Iraqi Economists Network

شبكة الاقتصاديين العراقيين

Latest Economy News

Abadi promises to overcome economic crisis through cooperative actions between provinces

ERBIL, Kurdistan Region – At a high-level meeting with Iraqi provinces’ officials, Iraq’s Prime Minister Haider al-Abadi discussed the economic crisis the country has been suffering and said that when there is a stable security situation brought about the economy will develop.

“Iraq will strongly prevail over the economic crisis it is suffering from through patience and cooperation between all parties,” Abadi told attendants of the meeting according to an announcement from his media office.

One of the successful procedures the government has followed, Abadi claimed, was that working “on decreasing the government’s expenses,” and making instrumental reforms within the government.

“Cooperation between the government and the provincial councils is the leading factor for development and improving ways of providing services to our people,” Abadi stressed, reiterating that ” [economic development] is fulfilled through cooperative actions rather than hostility and rivalry.”

Abadi has also emphasized that making reforms of investment sector is the key factor for development based on “transparency.”

Due to a decline in the price of oil, the war with ISIS, Iraq has been hit hard by economic crisis. Last summer Iraqis held street demonstrations against the Abadi government over its failure to resolve economic crisis through reforms within the government cabinet.

Following weeks of public protests across Iraq, most notably in Baghdad in mid-2015, Abadi announced a series of reforms, including slashing high paid and unnecessary government positions.

Earlier this week the Iraqi Shiite cleric Muqtada al-Sadr warned Abadi that people are angry with the government, claiming that no reform has taken place.

“If the government does not make reforms in 45 days, we will take away its confidence,” said Sadr in an audio tape message released on Saturday.

Source: Rudaw 17/2/2016


Comment here

%d bloggers like this: