The Commission expects that the growth rate in Iraq during the current year 10.5%
Tuesday 28 August 2012 14: 45 GMT
Anticipated economic and Social Commission for Western Asia (ESCWA), United Nations, Tuesday, that growth rate in Iraq during the current year 10.5%, with the average in the Gulf would be 4.5%, noting that oil revenues have maintained a high standard under the "Arab spring".
Director of Department of economic development and globalization in ESCWA Abdullah dardari in press release got "Sumerian news", on the sidelines of the review highlighted the report of the survey of economic and social developments in the ESCWA region for the years 2011-2012, "oil revenues historically high level maintained under Arab spring", stating that "this has led to the creation of two poles apart for growth."
Dardari said that "channels that were linked to the rest of the States and lead to benefit from increased oil revenues have become virtually non-existent as a result of internal crises and political instability," he said, adding that "survey report concludes that the external economic environment in the ESCWA region by 2012 was positive due to the highest levels in the region historically oil revenues."
Drew dardari "ESCWA expects oil production to rise relatively in 2012 to approximately 20.9 million barrels per day to be 17.2 million barrels for the Gulf States, ESCWA also expects crude oil prices to remain on the sidelines during 2012 with high relative decline to $ 100 a barrel for 2012".
Dardari said that "the report is expected to decrease the GDP growth rate of 5.7% in 2010 to 5.1%, adding that" the Gulf will see a rise in the growth rate of 6.3% compared to 5.7% in 2010 and will keep Iraq on highest rate is 9.6%.
Dardari said that "the growth rate for the other part of the ESCWA region, which includes all of Egypt, Jordan and Lebanon, Palestine, Sudan, Syria and Yemen, 0.8% compared with 5.3 percent for 2010," he said, adding that "the report is expected to continue this rift between the two groups of States during 2012, where the growth rate in the GCC 4.5% and 10.5% in Iraq either the rest of the region will not exceed 0.6% growth rate.
Dardari said that "this growth will lead to polarization in the consolidation of dominant instability on socio-economic development in the region, noting that the unemployment rate in the ESCWA region is the highest in the world", stressing "the need for a framework for regional cooperation and integration promotes a means to accommodate the challenges of within the region itself."
Arabic organization was to ensure that investment and export credit, expected (15 may, 2012), Iraq economy by 2012 to exceed 12% growth rate, is the first Arab, outweighed the average annual income of $ 3000 Iraqi citizen.
Ministry of planning and development cooperation, in 2012, the percentage growth in Iraq in 2011 about 8.5% compared to 5.8% in 2010.
Recalled that Iraq was in May of 2010 national five-year development plan 2010-2014, the plan aims to reduce disparities and barriers between urban and rural areas and the creation of infrastructure and social services and jobs and increase gross domestic product by 9.38% annual growth rate during the plan period while working to diversify the economy which depends on oil imports.
ESCWA is the United Nations Economic and Social Commission for Western Asia, based in Beirut, Lebanon, is one of five regional commissions established by the United Nations Economic and Social Council