The Iraqi Ministry of Planning (MOP) announced on Monday, December 27, that an increase in positive indicators for the economy in 2021 had been recorded.
Abdul-Zahra Al-Hindawi told the official Islamic Republic News Agency, “The rise in the prices of goods worldwide came due to the interruption of the supply chain between the countries of the world, which led to the scarcity of materials and the increase in demand for them, whose price will certainly rise.”
Al-Hindawi explained about economic indicators, readings of exchange rate, and Iraq’s reliance on the local product, “The reading and the emergence of results will be after two years at least,” noting that “the return of life to normal and the suspension of the ban measures related to Corona, contributed to the rotation of economic activity in a general”.
He stated, “All economic development movement has positive results and effects on reality,” noting that “the ministry has not prepared a report on economic indicators during the year 2021 because the year has not ended yet, but there is an improvement in many fields.”
He underlined that “all projects that had been suspended were resumed, as the government projects that were suspended due to the financial and economic crisis,” stressing that “the movement of these projects generates job opportunities.”
He also added, “Those who lost their jobs in the past year 2020, returned to their jobs, which helped in the economic movement, as well as many projects in the private sector, in the field of housing and in other fields, and they began to work, all of these are positive indicators in the year 2021.”
Al-Hindawi said, “Inflation is calculated according to indicators, including the rise and fall of the local currency, the increase in demand for goods from existing goods and the presence of a monetary mass in circulation, as well as what prices are witnessing worldwide.”
He concluded, by saying: “Inflation in all countries has risen, as a result of the rise in food prices in the global market, and the smoothness of supply between countries has stopped due to the pandemic.”