Iraqi News Friday Afternoon 4-15-22
Iraqi News Friday Afternoon 4-15-22
TLM724 Administrator BondLady’s Corner
The Central Bank expects the overall growth to rise to 8.9% for the current year.
Economie Thursday, 14 April 2022 8:45 PM Baghdad / National News Center The World Bank announced today, Thursday, the recovery of the Iraqi economy, while it expected that the overall growth for the current year would rise to 8.9%.
And the World Bank explained in a report, followed by the "National News Center", that "Iraq's economy has begun to gradually recover from the double shocks of the epidemic and the collapse of oil prices," noting that "oil and non-oil growth are on the right track to reach pre-epidemic levels with the increase in oil production. and easing the restrictions of the Corona virus.”
He added, "Financial and external deficits have returned to surpluses with the continued rise in oil prices," expecting "the medium-term growth to be driven by the oil sector, with the gradual cancellation of OPEC production cuts."
"The outlook remains subject to significant risks, including uncertainties related to the impact of geopolitical tensions, the ongoing pandemic, security challenges and climate change," the bank stated.
Recent Developments
The World Bank stated in its report that “estimates indicate that the real Iraqi GDP increased by 1.3 percent in 2021, after a sharp contraction of 11.3 percent in 2020,” noting that “the recovery was mainly driven by the non-oil sector, which grew By 6% in 9 months of 2021 year-on-year, supported by the strong performance of the highly telecom sectors including the transportation, accommodation and retail sectors.
Regarding the Iraqi agricultural sector, the bank stated that “this sector shrank by 17.5% and 36.8%, respectively, in the wake of severe drought, power outages and the rise in international prices of inputs during 9 months of a year,” explaining that “the oil GDP shrank by 4% ( on an annual basis) as Iraq adjusted its oil production in accordance with the OPEC agreement, and the general and core inflation rate rose to an average of 6% and 6.6% (on an annual basis) in 2021, respectively, after a 23% currency devaluation in December of 2020 and the recovery gradual domestic demand.
And he indicated that "the shift in the oil markets led to a significant improvement in the economic outlook for Iraq in the medium term," expecting that "the total growth in the current year will reach 8.9% with the end of the OPEC quotas and Iraq's production exceeding the pre-epidemic level of 4.6 million barrels per day."
The World Bank indicated that “growth in the coming years will continue at an average of 3.7% with the moderation of oil production,” expecting that “non-oil GDP growth will converge with the direction of potential long-term growth thanks to increased investments that will be financed through unexpected oil gains. “. https://nnciraq.com/121503/
The World Bank Announces In Numbers The Recovery Of The Iraqi Economy
Economie| 08:55 - 14/04/2022 Baghdad - Mawazine News, today, Thursday, the World Bank announced, in numbers, the recovery of the Iraqi economy, while it expected that the overall growth for the current year would rise to 8.9%.
And the World Bank said in a report, that "Iraq's economy has begun to gradually recover from the double shocks of the epidemic and the collapse of oil prices," noting that "oil and non-oil growth are on the right track to reach pre-epidemic levels with increased oil production and easing of Corona restrictions."
He added, "Financial and external deficits returned to surpluses with the continued rise in oil prices," expecting "the medium-term growth to be driven by the oil sector, with the gradual cancellation of OPEC + production cuts."
"The outlook remains subject to significant risks, including uncertainties related to the impact of geopolitical tensions, the ongoing pandemic, security challenges and climate change," the bank added.
And the World Bank confirmed in its report that “it is estimated that the real Iraqi GDP rose by 1.3 percent in 2021, after a sharp contraction of 11.3% in 2020, noting that “the recovery was mainly driven by the non-oil sector, which grew By 6% in 9 months of 2021 year-on-year, supported by the strong performance of the highly telecom sectors including the transportation, accommodation and retail sectors.
Regarding the Iraqi agricultural sector, the bank stated that “this sector shrank by 17.5% and 36.8%, respectively, in the wake of severe drought, power outages and the rise in global prices of inputs during 9 months of a year,” explaining that “the oil GDP shrank by 4% ( on an annual basis) as Iraq adjusted its oil production in accordance with the OPEC + agreement, and the general and core inflation rate rose to an average of 6% and 6.6% (on an annual basis) in 2021, respectively, after a 23% currency devaluation in December of 2020. and a gradual recovery in domestic demand.
