Finance Minister: Economic inefficiency has wasted a lot of money obtained from oil revenues
Saturday 11 December 2021 22:07 | economic Number of readings: 198
Baghdad / NINA / - Minister of Finance Ali Allawi confirmed that the economic inefficiency wasted a lot of money obtained from oil revenues.
Allawi said in a televised statement: "The White Paper is an Iraqi project to strengthen the economic pillars of the state."
He continued: "There is a loss of economic vision in general caused by political factors, adding that
the Iraqi economy is based entirely on oil revenues."
He stressed that the global trend of alternative energy will deal a major blow to the economies of rentier countries.
He pointed out that the Iraqi dinar in the twenties is equivalent to the pound sterling, adding that
the Iraqi state budget was based on the export of agricultural products in the twenties.
And he indicated, that the goal of forming the Reconstruction Council is to develop strategic projects.
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