International Monetary Expects Iraq’s Budget Deficit of 22%

[yota691]

International Monetary Expects Iraq’s Budget Deficit of 22%

 

money and business Economy News _ Baghdad The International Monetary Fund expected, on Monday, that Iraq's budget deficit would reach 22% of GDP. "The economy may contract by up to 10%," the fund said in a report, seen by "Al-Ektissad News", expecting that "Iraq's budget deficit will reach 22% of GDP." The fund added that "the deficit is the worst in the Middle East and North Africa." And the World Bank predicted in a previous report that "the Iraqi GDP per capita would drop to 4282 dollars, the lowest level since 2006."

Number of observations 88   Date of addendum 10/26/2020

[yota691]

The government debt is likely to rise .. The International Monetary Fund confirms that Iraq's revenues fell to about half in 2020

 

 

295 Economie 2020/10/26 12:55 ha Baghdad Today-

Follow up The International Monetary Fund, Monday (October 26, 2020), published a report entitled "Regional Economic Outlook for the Middle East and Central Asia," while noting that Iraq, in light of the decline in oil prices and production, the available data indicate the collapse of oil revenues during the first half of 2020 With rates up to 50%. "The expected dynamic will lead to an increase in government debt and reach high levels in the medium term in some countries (such as Algeria, Iraq, Kuwait, and Morocco, and there are rising concerns about the sustainability of debt sustainability in countries that used to be," said the report, published by the IMF and seen by (Baghdad today). Its initial debt stocks are large (like Bahrain and Oman). " He added, "The expectations regarding the Middle East, North Africa, Afghanistan and Pakistan region indicate an increase in the median government debt and exceeded 70% of GDP in the medium term, reflecting the high balance of debt in the pre-Covid-19 period in oil importing countries and the expected speed of debt accumulation." In oil-exporting countries, including Algeria, Bahrain, Iraq and Oman. " The report continued, "Given the historical episodes of fiscal control within each group of countries over the period from 2003-2019, the cumulative adjustments expected over a period of three years from 2021 to 2023 appear optimistic in the case of all oil importing countries and in the case of Iraq." . The Fund stated in its report, "The oil-exporting countries and other major oil-producing countries (OPEC) that were concluded in April and extended in June (which resulted in the reduction of oil production), in maintaining the stability of oil prices and recovering more than 50% of The losses recorded since the end of 2019, even if the current trading price remains 40% below its pre-Covid-19 level. He stressed that, "In light of the decline in oil prices and production, the available data indicate a collapse in oil revenues during the first half of 2020 by 50% (in Iraq), and in the short and medium term, excess supply and large stocks remain a source of existing concern, while it continues. Decreased demand due to reduced air travel. " To view the full report of the International Monetary Fund, click here

[yota691]

 

International Monetary Expects Iraq’s Budget Deficit of 22%

 

 

2020-10-26 04:32

Shafaq News / The International Monetary Fund expected, on Monday, that Iraq's budget deficit would reach 22% of GDP.

The fund said in a report, seen by Shafaq News, that "the economy may contract by up to 10%," expecting that "Iraq's budget deficit will reach 22% of GDP."

The fund added that "the deficit is the worst in the Middle East and North Africa."

And the World Bank predicted in a previous report that "the Iraqi GDP per capita would drop to 4282 dollars, the lowest level since 2006."

 

[6ly410]

 

 

Iraq's budget deficit may reach 22%, IMF report says

Economy iraqIMF

• https://shafaq.com/en/Economy/Iraq-s-budget-deficit-may-reach-22-IMF-report-says

2020-10-26 04:28

 

Shafaq News / The International Monetary Fund expected on Monday that Iraq's budget deficit would reach 22% of GDP.

IMF added in a report that the economy may contract by up to 10%, noting that the expected deficit is the worst in the Middle East and North Africa.

It is noteworthy that the World Bank expected in a previous report that the Iraqi GDP per capita will drop to 4282 dollars, the lowest level since 2006.

[bkeiller]

2 hours ago, 6ly410 said:

 

 

Iraq's budget deficit may reach 22%, IMF report says

Economy iraqIMF

• https://shafaq.com/en/Economy/Iraq-s-budget-deficit-may-reach-22-IMF-report-says

2020-10-26 04:28

 

Shafaq News / The International Monetary Fund expected on Monday that Iraq's budget deficit would reach 22% of GDP.

IMF added in a report that the economy may contract by up to 10%, noting that the expected deficit is the worst in the Middle East and North Africa.

It is noteworthy that the World Bank expected in a previous report that the Iraqi GDP per capita will drop to 4282 dollars, the lowest level since 2006.

 

The screw keeps turning to move support over to the State and at each turn the State has to step up and do what is needed. E.g., Safety and security test: no protesters murdered by rogue elements in uniforms. Check✓ [Let's hope that continues.]

Wondering how many more turns it is going to take, but things look like they are getting locked down more and more every day. 

Financial cooperation: G7 on board. Check✓ [Looking for repatriation of stolen monies and other assets.]

 

What other 'stress tests' are still ahead?