Iraq falls to 172th place to do business next year

[yota691]

Iraq ranked 172 in the World Bank's ease of doing business index

Economie

2019-10-24 | 07:33

 

516 views

 

 

Iraq ranked 172 out of 190 countries in the World Bank's annual ease of doing business report, a report showed on Thursday.

Came New Zealand in the first place as it offers the best business environment, followed by both Singapore and Hong Kong , came Denmark ranked fourth this year, and then came South Korea finished fifth while both America and came Britain in sixth and eighth place respectively, Somalia is bottom of the list preceded by Eritrea and the Republic of Venezuela.

 

 

The Iraq ranked 172 among 190 countries in the index of the World Bank 's annual for "ease of doing business."

Ease of Doing Business is based on different evaluation criteria in 10 items related to doing business - starting with ease of starting a business, handling building permits, introducing electricity, registering property, obtaining credit, protecting minority investors, paying taxes , Cross-border trade, signing of contracts, dealing in case of default.

[yota691]

Thursday, October 24, 2019 03:34 PM

| The number of readings: 25

Iraq at the bottom of World Bank's ease of doing index

Iraq ranked 172 out of 190 countries in the World Bank's annual ease of doing business report, a report showed on Thursday.

New Zealand came first with the best business environment, followed by Singapore and Hong Kong. The existing Somalia is preceded by Eritrea and the Republic of Venezuela.

Iraq ranked 172 out of 190 countries in the World Bank's annual ease of doing business index.

Ease of Doing Business is based on different evaluation criteria in 10 items related to doing business - starting with ease of starting a business, handling building permits, introducing electricity, registering property, obtaining credit, protecting minority investors, paying taxes , Cross-border trade, signing of contracts, dealing in case of default.

[bostonangler]

16 minutes ago, yota691 said:

Thursday, October 24, 2019 03:34 PM

| The number of readings: 25

Iraq at the bottom of World Bank's ease of doing index

Iraq ranked 172 out of 190 countries in the World Bank's annual ease of doing business report, a report showed on Thursday.

New Zealand came first with the best business environment, followed by Singapore and Hong Kong. The existing Somalia is preceded by Eritrea and the Republic of Venezuela.

Iraq ranked 172 out of 190 countries in the World Bank's annual ease of doing business index.

Ease of Doing Business is based on different evaluation criteria in 10 items related to doing business - starting with ease of starting a business, handling building permits, introducing electricity, registering property, obtaining credit, protecting minority investors, paying taxes , Cross-border trade, signing of contracts, dealing in case of default.

 

 

Good read... At least Iraq isn't the very bottom. This gives them a goal to work on and move up a couple pegs.

 

B/A

[yota691]

The IMF defines the "engine of demonstrations" in Iraq and the region

 

 

 2019/10/28 09:56:05

 

The International Monetary Fund (IMF) said on Monday that unemployment, along with sluggish economic growth, is the driving force of demonstrations in many Arab countries, at a time when Iraq, Lebanon and other countries are protesting against corruption and economic deterioration.

In a report on economic performance in the region, the IMF said social tensions in Arab countries are one of several factors that have kept economic growth in the region weak.

Two weeks ago, the IMF expected growth in the Middle East and North Africa to be only 0.1 percent, from 1.2 percent in April, reflecting weakness in the economies of a crisis-hit region.

Jihad Azour, the fund's director for the Middle East and Central Asia, told AFP that "the levels of growth in the countries of the region are lower than it is needed to deal with unemployment."

"We are in an area where the youth unemployment rate exceeds 25 to 30 percent, and to address this needs to grow between 1 and 2 percent."

Lebanon has witnessed more than ten days of mass demonstrations condemning corruption and economic deterioration, and demanding political change and job opportunities.

In Iraq, thousands are taking part in demonstrations for the same reasons, as part of a protest movement that has killed and injured hundreds. Demonstrations are taking place in Sudan, Algeria, Egypt and other countries.

The region has witnessed massive protests in 2011 called the "Arab Spring" to demand political and economic reforms, but it collided with wars that broke out in Syria and Libya in particular.

Lebanon's economy is suffering from a sharp decline, a rising deficit and a trade imbalance.

Azour said that the government should "work quickly to rectify these imbalances and restore confidence (citizens) by reforming the financial situation and reducing spending."

The IMF also warned in a report on Monday that government debt rates have become very high in some countries in the region, exceeding the threshold of 85 percent of GDP as a general rate, and more than 150 percent in Lebanon and Iraq.

"The cost of debt is high, and it prevents the investments necessary for the region's long-term economic future," the IMF said.

A severe economic recession

This month, the IMF sharply lowered its growth forecast for Saudi Arabia and Iran, the two largest economies in the Middle East, on the back of US sanctions, regional tensions and falling oil prices.

