Al-Kazemis Financial Adviser – Iraq is on the brink of economic recovery
{Baghdad: Al Furat News} The advisor to the prime minister, Mazhar Muhammad Salih, confirmed that Iraq is on the brink of economic recovery, indicating that the Supreme Committee for Reform has important decisions to advance the public and private sectors.
Saleh said, in a press interview, that “Iraq is on the edges of economic recovery at present in two areas. The first is that there is a tangible agricultural boom that will achieve growth in non-oil GDP in 2021 by more than 4%, which is about one and a half times higher than the population growth.” He added, “The second scope is the boom in the energy demand sector in the world. Oil prices have gradually recovered, which is a positive sign and strengthens the country’s overall financial capacity.”
Saleh stressed “the necessity of dealing with this matter with great caution, by laying a foundation for sustainable development and minimizing economic shocks.”
He pointed out that “the international community supporting Iraq through the International Financial Alliance team that was established months ago expressed its desire to support the firm principles of sustainable growth in the national economy as expressed in the white paper recently approved by the Council of Ministers by establishing a blueprint and an institutional entity (for economic reform), which is considered The support for this developmental sustainability. ”
He added, “The formation of the Supreme Committee for Reform that will have decisive and radical executive decisions to promote productive, investment and operational activity in the public and private sectors will be supported by a large international presence represented by international multilateral financial institutions and the Group of Seven major industrialized countries.”
He pointed out that “the availability of national and international will will be embodied by participation in reconstruction and the establishment of the reform team and the country’s transformation from (crisis economy) to (construction economy and sustainable development), to be the cornerstone of the economic transition for development.”