Home
An economist warns of the collapse of the Iraqi economy and provides solutions
economy | 05:30 - 09/09/2024
Mawazine News - Baghdad
An economic researcher considered the existence of 8 hidden weaknesses in the Iraqi economy, in a comment on fears of the collapse of the economy,
describing that the collapse essentially occurred a long time ago, and
fluctuations in oil prices prolong or accelerate the final collapse.
Economic researcher Manar Al-Obaidi said in a statement that
with the decline in oil prices and the unprecedented rise in operating expenses to reach a growth rate in current expenditures exceeding 30% and a decline in revenues by 16%, the most important question arises:
Is the Iraqi economy facing a crisis or collapse?
The sustainability of any economy depends primarily on the
diversity of its sources and the
control and planning of its expenditures.” He continued,
“We cannot expect the sustainability of an economy in which more than 500,000 researchers enter the labor market annually and is unable to create productive job opportunities with more than 20 to 30 thousand opportunities as a maximum, and an economy based on sales of one commodity and whose prices are not controlled through One port and only two countries.”
He described the Iraqi economy as “an
economy based on a deteriorating business environment with no role for the private sector in turning the wheel of the economy, an
economy that adopts the private sector and pastoral laws and legislation and gives preference to the public sector, a
consumer economy based on an unprecedented consumption pattern without production having a role, an
economy that employs more than 6 million employees with almost non-existent productivity, an
economy marred by corruption, lack of transparency and inequality of opportunities, an
economy that does not have foreign investments and is unable to attract them.” He concluded:
“The collapse occurred a long time ago, and the
fluctuations that are occurring in oil prices are merely prolonging or accelerating the collapse process, and the
manifestations of the collapse will be faster than the decline in oil prices.”
https://www.mawazin.net/Details.aspx?jimare=254671
economy | 05:30 - 09/09/2024
Mawazine News - Baghdad
An economic researcher considered the existence of 8 hidden weaknesses in the Iraqi economy, in a comment on fears of the collapse of the economy,
describing that the collapse essentially occurred a long time ago, and
fluctuations in oil prices prolong or accelerate the final collapse.
Economic researcher Manar Al-Obaidi said in a statement that
with the decline in oil prices and the unprecedented rise in operating expenses to reach a growth rate in current expenditures exceeding 30% and a decline in revenues by 16%, the most important question arises:
Is the Iraqi economy facing a crisis or collapse?
The sustainability of any economy depends primarily on the
diversity of its sources and the
control and planning of its expenditures.” He continued,
“We cannot expect the sustainability of an economy in which more than 500,000 researchers enter the labor market annually and is unable to create productive job opportunities with more than 20 to 30 thousand opportunities as a maximum, and an economy based on sales of one commodity and whose prices are not controlled through One port and only two countries.”
He described the Iraqi economy as “an
economy based on a deteriorating business environment with no role for the private sector in turning the wheel of the economy, an
economy that adopts the private sector and pastoral laws and legislation and gives preference to the public sector, a
consumer economy based on an unprecedented consumption pattern without production having a role, an
economy that employs more than 6 million employees with almost non-existent productivity, an
economy marred by corruption, lack of transparency and inequality of opportunities, an
economy that does not have foreign investments and is unable to attract them.” He concluded:
“The collapse occurred a long time ago, and the
fluctuations that are occurring in oil prices are merely prolonging or accelerating the collapse process, and the
manifestations of the collapse will be faster than the decline in oil prices.”
https://www.mawazin.net/Details.aspx?jimare=254671
