The World Bank issues a statement regarding Iraq

[yota691]

The World Bank issues a statement regarding Iraq

 

 

 

AM:11:55:29/09/2021

2192 views

 

 

The World Bank set, on Wednesday, the goals of granting Iraq $100 million, praising the vaccination campaign launched by the Iraqi Ministry of Health last March.  

The bank said in a statement received by NRT Arabic, a copy of it, (September 29, 2021), that "the project will support vaccination against the Corona virus in Iraq by granting the vaccine to priority groups among the population and strengthening the institutional system to enable the safe and effective dissemination of vaccines on the widest scale."  

The statement added, "This project aims to assist the country not only in purchasing coronavirus vaccines, but also in improving its ability to manage waste resulting from health care activities, and implement communication and awareness efforts to raise public awareness of the importance of receiving the vaccine."  

He stressed, "The project builds on the current support provided by the World Bank and other development partners to the Iraqi government in support of its efforts to respond to the Corona pandemic, within the framework of the Iraq Reform, Recovery and Reconstruction Fund (I3RF) and the Emergency Operation Project for Development."  

The statement explained, "Iraq launched the vaccination campaign against the Corona virus in March 2021, as it was able to rapidly increase vaccination coverage during the past month, and more than 7 million doses of vaccine were given, about 11% of the population received the first dose, in addition to immunizing 7% of the population." completely in two doses.  

And he indicated, "The comprehensive and well-coordinated vaccination campaign is an essential element for future recovery from the health and economic effects of the Corona pandemic," noting that "the project will play a critical role in enabling equal and affordable access to Corona vaccines in Iraq, as well as expanding the coverage to include 3 million Iraqi citizens.  

“There is a need to facilitate access to vaccines to reduce the spread of the pandemic and reduce the burden on the already weak health system in Iraq, and this project will support Iraq in the procurement and deployment of vaccines necessary to protect lives, and enable The country can safely reopen its doors and begin the economic recovery phase.”  

Withdrawing the World Bank statement, this project is subject to the “Strategic Program for Coronavirus Pandemic Preparedness and Response (SPRP)” using the Multi-Phase Program Approach (MPA) approved by the World Bank’s Board of Executive Directors in April 2020; Additional funding for that program was approved in October 2020, and the project also includes a grant from the Iraq Reform, Recovery and Reconstruction Fund (I3RF).  

It is worth noting that the Iraq Reform, Recovery and Reconstruction Fund was established in partnership with the Government of Iraq in 2018, with co-financing by Germany, the United Kingdom, Canada and Sweden.  

This fund provides a program of financing and strategic dialogue for reconstruction and development in the country, with a focus on targeted national reforms and public and private investments to achieve social and economic recovery and reconstruction.  

The fund also works to be a strategic platform for coordinating efforts related to development and dialogue, and aims to stand behind the climate change agenda adopted by the country, as well as to support gender equality, achieve social peace and community participation on the part of citizens.  

Such financing from the World Bank would complement the activities of other development partners, as well as fill critical financing gaps to ensure the successful distribution of vaccines.  

The World Bank is committed to continuing to support Iraq in its efforts to respond to the Corona pandemic and improve the resilience of its health system to future shocks.  

[shixjr]

2 minutes ago, yota691 said:

The World Bank set, on Wednesday, the goals of granting Iraq $100 million

Why get loans when you can get grants?  Are there strings attached?

