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U.S. bank: Iraq fastest growing in the world because of the high production of oil


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U.S. bank: Iraq fastest growing in the world because of the high production of oil

Editor: CC | MM Monday, 26 T 2 2012 11:42 GMT


Alsumaria News / Baghdad confirmed U.S. bank that Iraq would be the country's fastest-growing in the world during this year and next, with registration rise in GDP to 10.5%, attributing the cause to increase its production of oil, while expected to achieve the country's growth rate of 9% until 2017 . said Merrill Lynch U.S. report got "Alsumaria News", a copy of it, that "Iraq will be the country's fastest economic growth in the world during the current year 2012 and next 2013", noting that "the GDP recorded an improvement of 10.5%." In What the next year, the bank predicted that "Iraq reports in 2013 a decline in the growth rate to 8.2%, but considered that this ratio is still impressive," stressing that "this decline will not stop him from being the country's most developed in the world for the second time" . the bank said on the other hand, that "expectations of the Economist Intelligence Unit indicate little difference in numbers," explaining that it "grew in Iraq by 8.5% for 2012, and predicted growth of 8.2% for 2013." But the bank returned to confirm that he expected to " recorded growth of Iraq's economy rate stable by 9% during the years between 2013 and 2017 ", adding that" This growth is due primarily to higher production in the country for oil. " and the Oil Ministry announced, in November 23, 2012, from higher oil exports and revenues with the end of 2012 Despite the bad weather experienced southern ports, while confirming that the largest share went to Asian markets. bank warned in its report that "acts of violence, especially those located in the central areas in the capital Baghdad, will continue to disrupt the economy," but he also said that "marked improvement in the security situation will help to boost economic activity in some southern provinces and Western, which is more homogeneous than the religious aspect, which in turn would lead to increased wholesale and retail." He Bank also noted that "China will be the second fastest country growing in the world for 2012 , with registration GDP improved by 7.7%, "stressing at the same time that the" top ten markets in the world will record a growth of only 5.5% this year due to problems with the Organization for Economic Cooperation and Development. " and was former British Prime Minister Tony Blair said, during Conference Iraqi Business Council British fourth held in London on November 6, 2012, that Iraq will become the fastest growing countries will see this year a growth rate of 9 percent, in a time of rising oil revenues, while pointing out that its economy has doubled this year several times compared to its size 10 years ago, was likely to register the country's revenues increased threefold by 2020. The U.S. Agency for International Development announced, in (11 October 2012), the allocation of $ 200 million to finance various projects in Iraq during the current year 2012, with Ezzat reduce funding for projects to improve the security and the ability of Iraq's financial, stressing the country's need to develop administrative capacity and technical and not for money. and The Oil Ministry has signed a mid-July contracts last initial exploration and investment in patches exploratory 8, 9, 12 with international oil companies won licensing round fourth began on May 30 for 12 exploration blocks in different parts of the country, including seven gas fields and five oil. identified Organization of Petroleum Exporting Countries (OPEC) quota Iraq three million 800 thousand barrels a day, but does not issue only 2.5 million barrels per day at the present time, and is determined export share agreement between the Member States and WHO, depending on certain criteria most important reserves of each country, with the Iraq demands increase its share based on what he says is "new oil discoveries" has. Iraq exports crude oil from the ports of Basra and Khor al-Amaya on the Arabian Gulf , as well as the Turkish port of Ceyhan on the Mediterranean Sea, and by tanker trucks to Jordan, and percentage of Iraqi exports from the Basra oil about 90 percent, while the remaining issue of Kirkuk oil fields north of the country through the Turkish port of Ceyhan.

And I like to add this Iraq is a Emerging market  and to define we go to which means noun

a market in a less developed country whose economy is just beginning to grow: emerging markets open to foreign investors. and the World English Dictionary calls it — n

a financial or consumer market in a newly developing country or former communist country..So hang tight folks, don't let all this Doom and Gloom get to ya.. and Enjoy the Ride.. B)

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my own personal gdp went up much faster and more than that .. 2 years a go my gdp was 30 cents .. the next year i made 25,000 dollars .. a rise of 37 million percent ..

i guess what it was in the first place .. 10 % of 10 cents isnt very much .... what the gdp went up to 99 billion from 90 billion ..this sounds like a re- election campaign add ..

like obama saying hes gonna cut the deficit by 4 trillion over 10 years .. meaning hes going to raise the debt by 6 trillion over 10 years ..since the deficit is over 1 trillion a year ..

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