Iraqi Economy 'Riddled with Corruption' - Panorama Insurance Brokers

Iraqi Economy ‘Riddled with Corruption’

The former government had handed the new administration empty coffers, leaving them with only $300 million in Iraq’s treasury. Iraq’s budget depends on oil, but there are many other non-oil resources that can be included to budget such as taxation, utilities, customs, export, etc. Therefore, the salary crisis can be addressed if the government is willing to tackle the challenges and find solutions.

The government has not rectified any of the problems and it does not have the correct vision for dealing with the economic crisis because it lacks real economic experts. The White Paper does not address the problems of poverty and unemployment, but rather is an indicator of flooding Iraq with internal and external debt, which will cause the spread of poverty, unemployment and negative phenomena within the society.

About Iraq Business News

Since its launch in February 2010, Iraq Business News has grown rapidly to become the leading news service for all who are interested in the development of Iraq.