[yota691]

The World Bank sets goals for granting Iraq 100 million dollars and praises the vaccination campaign

 

world bank logo

money and business Economy News - Baghdad The World Bank set the goals of granting Iraq $100 million, while praising the vaccination campaign launched by the Iraqi Ministry of Health last March. The bank said in a statement seen by "Al-Iqtisad News", that "the project will support vaccination against the Corona virus in Iraq by granting the vaccine to priority groups among the population and strengthening the institutional system to enable the safe and effective deployment of vaccines on the widest scale." He added, "This project aims to assist the country not only in purchasing coronavirus vaccines, but also in improving its ability to manage waste resulting from health care activities, and implement communication and awareness efforts to raise public awareness of the importance of receiving the vaccine." The Bank confirmed that "the project builds on the current support provided by the World Bank and other development partners to the Iraqi government in support of its efforts to respond to the Corona pandemic, within the framework of the Iraq Reform, Recovery and Reconstruction Fund (I3RF) and the Emergency Operation Project for Development." And he indicated that "Iraq launched the vaccination campaign against the Corona virus in March 2021, as it was able to rapidly increase the vaccination coverage during the past month, and more than 7 million doses of vaccine were given, about 11% of the population received the first dose, in addition to immunizing 7% of the entire population with two doses." ". And he indicated that "a comprehensive and well-coordinated vaccination campaign is an essential element for future recovery from the health and economic effects of the Corona pandemic," noting that "the project will play a critical role in enabling equal and affordable access to Corona vaccines in Iraq, as well as expanding the coverage umbrella to include 3 Millions of Iraqi citizens. “There is a need to facilitate access to vaccines to reduce the spread of the pandemic and reduce the burden on the already weak health system in Iraq, and this project will support Iraq in the procurement and deployment of vaccines necessary to protect lives, and enable The country can safely reopen its doors and begin the economic recovery phase.” Withdrawing the World Bank statement, this project is subject to the “Strategic Program for COVID-19 Preparedness and Response (SPRP)” using the Multi-Phase Program Approach (MPA) approved by the World Bank’s Board of Executive Directors in April 2020; Additional funding for that program was approved in October 2020, and the project also includes a grant from the Iraq Reform, Recovery and Reconstruction Fund (I3RF). It is worth noting that the Iraq Reform, Recovery and Reconstruction Fund was established in partnership with the Government of Iraq in 2018, with co-financing by Germany, the United Kingdom, Canada and Sweden. This fund provides a program of financing and strategic dialogue for reconstruction and development in the country, with a focus on targeted national reforms and public and private investments to achieve social and economic recovery and reconstruction.  The fund also works to be a strategic platform for coordinating efforts related to development and dialogue, and aims to stand behind the climate change agenda adopted by the country, as well as to support gender equality, achieve social peace and community participation by citizens. Such financing from the World Bank would complement the activities of other development partners, as well as fill critical financing gaps to ensure the successful distribution of vaccines.  The World Bank is committed to continuing to support Iraq in its efforts to respond to the Corona pandemic and improve the resilience of its health system to future shocks.

Views 91   Date Added 09/29/2021

[yota691]

The World Bank sets goals for granting Iraq $100 million

Thursday 30 September 2021 97

 

  Baghdad: morning

 

The World Bank set the goals of granting Iraq $100 million, while praising the vaccination campaign launched by the Iraqi Ministry of Health last March. The bank said in a statement, "The project will support vaccination against the Corona virus in Iraq, by granting the vaccine to priority groups among the population and strengthening the institutional system, to enable the safe and effective deployment of vaccines on the widest scale." He added, "This project aims to assist the country not only in purchasing coronavirus vaccines, but also in improving its ability to manage waste resulting from health care activities, and implement communication and awareness efforts to raise public awareness of the importance of receiving the vaccine."

 

 

The Bank confirmed that “the project builds on the current support provided by the World Bank and other development partners to the Iraqi government, in support of its efforts to respond to the Corona pandemic, within the framework of the Iraq Reform, Recovery and Reconstruction Fund (I3RF) and the Emergency Operation Project for Development.”

And he indicated that “Iraq launched the vaccination campaign against the Corona virus in March 2021, as it was able to rapidly increase vaccination coverage during the past month, and more than 7 million doses of vaccine were given, about 11% of the population received the first dose, in addition to immunizing 7% of the entire population.” In two doses.

