Thursday 3 November 2016 | 12:39

Expert: Iraq's economy develops, "slow" and we need these steps

BAGHDAD / ... stressed the economic expert on behalf of Antoine, on Thursday, that the Iraqi economy began to evolve at the moment, but very slowly, and as pointed out that the rentier economies crumble and fall very quickly and recover gradually, he stressed the need for Iraq to revitalize the private sector and curb corruption and reduce the budget deficit to improve its economic situation.

Said Antoine's "Eye of Iraq News" that "the Iraqi economy began to evolve in the moment after the steps taken by Prime Minister Haider al-Abadi by declaring a state of austerity and other measures that, but it develops very slowly," explaining that "rentier economies crumble and fall very quickly and recover gradually and this is what he catches those responsible for the economic sector after the great collapse of the economy because of falling oil prices. "

He explained economist that "Iraq needs to stimulate the private sector and curb corruption and reduce the budget deficit to improve its economic situation", adding that "hand over responsibility for management of the economy of the country to politicians is competent economic sphere has led to the Great Depression that we have seen during the past period."

Iraq has suffered from a major economic crisis because of falling oil prices, which relies on oil for almost all its revenue, in addition to the cost of the war against the "Daesh" criminal gangs.

https://aynaliraqnews.com/index.php?aa=news&id22=66428