International Monetary Fund, questioned the ability of Iraq to achieve its ambitious targets to increase its oil production, in the absence of infrastructure has sufficient strength. And reduction in the form of slight, in a progress report on the loan granted to Baghdad in February (February) the past, estimates of oil production this year.
The Fund relies on the production of 2.75 million barrels per day this year, compared to 2.8 in one million expected in October (October) last year.
And as much as Iraq's production by 2.35 million barrels per day last year. In the long term, have this production, which provides more than ninety percent of revenue for Iraq, a slim chance to reach production of 13 million barrels per day by 2017.
UNFPA believes that conditions were not yet available to enable Iraq to revive the production of «with it comes after Saudi Arabia in terms of proven reserves» of 143 billion barrels.
IMF economists said: «Even if production targets are achievable in the long run, the biggest dangers in the coming years is to choke points in the infrastructure for export, a problem must be solved». The Fund has developed two possibilities, one of «ideal» Iraq exceed the production of ten million barrels per day in 2016, and the other «cautious» is not expected to increase production to five million barrels, but by the year 2017. It also raised its estimate of growth rate to 12.2 percent for 2011, compared to 11.5 percent in the previous report in October.
According to estimates that the growth was only 0.8 percent last year. And to the extent the Fund's unemployment rate of 12 percent in 2008, but pointed out that the real unemployment especially among young people may be greater, because a large part of the adults are not in the labor force.
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