A government advisor identifies four paths to achieving economic diversification in Iraq.
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed on Friday that achieving sustainable economic stability in Iraq requires expanding the productive base and activating four main policy paths to reduce dependence on oil revenues.
Saleh told Al-Furat News Agency: “The first path is based on manufacturing natural resources and maximizing their added value, indicating that Iraq possesses strategic resources such as silicon, sulfur and phosphate, and that moving from exporting raw materials to processing them industrially allows for the establishment of integrated production chains that contribute to increasing returns and generating job opportunities.
He added that the second track relates to revitalizing the micro, small and medium enterprises sector, as it is capable of absorbing about 60% of the workforce if the appropriate financial and regulatory environment is available, stressing the need to link these projects to a broader industrial strategy that focuses on infrastructure.
Saleh added that the third path includes developing the agricultural sector and enhancing food security through adopting digital transformation and developing logistics services, noting that expanding agricultural manufacturing doubles the economic value of products and creates productive links between agriculture and industry.
Regarding the fourth track, Saleh called for restructuring the tourism sector through partnership with the private sector and developing tourism infrastructure, stressing that Iraq represents a historical, archaeological and religious treasure trove that can be transformed into an important source of national income.
Saleh concluded by pointing out that achieving economic diversification requires the integration of policies that link industry, agriculture, services and tourism within a comprehensive development vision to build a more sustainable economy. link