And he indicated that "a comprehensive and well-coordinated vaccination campaign is an essential element for future recovery from the health and economic effects of the Corona pandemic," noting that "the project will play a critical role in enabling equal and affordable access to Corona vaccines in Iraq, as well as expanding the coverage umbrella to include 3 Millions of Iraqi citizens.

“There is a need to facilitate access to vaccines to reduce the spread of the pandemic and reduce the burden on the already weak health system in Iraq, and this project will support Iraq in the procurement and deployment of vaccines necessary to protect lives, and enable The country can safely reopen its doors and begin the economic recovery phase.”

According to the World Bank statement, this project is subject to the “Strategic Program for Coronavirus Pandemic Preparedness and Response (SPRP)” using the Multi-Phase Program Approach (MPA) approved by the World Bank’s Board of Executive Directors in April 2020; Additional funding for that program was approved in October 2020, and the project also includes a grant from the Iraq Reform, Recovery and Reconstruction Fund (I3RF).

It is worth noting that the Iraq Reform, Recovery and Reconstruction Fund was established in partnership with the Government of Iraq in 2018, with co-financing by Germany, the United Kingdom, Canada and Sweden.

This fund provides a program of financing and strategic dialogue for the reconstruction and development of the country, with a focus on targeted national reforms and public and private investments to achieve social and economic recovery and reconstruction.

The Fund also works to be a strategic platform for coordinating efforts related to development and dialogue, and aims to stand behind the climate change agenda adopted by the country, as well as to support gender equality, achieve social peace and community participation by citizens.

Such financing from the World Bank would complement the activities of other development partners, as well as fill critical financing gaps to ensure the successful distribution of vaccines. 

The World Bank is committed to continuing to support Iraq in its efforts to respond to the Corona pandemic and improve the resilience of its health system to future shocks.

[yota691]

World Bank: Financial performance hurt the Middle East's handling of the pandemic

Economie| 09:14 - 07/10/2021

 

 

 

 

 

Follow - Mawazine News

Today, Thursday, the World Bank confirmed that countries in the Middle East and North Africa are struggling to recover from the Covid-19 crisis, as economic crises have been exacerbated by weak financing of public health systems.
The bank said in a report that the total cost of the COVID-19 pandemic, estimated according to GDP losses, will reach nearly $200 billion in the region by the end of the year.
According to the report, 13 of the 16 countries in the region will record a decline in living standards this year compared to conditions before the pandemic, as GDP per capita is expected to decline by 1.1 percent this year after a 5.4 percent decline in 2020.
The bank said, "Economic trends Long-term social and underfunded public health systems have left the Middle East and North Africa ill-equipped to deal with the pandemic, which is contributing to a fragile and inhomogeneous recovery as the region strives to overcome the COVID-19 pandemic.
In the ten years leading up to the pandemic and following the 2011 Arab Spring protests, the region failed to undertake deep reforms aimed at transitioning to a market-based economic model, which led to the expansion of the public sector.
"In this context, the Middle East and North Africa region suffered from poor financial performance with rising public sector wage bills and ultimately government spending on health becoming unusually low relative to the level of development in the region," the bank said.
Most of the countries in the region recorded a greater than average increase in government spending ratios to GDP between 2009 and 2019, compared to their peers that started at the same level of per capita income.
"In the social context prevailing in the region, many countries have over-employed government sector workers to maintain peace and social harmony," the bank stated.
"For all MENA countries for which data are available, the rates of government spending on health compared to spending on public sector wages are lower than in other countries with the same income," he added.
Looking ahead, the Bank expects a heterogeneous recovery, partly due to different vaccination rates against COVID-19, with richer countries leading by a wide margin.
“Health and the economy have become intertwined ... What ultimately turned out to be key is how we fight a pandemic,” Roberta Gatti, chief economist for the Middle East and North Africa at the World Bank, told Reuters.
"Improving investment in collecting, sharing and disseminating data can take a long time, and it may be something cheap that can be done to contribute to monitoring the area," she added.

