October 12, 2021 | government

Economist: Many Economic Problems Await The New Government


Baghdad / NINA / - The expert in economic affairs, Raad Twij, confirmed: 'The new government will find many economic problems that need thoughtful solutions after the success of the elections.'

He said in a statement to the National Iraqi News Agency (NINA): ' economic problems await the new government that need solutions and radical treatments, such as the exchange rate, unemployment, population inflation, slums, poverty, backwardness of industry, agriculture and electricity deficit.'

He added, 'The government will inherit a rentier economy, import consumption, and education that suffers from the consequences and shadows of the Coronavirus crisis, Iraq's exit from knowledge and the low level of human development.'

The economic expert pointed out: “The success of the elections can have a significant impact on political and economic stability, if there is a sound economic vision,” noting: “Iraq is going through an economic growth of 1% after the rise in oil prices to $80 a barrel, and it is possible that the economic growth rate will rise to 2% with the success of the elections, as sound democratic practices reduce cases of corruption and make disclosure and transparency a feature of the Iraqi economic situation.

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