The most prominent events of the economy and money in Iraq through 2013

Posted: December 28, 2013 in Iraqi Dinar/Politics
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Saturday 28 December 2013

witnessed the 2013 events, economic prominent left a clear imprint on the level of the national economy, starting from the start of initial production fields Garraf and crazy petroleum giants and rising oil exports, through the rise back up Iraq’s hard currency, and the development and the largest federal budget in the history of Iraq, down to the the conclusion of a memorandum of understanding with one of the Swiss companies to set up a refinery in Missan.

“Alsumaria News” regain bar the most important economic events that had occurred distinctive in the country in 2013, which was the oil sector hero unchallenged, as well as important events influenced the monetary policy, economic, and opened horizons promising for the development of Iraq’s air transport, as well as other events, including the high production of strategic crops dramatically, and the establishment of the Baghdad International Fair, but in 2013 was not without its failures in some important economic sectors, including the electricity sector, and the high inflation rate gradually beginning in 2013.

Below a list of the most prominent economic events that gripped Iraq in 2013:

(April), high oil exports to Iraq for the first time in its history, reaching these exports to 78.7 million barrels. (September 21), the start of the export operations of Gharraf field in the province of Dhi Qar card 35 000 barrels per day, and being developed by a consortium of Malaysia’s Petronas and Japex of Japan, and is one of the fields discovered but not yet developed. (September 25), the Kurdistan region signed package contracts for billions of dollars with Turkey issued thereunder region oil and gas to the world markets through pipelines passing through Turkey. (October 6), begin initial production of oil from Majnoon card 175 000 barrels per day by a consortium of Shell Alholdnih and Malaysia’s Petronas. (December 23), Turkey announces the start of the flow of oil on a trial basis through the new pipeline runs from Iraq’s Kurdistan to Turkish port of Ceyhan on the Mediterranean. while economic events for the transport sector in 2013 was highlighted by: (August 14), the Baghdad International Airport receives first Boeing 737/800 out of the 45 aircraft contracted by Iraq with the Boeing Company of America. saw in 2013 milestones at the level of the transport sector, including the opening of a new airline with some countries and from the line of flight Baghdad Stockholm, line of flight Baghdad Georgia and the line of flight Baghdad Kuala Lumpur, line Baghdad Frankfurt, as well as the arrival of the first aircraft to Kuwait to Najaf airport in the (October 2013). ( November 8), Iraqi Airways signed a contract with the company Mumbander Canadian to buy five new aircraft. , and at the level of the CBI, has witnessed in 2013, the bank said high reserves of Iraq in hard currency for the first time in its history to 76 billion and 500 million dollars , after it was 74 billion dollars by the end of last May. while The Ministry of Finance (November) and in the words of its minister Ali Shukri, that the budget next year 2014 amounting to 174 trillion dinars and a deficit of up to 27 trillion, and this budget will be the highest in the history of Iraq in if approval were the current year budget has reached 138 trillion dinars, and the deficit will reach 18.8 trillion dinars. while the Ministry of Agriculture, they have achieved a major breakthrough in the production of strategic crops in 2013, most notably: (September), the Ministry of Agriculture announces receipt of three million tons of wheat from farmers and peasants, stressing that this amount to meet 85% of the domestic requirement of the crop. At the same year, said the Ministry of Agriculture high amounts received from the maize crop to 250 thousand tons and 90% compared to the production of last year, which amounted to 140 000 tonnes. (September 9) , Ministry of Agriculture announces, for achieving self-sufficiency in vegetables and fruits, indicating that the import of some crops codified and certain period of time. (January 22), the Department of Agriculture Babylon numbered more than 70 thousand heads of animals across the province during the campaign, the Grand National, in use a new electronic system to count the animals. The main economic events of the Ministry of Commerce in 2013 was, the establishment of the Baghdad International Fair in its 40 th (October 10, 2013), with the participation of 17 countries, and more than 700 local companies and Arab and foreign countries, and witnessed the signing of agreements and contracts for many of States and the participating companies and the institutions of the Iraqi state. , and other events associated with the Ministry of Commerce and the run-up to the Baghdad Expo, is demonstrated employees of the General Company for Trade of construction materials in Babylon to demand the lifting of soothing their salaries retroactively like other ministries, in (April 4, 2013). except that the year 2013 was not without its problems and failure in some important economic sectors, including the electricity sector, in addition to the rise in inflation gradually with the end of the year 2013. despite pledges to the Ministry of Electricity to achieve self-sufficiency in energy by the end of 2013, which confirmed that it will reach 13 000 MW with the entry A large number of power stations that contracted them for the service, but it failed to do so. (April 6), and Electricity Minister Abdul-Karim al-Jumaili, calls for the owners of private generators to sell to labs hard as iron scrap (scrap). (June 1), the opening of the station transformative model for the production of electrical power upto 25 MW at a cost of three billion dinars in the city of Hilla. (October 6), the Ministry of Electricity announces processing Baghdad and other provinces to 24 hours, indicating that the national system has achieved a surplus in production, but it failed after that to maintain the continuity of power electrical, did not materialize this continuity only for 25 days during the fall season only with less processes energy demand. followed by invocation of the ministry, that the rain was behind the power outages across Iraq, despite the passage of more than a month on Htolha. has seen in 2013 also , the high rate of inflation increased by 5.8 percent at the end (November), supported by rising prices of transport services, fuel and lighting, and the prices of vegetables. provinces also witnessed the events economic banner, In (January 23, 2013), and signed the local government in Babylon, a memorandum of understanding with South Korea to implement a number of projects in the areas of transportation, housing, industry and agriculture. (March 19), the central government added to the Government of Babylon 70 billion Iraqi dinars from the budget for regional development. (April 7), the opening of the exhibition Babylon Second International Trade and Industry, with the participation of more than 60 European companies, Arab and Iraqi various fields. (April 27), the Investment Commission of Babylon granted licenses investment to two local companies in the sectors of tourism, housing, worth 25 billion dinars in the region of the skull (7 km north of Babylon) to set up a resort entertaining tourist and other residential near him. (August 6), the Investment Commission Babel signed a memorandum of understanding with Indonesian ties “wide in Southeast Asia,” indicating they relate to the implementation of projects in the fields of oil, housing and commerce in the governorate. (August 25), Minister of Municipalities and Public Works just Mhodr, opened the massacre of Hilla, the new cost of 10 million dollars in the area Rabaat (5 km south of Hilla). (October 15), the opening of the City Games land of Babylon, at a cost of 15 million dollars. (October 28), the Investment Commission of Babylon, and signed a memorandum of understanding with the Malaysian company specialized in the implementation of the island Almhnanwip tourist, as shown Company willingness to cooperate in the establishment of airport transport business in the province. (November 6), the Investment Commission of Babylon and signed a memorandum of understanding with the company Ondnoch to create an oil refinery and plant petrochemical industries south of the province, while the company promised the establishment of a private hospital and a private school and stations, water and electricity to serve the region free of charge. ( November 26), the Iranian consul in Karbala thanked God Taheri, agreed with the local government in the province of Babylon on an exhibition of Industries of Iran in the province during the coming period. (December 12), the local government in the province of Babylon, called on the Venezuelan government to the opening of an office and the offices of consulting for investment in the province, while stressing the charge d’affaires of the Venezuelan ready his country’s companies to engage in investment to maintain and encourage optimally. (December 18), the Investment Commission of Babylon and signed a contract with an Iranian company to create a city games central city of Hilla, at a cost of ten million dollars, indicating that the city will have 30 games are all environmentally friendly.

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