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Al-Sadr submits five suggestions to overcome the economic crisis in Iraq

Category: Iraq News

Date: 2022-03-05T10:22:32+0000
Al-Sadr submits five suggestions to overcome the economic crisis in Iraq

Shafaq News / On Saturday, the leader of the Sadrist Movement, Muqtada al-Sadr, considered that summoning Finance Minister Ali Allawi to Parliament for questioning is "insufficient," submitting five proposals for the economic crisis in Iraq.

Al-Sadr said on Twitter, "summoning the Minister of Finance to Parliament is not enough, as the poor are still affected negatively... Prices are constantly rising, and global prices should not be an excuse for this issue. Quick solutions must be taken."

The prominent Shiite cleric suggested increasing the aid in kind for the poor in villages and rural areas, activating the role of economic security, and supporting farmers and local goods.

He also called for providing every citizen with a share of oil.

In 2021, AM Best issued a report saying that Iraq is among the countries that determine a high risk on the economic level.

The Company said that Iraq's economy is highly undiversified, as it is highly dependent on the oil sector. In addition, the COVID-19 pandemic has exacerbated the country's economic vulnerabilities to external demand conditions.

According to the IMF, addressing governance weaknesses and reducing corruption will be vital for Iraq's future economic development.

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