Economic center: U.S. debt crisis would hurt the Iraqi economy from low world oil prices

Posted by on Oct 28, 2013 | Leave a Comment

20-10-2013 06:51 AM
Baghdad (newsletter). The President of the economic information center predicted Dergham Mohamed Ali, the Iraqi economy was affected by the debt crisis, which will lead to lower oil prices in the world oil market.

He Mehmet Ali (News Agency): to increase the debt of America would not lead directly to the recession, but Government closure effect in one form or another on the income of the employees who received the compulsory leave without pay, lack of movement and sell to retail what born near recession in the US economy.

He noted: the u.s. economy is the largest globally and within the area of the dollar more (50%) Of the world’s economies, including oil economies as the Iraqi economy, pointing out that the price of oil and the value of the Iraqi currency linked to the dollar in world markets and the stability of its price depends on the stability of American markets.

He continued that in the event of any reflections on the American market, it reduces global demand for oil, the fact that America is the biggest importer of oil in the world, and this drop in oil prices around the world.

Added: Add the value of the dollar and this will affect the Iraqi economy, especially since he is now ready to move to a basket of currencies, global link to this difficulty and impact strength the dollar in the domestic market that Iraq States subject to the phenomenon of ‘ dollarization

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