The IMF predicted Iran's economy to contract by 9.5 percent in 2019 after forecasting a 6 percent contraction in April, with Saudi Arabia growing by 0.2 percent against a previous forecast of 1.9 percent.

This is the worst expected performance of the Iranian economy since 1984, when the Republic was at war with Iraq.

It is also the worst growth forecast for the rich kingdom since the Saudi economy shrank by 0.7 percent in 2017.

The IMF said in its report on Monday that the Iranian economy has entered a phase of "severe economic recession."

A 3 percent drop in forecasts between April and October suggests a significant deterioration in Iran's economy since the United States began tightening sanctions on Iran's oil sector in May.

Iran's economy contracted in 2018 by 4.8 percent.

Saudi Arabia, one of the world's top oil exporters, has cut government subsidies on fuel, imposed taxes on foreigners working on its territory, a 5 percent value-added tax and raised prices for soft drinks, energy drinks and tobacco.

At the end of September, Fitch announced a downgrade of Saudi Arabia's credit rating by one notch due to "geopolitical and military tensions in the Gulf region" after unprecedented attacks on two oil facilities in the kingdom.

[horsesoldier]

“ Great to see the IMF has stepped right in to lend a hand “ ... this is what’s known as Sarcasm 

 

With all that’s been going on over there and my near daily readings of M.E. News for now going on 40 years....I couldn’t have figured this out. .... more Sarcastic remarks about the growing Poop 💩 Storm available upon request.

Kinda grumpy.... lost a dear friend last night to Mesothelioma. She was a real Diamond, a wonderful lady. So I’m gonna take out my grumpy on these Pin Head Crooks over there 👉 Iraq 🇮🇶 

[CSM (R) Thack]

2 hours ago, horsesoldier said:

“ Great to see the IMF has stepped right in to lend a hand “ ... this is what’s known as Sarcasm 

 

With all that’s been going on over there and my near daily readings of M.E. News for now going on 40 years....I couldn’t have figured this out. .... more Sarcastic remarks about the growing Poop 💩 Storm available upon request.

Kinda grumpy.... lost a dear friend last night to Mesothelioma. She was a real Diamond, a wonderful lady. So I’m gonna take out my grumpy on these Pin Head Crooks over there 👉 Iraq 🇮🇶 

Truly sorry to hear about your friend!  By all means VENT away!!👍🇺🇸

[horsesoldier]

1 hour ago, CSM (R) Thackrey said:

Truly sorry to hear about your friend!  By all means VENT away!!👍🇺🇸

 

Thanks CSM for your kindness. These fools sure do give us quite allot of ammo to vent on, don't they 

[6ly410]

Iraq protests not impacting country's oil production yet, IMF official says

https://www.thenational.ae/business/economy/iraq-protests-not-impacting-country-s-oil-production-yet-imf-official-says-1.929940

 

Iraq's economy set to expand 3.4% in 2019, from a 0.6% contraction in 2018, on rising public spending

Iraq's oil production and oil fields have not suffered any effect from the nationwide protests, according to the International Monetary Fund.

Opec's second-biggest member has been gripped by upheaval in recent weeks, as people protested against economic hardship, poor public services, unemployment and corruption.

"We are concerned with the violence and loss of life, we are closely watching and so far there is no impact on oil production or fields. With the presence of ample reserves, it's not yet expected that this could have an impact at the moment on oil price," Jihad Azour, director of the IMF's Middle East and Central Asia Department, said at a press conference in Dubai on Monday.

Despite the country's vast oil wealth, many Iraqis are living in poverty or with limited access to basic provisions, as the nation struggles to recover from years of conflict. Rounds of live bullets, tear gas and other violence has left more than 200 dead since the demonstrations began in early October.

 

The IMF said oil prices are "decoupling" from regional geopolitical tensions, with incidents in the region leading to a short-lived spike in oil prices. The muted reaction of oil prices to political risk is because of increased supply from US shale oil production as well as a global economic slowdown dampening demand.

 

Iraq's economy is expected to expand 3.4 per cent in 2019, from a 0.6 per cent contraction in 2018, on higher public spending and a "modest" increase in oil production, the IMF said in its Regional Economic Output report.

"The economy needs to create more jobs and the impact of recent security developments requires more spending on rebuilding infrastructure," Mr Azour said in an interview.

Across the border, Iran's economy is forecast to shrink 9.5 per cent in 2019, from a contraction of 4.8 per cent last year, due to the impact of US sanctions, the IMF said.

In 2020, economic growth in Iran will be flat and the IMF urged authorities to act quickly to address the impact by realigning the exchange rate with the market rate, reforming the banking system and creating a safety net for low-income people to alleviate the impact of inflation, Mr Azour said. Inflation rates will reach around 35 per cent in 2019 and hover around 30 per cent next year.

