IMF calls for oil-exporting countries to diversify their economies

[yota691]

IMF calls for oil-exporting countries to diversify their economies

 

 

Economy News _ Baghdad:         Called on the International Monetary Fund on Tuesday, the oil-exporting countries to continue to work to diversify their economies, urging them to continue their efforts to reduce the deficit and build on the progress made in curbing spending.   The IMF said in a report published on its website and seen by "Economy News", "on the oil-exporting countries in the region to continue to work to diversify their economies away from its focus on hydrocarbons and directing them to the non-oil sectors to ensure a consistent and sustainable growth."   The Regional Economic Outlook for the Middle East and Central Asia issued by the Fund in Dubai today, that these countries should continue to implement its plans to diversify their economies and implement policies supporting employment opportunities and productivity, Kaslahat education and infrastructure.   She noted that despite narrowing the fiscal deficit in oil-exporting countries, a gap they must continue efforts to reduce the deficit and build on the progress made in curbing spending, as in the case of Algeria and Bahrain.   According to the report, the decline in the fiscal deficit of 10% of GDP in 2016 is expected to levels less than 1% in 2022, which represents a significant improvement helps build rigidity.
Views 8   Date Added 05/02/2017 - 11:13   Last updated 02/05/2017 - 12:05   No. Content 7387

[Luigi1]

Luigi found this news article of Dinarian interest...

 

Iraq To Loosen Purse Strings...May 4, 2017

in Iraq Banking & Finance News, Politics

By John Lee. A new report from the International Monetary Fund (IMF) predicts more government spending in the current year. In its Regional Economic Outlook for the Middle East, the IMF says: “In Iraq, the fiscal stance is expected to loosen somewhat as the receipt of previously delayed donor financing relaxes the cash constraint faced […]

 

read more at Iraq Business News.

[davis411]

great

so write davis a chq plz

[zzztop]

And the answer from the oil producing countries will be "yeah, we'll get right on that, not!"  The IMF has been saying this for over a decade and they never listen.  Thanks for the post.

[Officiallytook]

Maybe a fall in other ME Nations currency rating while Iraq's rises since they've been working along side WB IMF and UN I dunno just thinking out loud again 😏

[ChuckFinley]

The need to get a diversify their country economy.  

[yusofsabri]

based on market economy