[horsesoldier]

I had a hunch sooner rather than later they’d get around to laundering $$$$$ again.

[dinarham]

3 hours ago, horsesoldier said:

I had a hunch sooner rather than later they’d get around to laundering $$$$$ again.

       Anyway you can . including blowing paint with a straw onto a canvas in a sensitive artistic manner like Hunter.

[gregp]

7 hours ago, horsesoldier said:

I had a hunch sooner rather than later they’d get around to laundering $$$$$ again.

Pretty sure this is just a max vaccination campaign. Leave the shot talk to doctors. Not the world bank.
Thanks Yota.  

[screwball]

one way to save on money and housing just kill them off by giving them the jab....

[yota691]

World Bank: Financial performance has hurt the Middle East's handling of the pandemic

Saturday 09 October 2021 45

 

 Capitals: agencies

The World Bank confirmed that the countries of the Middle East and North Africa are struggling to recover from the Covid-19 crisis, as economic crises have been exacerbated by weak financing of public health systems.

The bank stated in a report that the total cost of the COVID-19 pandemic, estimated according to GDP losses, will reach nearly $200 billion in the region by the end of the year.

According to the report, 13 of the 16 countries in the region will record a decline in living standards this year compared to what they were before the pandemic, as GDP per capita is expected to decline by 1.1% this year after a 5.4% decline in 2020.

"Long-term economic and social trends and underfunding of public health systems have left the Middle East and North Africa ill-equipped to deal with the pandemic, which is contributing to a fragile and inhomogeneous recovery as the region strives to overcome the Covid-19 pandemic," the bank said.

In the ten years preceding the pandemic, the region failed to undertake deep reforms aimed at transitioning to a market-based economic model, which led to the expansion of the public sector.

“In this context, the Middle East and North Africa region suffered from poor financial performance in light of high public sector wage bills, and eventually government spending on health became unusually low in relation to the level of development in the region,” the bank said.

Most of the countries in the region recorded a greater than average increase in government spending ratios to GDP between 2009 and 2019, compared to their peers that started at the same level of income per capita.

"For all MENA countries for which data are available, government spending on health compared to spending on public sector wages is lower than in other income countries," he added. 

Himself".

Looking ahead, the Bank expects a heterogeneous recovery, partly due to different vaccination rates against COVID-19, with richer countries leading by a wide margin.

“Health and the economy are becoming intertwined,” Roberta Gatti, chief economist for the Middle East and North Africa at the World Bank, told Reuters. “What ultimately turned out to be key is how to fight a pandemic.”

"Improving investment in data collection, sharing and dissemination can take a long time, and it may be something inexpensive to do to contribute to monitoring Region".

[yota691]

The World Bank talks about the relationship of the political situation in Iraq and its economic growth

 

 

310 Economie 10/07/2021 17:57 Baghdad today -

Baghdad Today, Thursday, the World Bank disclosed the relationship of the political situation in Iraq with the economic situation and its growth in a report issued by it, indicating that political instability in developing countries, including Iraq, poses a threat to its economic growth. The bank said, according to the report, which it followed (Baghdad Today), that "the Middle East and North Africa region is witnessing a limited and uneven economic recovery in the year 2021 with the continuing crisis of the Corona virus." He added that "the Covid-19 pandemic caused the economies of the region to shrink by 3.8 percent during the year 2020," partly attributing this to "the lack of readiness of their health systems to deal with the crisis caused by the virus." The World Bank expected "the region's economy to grow by 2.8 percent in 2021, with estimates that the losses caused by the pandemic will reach about $200 billion by the end of this year." Per capita gross domestic product is expected to grow by 1.1 percent this year, after declining about five percent last year. The pandemic crisis has caused massive job losses and a significant increase in the number of people living below the poverty line (ie, less than $5.5 per day). "The combination of pressures on health systems and global economic factors, such as fluctuations in commodity prices, especially oil, led to an uneven recovery and limited expectations," the report said. According to the report, "the performance of each economy depends largely on its vulnerability to fluctuations in commodity prices and the way it manages the epidemic." He warned that recovery will also depend on the rapid and equitable release of Covid-19 vaccines, especially with the emergence of new mutations. According to the report, "While the Gulf Cooperation Council countries are among the best in the world at vaccinating their citizens, the slow pace of vaccine distribution in many developing countries in the Middle East makes them vulnerable to increases in Covid-19 infections." He noted that political instability in developing oil-exporting countries, including Iran, Iraq, Libya and Yemen, poses additional risks to economic growth. "The devastating impact of the pandemic on economic activity in the region is a painful reminder that economic development and public health are closely linked," said Ferid Belhaj, World Bank Group Vice President for the Middle East and North Africa. Belhaj urged improvements in health systems to "accelerate the region's recovery and prepare for future public health emergencies."

