Specialists suggest solutions to reform the Iraqi economy
Investigations and Reports 03-29-2022, 11:17
Baghdad - INA - Karar Khalil
Experts and specialists emphasized the priorities of economic reform for the year 2022 by developing an economic vision to be developed according to contexts capable of practical implementation, stressing the need to develop the private sector and revitalize the financial banking sector.
In this regard, the writer Hamza Mustafa told the Iraqi News Agency (INA): "Any economic vision needs to be crystallized according to contexts in order to implement it and transfer it from the theoretical framework to the practical framework," noting that
"such a vision can only be implemented by examining ideas and determining paths and how we can implement them.
Hamza explained that "there is a vision put forward by the former Minister of Electricity Louay Al-Khatib that can be implemented starting from 2022 until 2030, during which the path of the economy can be transformed from a rentier economy to a productive one."
In turn, Duraid Khaled Zidan, a member of the Iraqi Economy Alliance, confirmed to the Iraqi News Agency (INA) that "the development of the private sector is necessary by finding alternative solutions to the rentier economy, as well as by revitalizing the financial banking sector," noting that
"the financial sector is useless due to the lack of International investors and international banks inside Iraq, and that
most Iraqi banks are banking that participate in the currency auction with the absence of development.
He stressed, "the importance of having reform plans that adhere to all these joints and take the initiative to solve the problems of the private sector."
For his part, the researcher in economic and political affairs, Mortada Al-Tamimi, explained to the Iraqi News Agency (INA) that "what is happening today in terms of the oil price boom needs real management and specialists in the fields of oil investment and non-oil investment to benefit from this increase well," noting that
""Iraq is a consumer country, not a producer, and oil must be invested appropriately by contracting with economic experts in the field of economy and development, and
on this basis it is possible to create this balance that would put the Iraqi economy on the desired growth path.
The researcher in international relations, Dr. Saadoun Al-Saadi, told the Iraqi News Agency (INA) that "the person responsible for the Iraqi economy should not take any decision before discussing what consequences it will have, because the state suffers not only from a lack of resources, but from a lack of organization of these resources."
Therefore, there must be a rational administration capable of developing a solid economy by moving from an oil rentier economy to a diversified economy, and
instead of importing foodstuffs from neighboring countries, factories are built to produce these materials locally and to save money from attrition.