Allawi calls for a (revolution) in Iraq!
Baghdad – Iraq today: Iraqi Finance Minister Ali Allawi said that the Iraqi economy needs a real revolution in changing its structure from rentierism to diversifying sources.
Allawi said, while heading the Iraqi delegation participating in the spring meetings of the International Monetary Fund and the World Bank in Washington, that saving the Iraqi economy and correcting the course of fiscal and monetary policy requires a real revolution to change its structure.
He added that the Iraqi economy needs to be transferred from a rentier economy that depends on oil as a main source of revenue to a diversified economy, especially after indicators showed that it is not possible to rely on oil to build and develop the country.
He explained that the Iraqis suffer from previous and inherited institutional laws and procedures that must be addressed if we are to invest the country’s resources and its strategic location in a proper manner and adapt the economy to the post-oil era.