IMF projects 2014 will be year of investment for Iraq; Estimates economic growth over next 5 years

Posted by on Oct 28, 2013 | Leave a Comment

A citizen’s Deputy Prime Minister for Energy Affairs Hussain al-Shahristani «The International Monetary Fund estimates indicate that Iraq will keep the rate of increase in economic growth over the next five years, while considered that the year 2014 will be a year of investment in the country, called for a non-

Deputy Prime Minister for Energy Affairs Hussain al-Shahristani «The IMF estimates indicate that Iraq will keep the rate of increase in economic growth over the next five years, while considered that the year 2014 will be a year of investment in the country, called the reliance on the oil as a source of economic and sole.

Shahristani said that «the International Monetary Fund (IMF) estimates indicate that Iraq will keep the rate of increase in economic growth over the next five years, indicating that« Iraq’s economic growth has seen a marked increase amounted to 10% during those years.

He added that «the increase has worked to raise the per capita income, which in turn made Iraq in the ranks of middle-income countries», calling for «not rely on oil as an economic and a single, and the exploitation of natural resources other in a balanced way and go to the construction industry through the establishment of factories petrochemicals, fertilizers and rely on agriculture and tourism sectors.

He stressed that «the government began inviting international companies to encourage them to invest», adding that «the year 2014 will be a year of investment in Iraq.

It is noteworthy that Iraq was launched in the month of May of 2010, the National Development Plan Five-Year 2010-2014, aims to reduce disparities and barriers between urban and rural areas, and the establishment of infrastructure and securing social services and jobs, and increase the GDP by 9.38 percent average annual growth during the period with the work plan to diversify the economy which currently depends on oil imports.

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