[horsesoldier]

12 hours ago, gregp said:

Pretty sure this is just a max vaccination campaign. Leave the shot talk to doctors. Not the world bank.
Thanks Yota.  

.... like to believe you’re right. The criminal element is well established with arms that reach out like the tentacles of an Octopus. Hoping you’re right and I’m wrong on where  this money winds up. 

[yota691]

The World Bank Estimates The Growth Of The Economies Of The Middle East Countries

Author: AhadNA1 On 10/10/2021 - 10:27 PM  190

In Its Latest Report, The World Bank Expected That The Middle East And North Africa Region Will Witness A Mixed Recovery Before The End Of 2021.
After The GDP Contracted By 3.8% In 2020, The Bank Now Expects A Total Growth Of About 2.8% For The Region's Economy.

 

Issam Abu Sulaiman, The Regional Director Of The World Bank In The Gulf Cooperation Council Countries, Confirmed That "The Expectations Of The World Bank, For The Growth Of The Economy Of The Gulf Cooperation Council Countries, Reach 2.6% For The Current Year."
He Explained That "The Gulf Countries Were Able To Control The Repercussions Of The Pandemic On The Economy With Faster And More Successful Vaccinations Compared To Many Countries Of The World, And This Will Affect support For Gulf Economic Growth, Bringing Growth To 4.7% Next Year."
He Added, "These Countries Responded Financially In Particular To The Pandemic With The Continuation Of Public Spending, With The Injection Of Great Liquidity Into The Markets While Supporting The Debts Of Private Companies, And This Formed A Bond For Companies To Restore Their Activity."

[yota691]

Economie

THE WORLD BANK ISSUES A REPORT ON DOMESTIC PRODUCTION IN IRAQ

 

 

 

Monday, October 11, 2021 1:43 PM

Baghdad / National News Center

Today, Monday, the World Bank announced that the gross domestic product in Iraq grew by 0.9% on an annual basis in the first half of 2021, expecting an improvement in the debt-to-GDP ratio.

And the bank said in a report, that “economic growth in Iraq is gradually recovering after the downturn associated with the epidemic last year, due in part to the rise in non-oil activity,” expecting that “improving global oil market conditions will enhance growth in the medium term and transfer financial balances.” Public and external surpluses from 2021, and the recent rise in debt will be reflected.”

He added, "Iraq's GDP grew in the first half of 2021, by 0.9% on an annual basis, and the non-oil economy grew by more than 21% in the first half of 2021 (on an annual basis) due to the strong performance in the service sectors. Noting that "this recovery has outpaced the slowdown in the oil sector, down by 10% in the first half of 2121, as Iraq adapted to its quota in OPEC + early in the year."

He pointed out that "the prospects for the Iraqi economy have improved with the recovery in global oil markets, but the spread of the new COVID-19 variables and the challenges of climate change are major headwinds," expecting the economy to gradually recover against the backdrop of high oil prices and OPEC + production quotas that are scheduled to be phased out gradually. In 2022, oil GDP will be the main driver of growth in the medium term.”

