With the increase in foreign investment in oil production and infrastructure, Iraq is expecting to undergo an interval of massive financial growth. For Foreign investors Iraq is just like money making machine with 30 million population and educated workforce. In Iraq, foreign investors can buy the Iraqi companies and can own the companies because they have got a fixed tax price of 25% tax price.
As you know that, USA president Barrack Obama declared to end the US fight operations in Iraq; it can take a while until the peace and political stability in Iraq. But there is still existing bit political unrest and instability but government has played a very crucial role in few of these last months.
Iraqi is actually a powerhouse for the foreign investors. No doubt Iraq remained with no progress but now paved its way toward success and will be successful. You can see the signs of economic restoration in 2009 originated first when 12 new oil contracts were given to international oil production companies. Iraq still has large proportions of oil fields and south of Iraq is blessed with massive natural resources and this is very optimistic for foreign oil companies.
Iraq has almost massive untapped oil reserves and large as of Saudi Arabia. Presently Iraqi is producing 2.5 million barrels a day but these productions does not make them a largest oil producer but the new contracts with the companies would be helpful to increase in rocky financial system and will also give important stream of overseas funding into the state’s forgotten oil infrastructure.
Now it is expecting that oil manufacturing will reach up to 10 million barrels a day so with this Iraqi can become the one of the large oil supporter and suppliers. If the prices of oil remained the constant then it can possibly increase the revenue of from oil production and oil supplying. And 280 billion dollars revenues are being expected now a year, a very large increase from the present degree of 70 billion dollar
With true management and political stability, the nation has potential to be one of the most rich and wealthiest nations in the world as well as large player of oil. Iraq could be big participant on the oil sector like UAE, Kuwait and Saudi Arabia. On the rate of growth in oil production, Iraq's GDP may well four fold per capita with the increase in oil revenues and this will convert Iraq’s fiscal deficit to having predictable fiscal assets in extra of 350 billion dollars. Later, Iraq will not require any loan from international financial fund to sustain its control of payments.
National stability and national security can prove to be one 1 of the largest factors affecting Iraq's growth. Political volatility and Domestic politics will also play a most significant role in the Iraq’s development and Iraq’s economic system. Iraq is developing and its right time to make investment in the currency of Iraq to become prosperous. Iraqi dinar will regain its actual position with the economic stability and political stability.