trucks has led to sagging pretty market promotion resources, from five million to half a million dinars a day," he said, adding that "food prices rise slightly as a result of the imposition of the customs tariff which was reflected on the citizen and forced him to reduce his purchases.

Full said Mansi and imported appliances, in a talk to (run), that "the market suffer clinically since the events of June 2014, political, security and economic repercussions, forcing dealers to sell their wares at any price because they can fill their shops rent and wages of their employees," adding that "import movement said by 30% and continues to decline, perhaps half, with oxidizing merchandise in stores as a result of lack of demand, traders".

Forgotten, "said traders were expecting to see the market movement with summer and expect as a result of high demand for air conditioners, but their dreams faded away as a result of the worsening political situation and the continued deterioration of electricity, and citizens to keep their money for the unknown future," expected to "resume the market activity after the liberation of the city of Fallujah and begin the reconstruction of the regions affected by terrorism."

Turn the main economic expert said in an interview to flaw (range), that "the market contraction caused by low oil prices and declining Government spending", likely to be medium-term impact ".

He assured the fault State, represents a very large space of the economy ", pointing out that" wages salaries and capital expenditure into cash block represent an overall demand for goods and services, at the same time, stressing that "any dip which affects movement aggregate supply."

The Economist noted that "people's pessimism of the general situation improves the country made them prefer to hoard money for fear the worst and stopped paying wages and salaries, what in turn affected much in the market and overall economy," returned to "activate the construction sector will drive the local market for its association with many other sectors."

Iraq suffers from an economic recession because of fallout from declining world oil prices and the fight against terrorism, leading to an economic austerity plan application.