Iraqi Economic Condition is Moving Towards Betterment

Iraqi Economic Condition is Moving Towards Betterment

Iraqi Dinar 123 News:– It is a fact that Iraqi economy is experiencing major changes. The available opportunities in the investment and specific planning strategy in utilizing resources would be more beneficial. Iraq is on the stage of financial growth and it would be an encouraging condition for the promotion of foreign investment in the oil and manufacturing infrastructure. The Wall Street Journal also indicated that Iraq has the population over 30 million educated and hardworking people and it is considered most attractive country for foreign investors and companies, and most of the foreign investors and companies have showed their interest in big projects. The U.S President announced earlier to end U.S military operations in Iraq, but it will take a considerable amount of time in making peaceful and stable condition in the country.

Despite all these facts, Iraq has been considered as solid state resources but it needs to be well utilized in a perfect manner. It would also bring more foreign investment in the country in order to boost up the Iraqi economy. The news paper also predicted that rapid economic development in a short amount of time would make Iraq one of the powerful countries in the world. It is important that Iraqi government has taken a number of major decisions to empower the Iraqi economy such as the reduction in the inflation rate from 19 to 6 percent. The Iraqi government made a number of contracts with several foreign oil companies to increase its oil production. It is expected that Iraqi oil production would reach at more than 10 million barrels per day at the end of 2020 and Iraq would become one of the biggest oil producers and exporter of oil in the world.

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