Economy of Iraq in 2014

Iraq is always in media reports by its critical security situations and facing a difficult security environment than any other country of the world. Despite of its all security issues, the annual growth of Iraq is about 9% that is more than any other developing country of the world and Iraq is growing its economy with the good pace and facing all the security and economic problems with rational security and economic policies.

The companies who are operating in Iraq for numbers of years are fully satisfied and they are expanding their businesses with every passing day. The Iraq oil and gas industry received thousands of quotations from different companies of the world and signed numbers of contracts in this industry in 2013. Therefore oil production and export is at record levels than previous years of Iraq. The famous companies like PWC are fully satisfied with the business in Iraq and looking for expansion in their business.

According to PWC, their growth rate in the oil industry is 30%, which is so exciting for the company as well as in Iraq. Iraq budget will be announced in 2014 and hopefully, it will be one of the healthiest budget of Iraq than the previous ten years. One of the finance committee members is of the view that Iraq generation will see a number of changes in 2014 and these changes will be positive and productive. According to experts Iraq will the business hub for oil companies in the near future and Iraq realize it very well?

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