International Monetary Fund mission: We expect growth in the Iraqi economy, 10 JUNE

  International Monetary Fund mission: We expect growth in the Iraqi economy

The head of the International Monetary Fund mission in Iraq, Dr. Ghazi Shubaikat: There has been growth in the Iraqi economy in light of the reforms adopted by the government, at a time when he stressed that Iraq must work to achieve financial sustainability while having the elements to achieve this goal.

Al-Sabah met with the head of the mission and asked him the following questions:

*What does the Fund expect for the future of the Iraqi economy?
- The Fund expects growth in the Iraqi macroeconomy, in conjunction with the reforms adopted by the government with the aim of creating realistic solutions to all economic problems, and we sensed seriousness from the Iraqi government in the field of achieving economic reforms that strengthen the relationship with the Fund, and this encourages the strengthening of cooperation in a way that serves the Iraqi economy, which is suffering. Chronic problems.
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How does the Fund support the Iraqi economy and what is the source of support?
The International Monetary Fund supports Iraqi reforms that achieve financial sustainability, keeping Iraq away from any crises affecting the oil market, which Iraq relies on to cover its annual expenses, especially since a country like Iraq needs large revenues to cover the needs of all sectors, and this needs to create Real financial sustainability through reviving the productive and service sectors and bringing the capital cycle into a local context.

*What do you advise regarding reducing unemployment rates?
Iraq must focus on the labor market and create advantages in the private sector equivalent to what it obtains in the public sector, so that employment can be directed to the private sector, which must be activated within limits commensurate with Iraq’s economic capabilities.

*What does the Iraqi labor market need?
It is necessary to work on training and qualifying human resources in all specializations in light of the presence of human wealth that can be employed in a way that serves Iraq, with the need to create skilled labor in all sectors and in a way that is consistent with the government’s reform policy.

*In your opinion, where are the strengths in the economy?
- The private sector represents an economic force that can overcome challenges and gradually advance the national economy. It addresses many problems, especially since Iraq can achieve a diversity of revenues from sectors, some of which are distinguished by achieving sustainable revenues.

*What about the financial sector?
Competitiveness in the financial sector can create a solid financial sector with advanced services and safe and transparent money paths that support the economy and the stages of development it seeks and works to achieve, and reaches the most important goals of financial sustainability.   link