The bank expected that “Iraq’s non-oil GDP will recover but remain below 3% on average in 2021-2023 due to the impact of the new COVID-19 Delta variable along with water and electricity shortages affecting agriculture and industries, under this scenario, and it is expected The fiscal balance should remain in surplus in the medium term, leading to a steady improvement in the debt-to-GDP ratio.

[yota691]

 

World Bank: GDP growth in Iraq is 0.9% annually and the debt rate has improved

 2021-10-11 07:44

 

Shafaq News/ The World Bank announced that the gross domestic product in Iraq grew by 0.9% on an annual basis in the first half of 2021, expecting an improvement in the debt-to-GDP ratio.

The bank said in a report seen by Shafak News Agency; "Economic growth in Iraq is gradually recovering after the pandemic-related contraction last year, due in part to the rise in non-oil activity," expecting that "improving global oil market conditions will enhance growth in the medium term and transform public and external financial balances into surpluses from 2021, and the recent rise in debt will be reflected.”

He added, "Iraq's GDP grew in the first half of 2021, by 0.9% on an annual basis, and the non-oil economy grew by more than 21% in the first half of 2021 (on an annual basis) due to the strong performance in the service sectors. "This recovery has outpaced the slowdown in the oil sector, with a 10% drop in the first half of 2121, as Iraq adapted to its quota in OPEC+ early in the year," he said.

He pointed out that "the prospects for the Iraqi economy have improved with the recovery in global oil markets, but the spread of new COVID-19 variables and the challenges of climate change are major headwinds," expecting the economy to gradually recover against the background of high oil prices and OPEC + production quotas that are scheduled to be gradually canceled In 2022, oil GDP will therefore be the main driver of growth in the medium term. 

The bank expected that “Iraq’s non-oil GDP will recover but remain below 3% on average in 2021-2023 due to the impact of the new COVID-19 Delta variable along with water and electricity shortages affecting agriculture and industries. The fiscal balance should remain in surplus over the medium term, leading to a steady improvement in the debt-to-GDP ratio.

[yota691]

The World Bank issues a report on the growth of domestic production in Iraq

•  Time: 10/11/2021 13:27:53
•  
•  Reading: 949 times

  

{Economic: Al Furat News} The World Bank announced, today, Monday, that the gross domestic product in Iraq grew by 0.9% on an annual basis in the first half of 2021, expecting an improvement in the debt-to-GDP ratio.

And the bank said in a report, that "economic growth in Iraq is gradually recovering after the epidemic-related contraction last year, due in part to the rise in non-oil activity," expecting that "improving global oil market conditions will enhance growth in the medium term and shift financial balances." public and external surpluses from 2021, and the recent rise in debt will be reflected.”

He added, "Iraq's GDP grew in the first half of 2021, by 0.9% on an annual basis, and the non-oil economy grew by more than 21% in the first half of 2021 (on an annual basis) due to the strong performance in the service sectors. "This recovery has outpaced the slowdown in the oil sector, with a 10% drop in the first half of 2121, as Iraq adapted to its quota in OPEC+ early in the year," he said.

He pointed out that "the prospects for the Iraqi economy have improved with the recovery in global oil markets, but the spread of new COVID-19 variables and the challenges of climate change are major headwinds," expecting the economy to gradually recover against the background of high oil prices and OPEC + production quotas that are scheduled to be gradually canceled In 2022, oil GDP will therefore be the main driver of growth in the medium term. 

The bank expected that “Iraq’s non-oil GDP will recover but remain below 3% on average in 2021-2023 due to the impact of the new COVID-19 Delta variable along with water and electricity shortages affecting agriculture and industries. The fiscal balance should remain in surplus over the medium term, leading to a steady improvement in the debt-to-GDP ratio.

