Iraq sends a memorandum to the IMF expected decline in foreign reserves in 2016

Iraq sends a memorandum to the IMF expected decline in foreign reserves in 2016

Since 01.13.2016 at 08:54 (GMT Baghdad)

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Iraq said in a memorandum to the International Monetary Fund, he plans to finance the deficit in its balance of payments by drawing on foreign reserves, including make it go down to $ 43 billion in 2016 from 59 billion at the end of last October.

The Iraqi government said under the program approved by the IMF as a precondition for the loan that is expected to reach a balance of payments deficit of $ 14 billion in 2015 to shrink to $ 11 billion in 2016.

Iraq, said the estimated gross domestic product will grow by 1.5 percent in 2015 and 10.6 percent in 2016 to increase its oil production while oil prices fall to a deficit in the budget will result in a 15 percent of GDP in 2015 and a deficit of 10 percent in 2016 ended 29/4 e

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