Al-Hamashi to / Nina /: Iraq is on the verge of a very serious economic disaster

Saturday 01 January 2022 21:35
 
Baghdad / NINA / - The economic expert, Saleh Al-Hamashi, confirmed that: Iraq is the country most affected by the global transformation of clean energy.

He told the National Iraqi News Agency ( NINA ): Iraq is really on the verge of a very serious economic disaster if the Iraqi governments cannot find alternatives to finance the budget other than oil.

Al-Hamashi added that within the next five years, the solution will be very difficult and a heavy price for the Iraqi state, and I believe the solution today is to restructure the Iraqi economy and liberate it from the grip of the state that failed to manage and develop its non-oil resources.

He explained: Reducing the demand for oil will lead to a decrease in its price, as the price of oil in 2030 was estimated between 20 to 25 dollars per barrel, since the consumption of cars in the world constitutes 45% of global production and energy consumption is about 25% of global oil production. Oil-producing countries will reduce their revenues to about 70 percent.

Al-Hamashi indicated that Iraq is one of the most countries in the world that will be affected economically by this variable, and the state has not yet put in place any solution for an alternative to non-oil revenues./End 3

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