[yota691]

World Bank: GDP growth in Iraq is 0.9% annually

 

Reconstruction and building Economy News _ Baghdad The World Bank announced, on Monday, that the gross domestic product in Iraq grew by 0.9% on an annual basis in the first half of 2021, expecting an improvement in the debt-to-GDP ratio. The bank said in a report seen by "Economy News", that "economic growth in Iraq is gradually recovering after the epidemic-related contraction last year, due in part to the rise in non-oil activity," expecting that "improving global oil market conditions will enhance growth." In the medium term, the transfer of fiscal and external balances into surpluses from 2021, and the recent rise in debt will be reflected.” He added, "Iraq's GDP grew in the first half of 2021, by 0.9% on an annual basis, and the non-oil economy grew by more than 21% in the first half of 2021 (on an annual basis) due to the strong performance in the service sectors. "This recovery has outpaced the slowdown in the oil sector, with a 10% drop in the first half of 2121, as Iraq adapted to its quota in OPEC+ early in the year," he said. He pointed out that "the prospects for the Iraqi economy have improved with the recovery in global oil markets, but the spread of new COVID-19 variables and the challenges of climate change are major headwinds," expecting the economy to gradually recover against the background of high oil prices and OPEC + production quotas that are scheduled to be gradually canceled In 2022, oil GDP will therefore be the main driver of growth in the medium term.  The bank expected that “Iraq’s non-oil GDP will recover but remain below 3% on average in 2021-2023 due to the impact of the new COVID-19 Delta variable along with water and electricity shortages affecting agriculture and industries. The fiscal balance should remain in surplus over the medium term, leading to a steady improvement in the debt-to-GDP ratio.

Views 160   Date added 10/11/2021

[yota691]

Adviser to the Prime Minister: Unemployment decreased to 14% and an increase in the growth of domestic production

•  Time: 10/14/2021 08:32:09
•  
•  Reading: 1,417 times

  

{Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq was able to improve the capabilities of aggregate demand or government spending "without financial hardship."

And Saleh said in a press statement, "Iraq has been able to improve the capabilities of aggregate demand or government spending in particular, without financial distress, which is one of the slower and slower economic activity."

He pointed out, "The development of government spending in the year 2021 (which constitutes 50% of Iraq's GDP) was positively reflected in the degree of GDP growth itself, to touch slightly less than (positive 1%) after the same growth index recorded a negative deterioration in general. 2020 amounted to more than (minus 9.5).

It sees financial advisor, that these economic indicators demonstrate that "non-performing sectors in the production of the labor market is now in the development of operational best, in terms of actual unemployment fell from nearly 23 percent in 2020 to nearly 14% currently, as well as the relatively low levels of poverty."

Salih pointed out that "the continuation of stability in the Iraqi economy in a sustainable manner in the next year, 2022, the aspiration will be towards achieving levels of growth in the gross domestic product, which may exceed the level of annual population growth, which currently stands at 2.6%, due to the development of investment."

At the same time, he expected "the level of growth to reach about 4% or more." 

Saleh explained that these positive indicators mean "there is a decrease in unemployment levels and an increase in investment spending, both governmental and private, to enable us to achieve higher levels of economic growth for our country."

The World Bank had announced last week that the gross domestic product in Iraq grew by 0.9% on an annual basis in the first half of 2021.

He noted that the economic growth in Iraq is gradually recovering after a contraction associated with the epidemic in the past year, partly due to the rise in non-oil activity, "expected to" improve the global oil market conditions will promote medium-term growth, and the transfer of public finance balances and external surpluses of In 2021, the recent rise in debt will be reflected."

[yota691]

Al-Kazemi’s advisor: International Monetary Fund expectations regarding the lack of demand for energy are “strange”

•  Time: 10/13/2021 18:11:55
•  
•  Reading: 2,470 times

  

{Economic: Al Furat News} The economic and financial advisor to the Prime Minister, Mazhar Muhammad Salih, expressed his surprise at the expectations of the International Monetary Fund regarding the lack of demand for energy.

