Iraq Deputy PM applauds how country was able to control inflation and reduce lending rates

Posted by on Nov 26, 2013 | Leave a Comment

 

Deputy Prime Minister for Energy Hussain al-Shahristani, Monday, that Iraq was able to control the inflation, as well as its ability to reduce the interest banks to 6%, indicating that it is able to maintain the rate of economic growth for long periods.

Shahristani said In his speech during the Business Forum and the Iraqi investment Frenchman in a good hotel, attended by “Alsumaria News”, “Iraq was able to control the inflation rate, which was more than 50% after 2003 and which is now up to 6%,” noting that “interest rates banks also decreased to 6% after it reached 20%. “

Shahristani said that “state control over inflation rates led to higher per capita GDP in Iraq, which has risen to six thousand dollars per year in 2012 after he had a thousand dollars a year , “expected to” this percentage will increase in 2013 significantly. ” Shahrastani pointed out that “the economic achievements of the task is one of the growth rates high in the world,” stressing that “Iraq is able to maintain the percentage of high growth not only for five years the next, but for periods beyond that. “

It was Merrill Lynch – Bank of America said in a report issued by the end of November 2012, according to a poll conducted that Iraq will be the fastest growing among the world’s GDP and will grow in the local production of up to 10.5 percent , followed by China with 7.7 percent.

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