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Expert warns of dark economic future awaits Iraq

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Rocky


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Expert warns of dark economic future awaits Iraq


17:07 - 19/08/2017


Economist Bassem Jamil warned on Saturday of the collapse of the Iraqi economy after the rise in foreign debt ratios and the continued decline in oil prices with the neglect of industry and agriculture. He pointed out that the volume of debt reached dangerous stages after exceeding 122 billion dollars.

"The Iraqi economy is going through a very difficult curve and may reach the brink of collapse in light of the disruption of the fixed resources to support public budgets such as industry and agriculture and continue to rely on the unilateral rent economy of oil revenues continue to decline," Jamil said in a statement.

He added that "the size of the public debt of Iraq reached a dangerous stages by exceeding the $ 122 billion, pointing out that" the risk lies in spending most of these funds to secure salaries and projects and imaginary pockets of corrupt and neglect of the investment side, which means not being able to pay and will suffer the generations later many may need to club Paris second out of this crisis. "

It is noteworthy that the three provinces entered by Dahesh need more than 78 billion dollars for the reconstruction of infrastructure only in light of the economy is exhausted and the size of large debt.

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