 

Updated: October 28, 2019 06:39 PM

[CSM (R) Thack]

11 hours ago, horsesoldier said:

 

Thanks CSM for your kindness. These fools sure do give us quite allot of ammo to vent on, don't they 

Hooah...yes they do! Not surprising though, (my experience, and I’m sure it’s yours as well, when dealing with the military of Iraq and Afghanistan) is they move at the speed of snail snot, schedule meetings (to have meetings) then reschedule! Absolutely  no sense of urgency and of course corruption runs deep...at all echelons!!!👍🇺🇸

[yota691]

World Bank: Iraqi economy is slowly recovering

 

 

- Readings: 403

 

The World Bank announced that the Iraqi economy is slowly recovering in 2019.
The World Bank said in a report on Iraq, "In the first half of 2019 GDP grew by 4.8% compared to the previous year, which led to a reversal in the contraction in the economy during the past two years."
He added that this growth comes as a result of the increase in crude oil production (up to 6.3% so far) and the recovery in non-oil economic activity, an increase of 5.6% in the first half of 2019 compared to last year.
He stressed that "the recent recovery is due to improved levels of rainfall and the production of record agricultural crops and improved electricity production and expansionary fiscal policy linked to increased wage bill and public consumption."
"Such positive developments are expected to raise real GDP growth to an estimated 4.6% by the end of the year," he said.
He pointed out that "the Iraqi economy outperformed its counterparts in the region this year, but the dynamics of the population requires much higher growth to maintain the current level of prosperity.

[yota691]

World Bank: Iraqi economy is slowly recovering

 

World Bank Logo

money and business Economy News - Baghdad: The World Bank announced that the Iraqi economy is slowly recovering in 2019. "In the first half of 2019, GDP grew by 4.8% compared to the previous year, which led to a reversal in the contraction of the economy over the past two years," the World Bank said in a report on Iraq seen by the Economy News. . He added that this growth comes as a result of the increase in crude oil production (up to 6.3% so far) and the recovery in non-oil economic activity, an increase of 5.6% in the first half of 2019 compared to last year. He stressed that "the recent recovery is due to improved levels of rainfall and the production of record agricultural crops and improved electricity production and expansionary fiscal policy linked to increased wage bill and public consumption." "Such positive developments are expected to raise real GDP growth to an estimated 4.6% by the end of the year," he said. He pointed out that "the Iraqi economy outperformed its counterparts in the region this year, but the dynamics of the population requires much higher growth to maintain the current level of prosperity. Views: 270   Added on: 30/10/2019

[yota691]

World Bank: Legislative Stability in Arab Countries Improves Foreign Investment

The World Bank

 03 Nov 2019 05:59 PM
Cairo - Mubasher: Arab countries can improve their chances of expanding foreign investment by achieving legislative stability, enforcing the law on dispute settlement and preserving property rights, the World Bank's first vice president said .

Speaking on the sidelines of the opening of the Sustainable Development Week conference on Sunday, Mahmoud Mohieldin said it is important to invest in local capacities and create a favorable climate for local investors by providing a new approach in areas with high growth opportunities, such as the telecommunications sector. And education, according to the Middle East News Agency "ASHA".

On how to get out of Arab countries, the World Bank deputy said: "This can be done through the processes of localization of development and investment in the possibilities available."

Mohieldin said that political will is needed and the conflicts in the region are resolved .

He pointed out that the right opportunity to invest in human capital, and improve the conditions of education and attention to health care, in addition to investment in infrastructure and digital policies .

The "Sustainable Development Week" conference is organized by the General Secretariat of the League of Arab States in cooperation with the Ministry of Planning, Follow-up and Administrative Reform and the partnership of the World Bank and the United Nations.

[yota691]

The World Bank assesses the situation of Iraq and the future of its economy

Date: 2019/11/4 11:49 • 190 times read

The World Bank issued its report on Iraq and its outlook from the previous years.

The report showed the following results:
1. In the absence of structural reforms and accelerated reconstruction, Iraq's recovery may be short-lived, and growth is expected to continue its positive path and peak at 5.1 per cent in 2020.However, growth is expected to slow to 2.7 per cent. cent in 2021.
2. higher spending with lower oil prices will lead to the expected fiscal deficit at 3.3 percent of GDP in 2020 and will remain in a similar scale in 2021. It is expected that the ongoing fiscal deficit will raise public debt to more Of 48 per cent of GDP by 2021.
3. Lower oil prices and increased imports will keep the current account balance in deficit, with GDP expected to average 4 per cent over the period 2020-2021. This is expected to be financed in part by the accumulation of previous international reserves. As a result, the CBI's foreign reserves are expected to fall to an estimated US $ 51 billion (or 5.7 months of imports) by 2021.
The report also illustrates a range of challenges facing Iraq
- a fragile political environment
- total dependence on revenues. Oil
- lack of services, corruption and lack of jobs

[yota691]

In the World Bank report on Iraq and its outlook for the coming years

by vBulletin® by Ali Ejam Iraq News , Economy 3 Hours ago

Follow “احات التحريرÇ التحرير Çá التحرير التحريرÑíÑ”

The World Bank has released its report on Iraq and its outlook for the coming years
.
Growth is expected to continue its positive track and peak at 5.1 per cent in 2020.However, growth is expected to slow to 2.7 per cent in 2021.

