Economist: The government is required to shift to a flexible economy by encouraging investment and protecting investors from extortion, 1 DEC

  Economist: The government is required to shift to a flexible economy by encouraging investment and protecting investors from extortion

Economic expert Saleh Al-Hamashi called on the government to shift to a flexible economy by encouraging investment and protecting investors from government blackmail and others.

He said in a statement to the National Iraqi News Agency ( NINA ): “The global economic conditions are fluctuating, global growth is slowing down, the region is suffering from major political and security crises, events are accelerating, and the possibilities are many, and all of these events are casting a shadow on the region’s economies.”

 Al-Hamashi added: “Iraq already suffers from the problem of the rentier economy, which by its nature is inflexible in the face of economic, political and security fluctuations, as it turns the state into a financial one and leaves it out of the general economy.”

 He pointed out: "Iraq today has benefited from the rise in global oil prices, but has been affected by the rise in global prices for foodstuffs. All commodities have also risen globally, and the government is unable to address or compensate for the shortage locally because the Iraqi economy has become a hostage of regional and global economies."

Al-Hamashi expressed his belief that the impact has become direct on the Iraqi economy in all economic developments, calling on the government to develop a plan to transform into a flexible economy capable of facing all changes by encouraging investment and protecting investors from governmental and non-governmental blackmail, as well as activating the role of banks in moving the wheel of the economy. By providing cash liquidity and easy movement of funds.”  link