An economist explains the reason for the decline of the Iraqi economy

11/25/2020 12:54:20
 
(Baghdad: Al Furat News) Economist Jamil Antoine confirmed, today, Wednesday, that the reason for the decline of the Iraqi economy is the rampant administrative corruption after 2003.

Antoine said in an interview with Al-Furat News that "the Iraqi economy is proceeding in a random way and in a great impasse, but it is not without hope, and it is possible to return it to its predecessor," noting that "there are still riches of possibilities and democratic energies and the issue remains in the management of the economy."

Antoine added, "The issue is not limited to money only. The rampant administrative corruption and the failure to place the right person in the right place greatly affects the issue of the economy."

The economist described the budget as "the mother of two handicaps. The first deficiency is reliance on the oil resource and the failure to find another alternative, and the second defect is spending for non-investment purposes."

Regarding the establishment of industrial cities on the outskirts of cities, Antoine pointed out that "we do not need to establish cities and build anew. We have many industrial cities. It is better to invest them and preserve public money from waste, as we are in a financial crisis at the present time."

Hussein Hatem

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