And he indicated that "the shift in the oil markets led to a significant improvement in the economic outlook for Iraq in the medium term," expecting that "the total growth in the current year will reach 8.9% with the end of the OPEC + quotas and Iraq's production exceeding the pre-epidemic level of 4.6 million barrels per day." .
The World Bank indicated that "growth in the coming years will continue at an average of 3.7% with moderation in oil production." Ended 29 / h https://www.mawazin.net/Details.aspx?jimare=190209
The World Bank Announces The Recovery Of The Iraqi Economy
The World Bank announced, in numbers, the recovery of the Iraqi economy, while it expected the total growth to rise for the current year to 8.9%.
And the World Bank said in a report, that "Iraq's economy has begun to gradually recover from the double shocks of the epidemic and the collapse of oil prices," noting that "oil and non-oil growth are on the right track to reach pre-epidemic levels with increased oil production and the easing of Corona restrictions."
He added, "Financial and external deficits returned to surpluses with the continued rise in oil prices," expecting "the medium-term growth to be driven by the oil sector, with the gradual cancellation of OPEC + production cuts."
"The outlook remains subject to significant risks, including uncertainties related to the impact of geopolitical tensions, the ongoing pandemic, security challenges and climate change," the bank added.
And the World Bank confirmed in its report that “it is estimated that the real Iraqi GDP rose by 1.3 percent in 2021, after a sharp contraction of 11.3% in 2020, noting that “the recovery was mainly driven by the non-oil sector, which grew By 6% in 9 months of 2021 year-on-year, supported by the strong performance of the highly telecom sectors including the transportation, accommodation and retail sectors.
Regarding the Iraqi agricultural sector, the bank stated that “this sector shrank by 17.5% and 36.8%, respectively, in the wake of severe drought, power outages and the rise in global prices of inputs during 9 months of a year,” explaining that “the oil GDP shrank by 4% ( on an annual basis) as Iraq adjusted its oil production in accordance with the OPEC + agreement, and the general and core inflation rate rose to an average of 6% and 6.6% (on an annual basis) in 2021, respectively, after a 23% currency devaluation in December of 2020. and a gradual recovery in domestic demand.
And he indicated that "the shift in the oil markets led to a significant improvement in the economic outlook for Iraq in the medium term," expecting that "the total growth in the current year will reach 8.9% with the end of the OPEC + quotas and Iraq's production exceeding the pre-epidemic level of 4.6 million barrels per day." .
The World Bank indicated that "growth in the coming years will continue at an average of 3.7% with moderation in oil production." ". https://www.radionawa.com/all-detail.aspx?jimare=29024
Saleh: Iraq Is In Its Best Economic Conditions, And There Is No Need After Today To Borrow
Economie| 01:43 - 04/15/2022 Baghdad - Mawazine News The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Friday, that Iraq is living in its best financial conditions, while ruling out the government's resort to external borrowing.
Saleh said, in a statement to the official agency and reviewed by "Mawazine News", that "Iraq is living today in its best financial conditions with its modern history in terms of cash flows."
He called for "the necessity of employing these cash flows in productive investments for the resource of the national economy, as well as the operation of national human resources in activities that should be income-generating and wealth-promoting at the same time."
He added that "investment policies for large resources require operating them with economic joints in order to achieve financial and economic sustainability," noting that "exceptional circumstances are what impose a borrowing policy, including the deficit of government revenues due to the cycle of declining oil assets."
He stressed that "the rise in oil prices and the resulting large rentier revenues will obviate the idea of external government borrowing." Ended 29/92 https://www.mawazin.net/Details.aspx?jimare=190247
A Slight Decrease In The Price Of The Dollar During The Weekend In The Country
Economie| 09:29 - 04/15/2022 Baghdad - Mawazine News Today, Friday, the dollar exchange rates witnessed a relative decrease in the Iraqi local markets, as follows:
Baghdad: sale 148.250 dinars, buy 147.250 dinars,
In the north, sell 148.250 dinars, buy 147.250 dinars,
In the south, sell 148,500 dinars, buy 147,500 dinars.
https://www.mawazin.net/Details.aspx?jimare=190230
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