 

Saleh told Al-Furat News that "the expectations of the World Bank regarding the lack of demand for energy are [strange], but the real fear is that the oil countries will rush to offer more product to the market, and thus we will reach the glut."
He added, "OPEC Plus countries are committed to quantities, and if oil prices increase, this means that the supply is full and production will be large, and thus there will be fragility in demand and a glut in offers."
Saleh stressed, "The need for continuous consultations in OPEC Plus, as well as continued consultation and discussion with the producing countries. Otherwise, whenever prices rise to this point, a desire is generated to flood the market."
The economic and financial advisor to the Prime Minister hinted at "a breakthrough in terms of the receding of the epidemic and the increase in demand within the global economy, and this is what becomes the concern of the International Oil Fund."
It is noteworthy that the chief economist at the International Monetary Fund, Gita Gopinat, expected that energy prices would maintain their high recorded in recent days before falling back early next year.
She said that while energy prices will be "high" in the next few months, "we expect them to decline by the late first quarter of next year and into the second quarter."
"We will be in a better position after the winter months pass. We expect it to decline by the end of the first quarter of next year and with the entry of the second quarter," she said.

[yota691]

Improving government spending capabilities {without financial hardship}

Thursday 14 October 2021 187

 

 Baghdad: Haider Falih Al-Rubaie

The financial advisor in the Prime Ministry, Dr. Mazhar Muhammad Salih, confirmed that Iraq was able to improve the capabilities of aggregate demand, or government spending {without financial difficulty}, pointing out that this matter is one of the convenient indicators in moving the machine of economic activity, while noting that this The improvement was positively reflected in the degree of growth in GDP.

And the World Bank announced, last week, that the gross domestic product in Iraq grew by 0.9% on an annual basis in the first half of 2021, noting that {economic growth in Iraq is gradually recovering after the downturn associated with the epidemic last year, partly because of this. to the rise in non-oil activity,” it is expected, “it is expected that the improvement in the global oil market conditions will enhance growth in the medium term, and turn public and external financial balances into surpluses from 2021, and the recent rise will be reflected in 

Debts}.

In an interview with Al-Sabah, Dr. Salih said, "Iraq has been able to improve the capabilities of aggregate demand or government spending in particular without financial hardship, and it is one of the convenient indicators in moving the machine of economic activity and addressing the problems of decline towards economic stagnation." 

Pointing out that {the development of government spending in the year 2021 (which constitutes a percentage of

50% of Iraq's GDP) was positively reflected in the same GDP growth rate to touch slightly less than (positive 1%), after the same growth index recorded a negative deterioration in 2020 that amounted to more than (negative 9.5).

In the opinion of the financial advisor, these economic indicators indicate that {the unemployed sectors in the labor market and production are in a better operational position, as actual unemployment decreased from approximately 23% in 2020 to approximately 14% currently, in addition to the relative decrease in poverty levels.

Saleh pointed out that {the continuation of the stability situation in the Iraqi economy in a sustainable manner in the next year, 2022, the aspiration will be towards achieving levels of growth in the gross domestic product, which may exceed the level of annual population growth, which currently stands at 2.6% due to the development of investment spending, expected At the same time, the growth level is about 4% or less 

more}.

Salih explained that these positive indicators mean "there is a decrease in unemployment levels and an increase in investment spending, both governmental and private, which will enable us to achieve higher levels of economic growth for our country."

In turn, the World Bank said in a report, that “Iraq’s GDP grew in the first half of 2021, by 0.9% on an annual basis), and the non-oil economy grew by more than 21% in the first half of 2021 (on an annual basis). Annually) due to the strong performance in the service sectors,” noting that “this recovery exceeded the slowdown in the oil sector, with a decrease of 10% in the first half of 2121.

He pointed out that {the prospects for the Iraqi economy have improved with the recovery in global oil markets, but the spread of new (Covid-19) variables and the challenges of climate change are major headwinds}, expecting the economy to gradually recover against the background of high oil prices and OPEC + production quotas that are scheduled Gradually phased out in 2022, and therefore oil GDP will be the main engine of growth in the long term 

average }.