Iraq must diversify its economy

Shafaq Information / The World Financial institution’s consultant in Iraq, Ramzi Niman, mentioned on Wednesday that Iraq has a possibility to diversify its economic system.

Niman mentioned in a speech in the course of the “Entry to Finance” convention that Iraq is progressively addressing the financial disaster that began in 2020, when the oil costs dropped, noting that the Iraqi economic system began growing in 2021, after oil costs elevated and its revenues surged.

He added that the World Financial institution thinks Iraq can rethink its authorities plans, diversify its economic system, and deal with the manpower disaster, declaring that the way in which to take action is by supporting small enterprises.

Iraq’s almost-full reliance on oil revenues places it at nice threat, and forces it to build up money owed each time a worldwide disaster that impacts oil costs happens.

https://shafaq.com/en/Economic system/Wold-Financial institution-Iraq-must-diversify-its-economy