Skip to comments.Iraq economy 'on track' says IMF
Posted on 12/24/2008 9:46:25 AM PST by FocusNexus
Economic development in Iraq in 2008 has been "encouraging" according to a review of the country's economy by the International Monetary Fund (IMF).
Improved security and a more stable political environment mean economic activity has "picked up" on the back of increased oil production and exports.
IMF deputy managing director Takatoshi Kato said the authorities had kept the economic programme "on track".
Oil revenue in 2009 would be much lower than in 2008, he added.
To compensate, the Iraqi government has already prepared measures to reduce spending next year.
(Excerpt) Read more at news.bbc.co.uk ...
Also note that the Iraq government does understand that if you expect lower revenues, you need to cut government spending. What a novel idea, too bad the sophisticated US government, and it's states hadn't figured it out.
I had to do a double-take when I saw that. After all the American economic advisers infesting Iraq, I can't believe they still have the sanity to reduce spending when revenues decrease. Where is the Iraqi press to claim that al-Maliki hates children and the poor?
Good! Iraq is isolated from the global economy and they’re doing well, while everyone intertwined in it goes down the tubes.
So, the Iraqi government has cut spending and passed more bills last year than Congress did. Looks like we’ve created a better legislative body than what our own has become.
I don't think they should be on crack. I know things have been a bit rough over there, but that's no reason to ... what? ... oh. That's different.
“what? ... oh. That’s different.”
Sad, but true. The MSM salivates to report any bad news, but refuses to report any good news about Iraq.
Actually, some of the Iraqi press has started the “bloated” Iraqi Security Forces theme. It started about 10 days ago when they announced the plan to cut the 2009 budget further to match lower oil prices. Budget wars are to be expected...
now send them the bill for all the work we’ve done...
Can we move to Iraq??
Indeed. Remember, billions every month to Iraq is good foreign policy. Billions spent here is filthy Socialism.
This story was reported by the BBC... if that’s not MSM then I don’t know what is.
I should have said “US MSM”.
I did a search, not a single article on this.
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