The Prime Minister’s Advisor to Financial and Economic Affairs, Mazhar Mohammed Saleh, on Tuesday, showed the real growth rate in the non-oil GDP of Iraq, while referring to Iraq’s financial situation
Saleh said, in an interview followed by “Economy News”, that “the basis comes from the strength of the foreign assets reserves owned by Iraq, which exceeded 100 billion dollars and a hundred dollars, which is the national currency cover, which means that there is full coverage of the national currency issued in foreign currency, which provides an ideal stability for the exchange rate of the Iraqi dinar, as well as that those foreign reserves embody the commercial efficiency of Iraq, as those reserves cover more than 15 commercial months, while the global standard is only three months.”
He added, “We must not forget that the current account surplus of the balance of payments relative to GDP is also not less than (positive 8%) which is a high indicator that reflects the strength of the external sector in the national economy, that is, in its stability and growth.”
He pointed out that “the real growth rate in Iraq’s non-oil GDP has touched (6%) and it expresses the growth of the activities of important sectors, foremost of which is the movement of reconstruction, construction, housing and the development of the transport and digital communications sector, and there is a continuous movement in the development of the agricultural sector thanks to government support for crops, and we expect Iraq’s production of grains to reach 6 million tons in the next few months.”
