Middle East

Spotlight On The Iraqi Economy

Spotlight On The Iraqi Economy

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raq is a very rich country in all aspects. Human resources, natural resources and a rich history are among its gifts. After the fall of Saddam, as businesspeople we expected that subsequent governments would choose the right people for the right positions, and that a qualified and patriotic government would come to run the country. Unfortunately, the US made many mistakes. They increased imports, and local and national production inside Iraq suffered. Oil prices increased, and Iraq came to depend more on this sector. As a result, the wrong people took power in Iraq. Qualified and educated personnel were pushed aside.

After 2006, under the governments of Nuri al-Maliki, there was massive corruption and theft of public wealth by parasitic groups – local companies and contractors who were ignorant, and with no loyalty to Iraq. Rather, they were loyal to neighboring countries.

The Government has continued to change hands between Islamic parties, with no changes on the ground for the Iraqi citizens and public. They controlled natural resources and siphoned money out of the country.

Over time the influence and power of other countries increased, weapons were in the hands of gangs and militias. Such sectors as manufacturing, tourism and agriculture were destroyed...

To read more visit MECRA.

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