Finance Minister: Economic inefficiency has wasted a lot of money obtained from oil revenues

by **RamblerNash** Sun Dec 12, 2021 10:49 pm

Saturday 11 December 2021 22:07

Baghdad / NINA / - Minister of Finance Ali Allawi confirmed that the economic inefficiency wasted a lot of money obtained from oil revenues.

Allawi said in a televised statement: "The White Paper is an Iraqi project to strengthen the economic pillars of the state."

He continued: "There is a loss of economic vision in general caused by political factors, adding that the Iraqi economy is based entirely on oil revenues."

He stressed, "The global trend of alternative energy will deal a major blow to the economies of the rentier countries."

He pointed out that the Iraqi dinar in the twenties was equivalent to the pound sterling, adding that the Iraqi state budget depended on the export of agricultural products in the twenties.

And he indicated, that the goal of forming the Reconstruction Council is to develop strategic projects./ Ended 2

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