Economist: Iraq must take swift action to rescue the economy

By Mustafa Curran 16 minutes ago 12-14-15

Roudao - Erbil

He said economic expert, Salah al-Din Kaku, that Iraq depends on oil revenues by more than 80 percent, indicating that the decline in oil prices is necessary for Iraq to take swift action to lift the economy.

He said Kaku, network Roudao media he was "wrong to the Iraqi government's dependence on oil, so they must take prompt and serious action to lift the economy through interest and other economic areas."

Kaku said that "Iraq has a lot of economic resources but neglecting all other aspects and dependence on oil has led to a gradual breakdown in the Iraqi economy."

He said economic expert, that "Iraq is an agricultural country and the government should attention to this aspect, as well as interest in the industrial domain and customs border".

Kaku He continued that "I expect the occurrence of a total collapse of the Iraqi economy in 2016 with the existing fiscal budget deficit, and the lack of government attention to other economic aspects."