Economic: Iraq’s national economic growth on a steady decline

Posted: August 21, 2013 in Iraqi Dinar/Politics
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21-08-2013 10:30 AM
Baghdad (newsletter). Economic analyst Ibrahim Al-Mashhadani warned of continued low growth rate of the economy index ALO ne due to dependence on oil as a major source of State revenue, indicating that the data of the Ministry of planning in respect of misleading and false economy.

He said Mashhadani (News Agency): the data issued by the Ministry of planning for the growth of the national economy are misleading and untrue it depends on the rate of oil production and export the budget rate (95%), according to other sectors such as agriculture, industry, tourism and services and others.

He added: the global economic metrics depend on vital sectors of oil, energy, because oil is a cash crop is affected by certain conditions, making its revenue.

He noted: the Iraqi economy growth steady decline because of the lack of similar production sectors of the oil industry, warning of the seriousness of the continuing dependence on oil revenue because it will affect the revenue of the general budget.

This has been confirmed by the Ministry of planning in the statements issued earlier that the Iraqi economy is growing considerably, particularly after increased production and export of Iraqi crude oil

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