Iraq’s economy strong; Will not be affected by the new financial crisis

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Iraq’s economy strong; Will not be affected by the new financial crisis
A new economic crisis is being expected in the international market because the United States of America could not approve its annual budget till the date. United States of America is fang this situation second time. Before this,  it happened in 2008 when Iraq could not approve its budget in the due period. Some of the Dinar experts are of the view that this situation in America can be resulted in a global economic crisis.

Contrary to this Iraqi government officials are of the view that the Iraq economy is strong and will not be affected by the recent crisis in the United States of America. According to the chairman of the securities commission, Dr. Abdul Razzaq Al Saadi, the economy of Iraq can be affected in only one case if the United State of America does not release their payment in the due time. If the United States of America does not release the payment for the stock available in the international market, the oil prices will decrease in the global market. This issue can affect the Iraqi Dinar Revaluation and economy of Iraq.

According to the chairman of the securities commission of Iraq, Iraq has no direct investment in any other country, especially in America. Therefore, the situation of America will not affect the economy of Iraq. Some expert says that it will be the first time in the history when the United States of America will be in the list of defaulters of the world if the situation could not be handled properly. According to wall street journal report, the European market has observed the signs of defaulter since last 10 days. The chairman of the securities commission of Iraq told that Iraq is facing this kind of situation second time in the history. The economy of Iraq was affected in 2008 at the first attempt but now in 2013, the situation is different and Iraq has learned from his mistakes of the past, and it has managed its economic policies in the way that it does not effect by any global crisis or situation.