Iraqi market traders describe as "clinically dead" and calling for an economic "revitalization of the construction sector to revive"

Views 64 Date 24/05/2016 - 19:44

BAGHDAD / Economy News ...

Male traders in the beautiful eastern Baghdad market, the market is experiencing a "clinical death" as a result of the repercussions of the political, security and the current economic conditions, and predicted that the market is rebounding after the liberation of the city of Fallujah and begin the reconstruction of the affected areas of "terrorism."

The economist attributed the reason to the drop in oil prices and the decline in government spending, he stressed that the revitalization of the construction sector and construction will move the market is related to many other sectors.

Said Ali al-Quraishi, owner of a food shop in the Jamila market in Sadr City, eastern Baghdad, in an interview, said that "the market has become weak since the beginning of the month of May 2015," attributing the cause to "fiscal austerity and the repercussions of the economic and security situation." Quraishi said that "the movement in the market pretty partially paralyzed due to the security checkpoints to prevent or delay the entry of trucks led to Ward wholesalers fell in the beautiful market of five million to half a million dinars a day," pointing out that "food prices rose slightly as a result of the imposition of tariffs reflected on the citizen and forced him to reduce his purchases. "

For his part, full-Mansi said, importer of electrical devices, said that "the market suffers clinically dead since June events of the year 2014, the political, security and economic repercussions, which traders were forced to sell their wares at any price to be able to bridge the rent of their shops and the wages of their workers,"
asserting that " import movement said by 30% and is continuing to decline perhaps half with the accumulation of goods in the stores traders as a result of lack of demand. "

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

In turn, he said the economist Maytham and coffee, the market contraction was caused by lower oil prices and declining government spending, "likely" to be a medium-term impact. "

Laibi stressed that "the state represents a large portion too of the economy," pointing out that "the wages of salaries and expenses of investment turn into cash bloc represents an overall demand for goods and services," stressing at the same time, that "any retreat which affects the overall width of the movement."

He noted economist that "pessimism people from improving the general situation in the country made them prefer hoarding money for fear the worst and stopped payment of wages and salaries, which in turn greatly impacted on the market and the overall economy," returned to "reactivate the construction sector and construction will move the local market for its association with many other sectors." .

Iraq has suffered from the recession because of the repercussions of the decline in world oil prices and the war against terrorism, which led to the application of economic austerity plan.

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