Deputy Governor of Central Bank names Mudher Karim said that we are thankful to Oil of Iraq. If we have not Iraq’s oil then we wouldn’t ever be able to achieve the targets of our economy and with this GDP would never be more than 4.5%. We are again very thankful to the economy of Iraq and we are making the 60% of the economy with the oil production. He further added that Oil facility has the capacity that can help in adding to the GDP of Iraq. And this is the best thing for the Iraq for having the mega oil resources. With the rise of Oil production of 100000 bpd in the oil export will accumulate the $3.4 billion per year and with this oil can become the largest economy of the world and richest state of the world. And in this way Iraq can also achieve the targets of the world. He further said, within a few months more than 95% of the Iraqi revenue will be linked with the oil production and oil exports but the problem is that Iraq has old infrastructure and this is bad for the economy of Iraq.He further said that there is great need of foreign investment with the help of this infrastructure can be improved and this is the best thing for the Iraq and its economy.
Three months ago, Iraq held an expo and in that expo more than 2000 companies were invited and these companies participated and saw the Iraq for investment and after that expo, Iraq received more than 1200 applications from the companies to make investment and now the government is planning to give them licenses of investment.
The Iraqi government is also trying to get its debts waive off from the countries. For this Prime Minister is visiting those countries to get the matter issued in this regard. So all of these things are going good for Iraq and this will ultimately benefit the Iraq.