2. Higher spending with lower oil prices will lead to an expected fiscal deficit of 3.3 per cent of GDP in 2020 and will remain in a similar range in 2021. The persistent fiscal deficit is expected to raise public debt to more than 48 per cent of GDP. GDP by 2021.

3. Lower oil prices and increased imports will keep the current account balance in deficit, with GDP expected to average 4 per cent over the period 2020-2021. This is expected to be financed in part by the accumulation of previous international reserves. As a result, it is expected that the foreign reserves of the Central Bank of Iraq is reduced to an estimated US $ 51 billion (or 5.7 months of imports) by the year 2021.
As the report set of challenges facing Iraq , namely:
* fragile political environment
* total dependence on Oil revenues
* Lack of services, corruption and lack of jobs

[bostonangler]

3 minutes ago, yota691 said:

As the report set of challenges facing Iraq , namely:
* fragile political environment
* total dependence on Oil revenues
* Lack of services, corruption and lack of jobs

 

Sounds like the same old Iraq...

 

B/A

[ronscarpa]

World Bank assesses the situation of Iraq and the future of its economy

Date: Editor: 2019/11/4 11:49 • 439 times read

 

 

The World Bank issued its report on Iraq and its outlook from the previous years.

The report showed the following results:

1. In the absence of structural reforms and accelerated reconstruction, Iraq's recovery may be short-lived, and growth is expected to continue its positive path and peak at 5.1 per cent in 2020. However, growth is expected to slow to 2.7 per cent. cent in 2021.

2. Higher spending with lower oil prices will lead to the expected fiscal deficit at 3.3 percent of GDP in 2020 and will remain in a similar scale in 2021. It is expected that the ongoing fiscal deficit will raise public debt to more Of 48 per cent of GDP by 2021.

3. Lower oil prices and increased imports will keep the current account balance in deficit, with GDP expected to average 4 per cent over the period 2020-2021. This is expected to be financed in part by the accumulation of previous international reserves. As a result, the CBI's foreign reserves are expected to fall to an estimated US $ 51 billion (or 5.7 months of imports) by 2021.

The report also illustrates a range of challenges facing Iraq:

- a fragile political environment
- a total reliance on revenues. Oil
- lack of services, corruption and lack of jobs.  

 

Link:  https://alforatnews.com/modules/news/article.php?storyid=217835

[WheresmyRV?]

Sounds like nothing is going to get better with Iraq anytime soon.

[screwball]

Nows  the perfect time in my opinion 

[yota691]

Iraq falls to 172th place to do business next year

Economie

2019-11-18 | 02:20

 

 

 

 

 

1,644 views

 

 

Iraq ranked 172 out of 190 countries in the World Bank's Doing Business 2020 report, down from 171 the previous year.

Topping the list are New Zealand , Singapore and Canada , and last place for Somalia , behind Eritrea and Venezuela . Iran ranked 127th, Libya 186.

Doing Business 2020 is the 17th annual report that examines the annual studies of 12 activities and sectors for many businesses and industries.

 

The objective of these reports is to provide objective data for use by governments in designing sound market regulatory policies for the market and to encourage the search for influences and factors important to the business regulatory environment.

[yota691]

The minimum oil price required to stabilize the budgets of the Gulf States

 

crude oil

energy Economy News - Baghdad A report by the International Monetary Fund (IMF) revealed the average price of a barrel of oil needed by Gulf states' budgets to break the difference between their revenues and spending rates. According to the report, Qatar has the lowest price per barrel of oil for the Gulf countries by about $ 48.8 per barrel in 2019, and about $ 45.7 in 2020. Qatar is second with Kuwait at $ 54.3 in 2019 and around $ 54.7 in 2020, followed by the UAE with $ 70.2 in 2019 and $ 70 in 2020. Saudi Arabia, one of the world's largest oil producers, has a break-even price of $ 86.5 a barrel in 2019, $ 83.6 a barrel in 2020.Oman Sultanate has a break-even price of $ 87.3 a barrel in 2019 and $ 87.6 a barrel in 2020. In 2019, Bahrain needs around $ 95.1 per barrel and $ 91.8 per barrel in 2020. Views: 84   Date Added: 28/11/2019