Economist to / Nina /: The financial situation of the country needs accurate economic plans to revive it

Friday 04 June 2021 10:39
 
Baghdad / NINA / - An expert in economic affairs, Raad Twij, confirmed that the Iraqi economy needs accurate economic plans to be developed by economists to revive the country's financial situation, calling for investing in the democratic political system in Iraq and adopting the principle of broad participation of the private sector to advance the country's economy.

In a statement to the National Iraqi News Agency ( NINA ) , Twig said, "In the past fifty years, half a century, Iraq has passed the most difficult and fiercest political conditions, including political volatility, wars and various conflicts. The economic rise, on the contrary, had an impact on the economic decline.”

He added, "Iraq was and still is at the level of middle-income countries and in the ranks of countries such as Malaysia and Algeria, and its conditions are similar to those of these countries, but these countries were able to reach advanced stages and that the per capita share of the GDP of their members has reached 50% of their GDP and now the Iraqi per capita share of The GDP is 18%,

and Twij stressed, "We need to invest in the democratic political system in Iraq and adopt the principle of broad participation of the private sector in order to produce the most fertile economic ground, revive economic alternatives, benefit from economic areas close to the oil sector, and expand the domestic product resulting from non-oil sectors, especially that Estimates of experts and international organizations indicate that the time period for Iraq’s oil depletion is near, and therefore industrial and agricultural investment must be made and investment in intellectual capital.”

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