Iraq's economy falters ... How long?
4/15/2018


There is great debate about the economic administration under Saddam, and for the period 1979-2003, some consider it a period of economic prosperity! Some consider it a period of confusion! Will something be achieved and where do we go now with our oil-dependent economy?

The Iraqi economy in the seventies was considered one of the strongest economies in the region. Iraq was a potential financial force as a result of the economic revolution and high oil prices until political change took place in Iraq.

The first president was deposed and Saddam Hussein was deposed. And that means huge costs for the war effort, which means the movement of national stocks to buy weapons, in addition to bear heavy debts in order to provide weapons,

especially since the war was very long, where it lasted eight years, I ate with it the green and the land, and went out of the land Madinah had frightening numbers, although in 1980 he had an estimated $ 300 billion reserve! It is a giant figure at the time, with all regret evaporating in the years of war with Iran!


Followed by the harsh international sanctions, as a result of Saddam's second war after the entry of Kuwait.

All that was established during the previous decades was lost due to the costs of the big war, the air strikes on all state institutions, and even the factories and private factories. .


The lack of sound economic plans and Saddam's reckless adventures have caused the Iraqi economy to deteriorate to its worst in 2003. Without the international sanctions that forced Saddam to sell oil for food and medicine, the people would not get that monthly food aid, which was a major aid to the people. In that period, which extinguished the fire of the revolution.

After the end of the era of Saddam and the emergence of a new era, where the democratic governments elected by the people, but unfortunately spread corruption to disrupt all state institutions, and waste money allocated annually, the industry is living the worst stages, agriculture is almost dead, either trade is to attract the poor goods to the Iraqi market, Which has become a major waste market.

Only to rely on oil revenues, and completely neglected the agriculture and industry and looted the annual budgets, and turned a large amount of salaries of the political class, and the benefits of the wonderful, and even the contracts of state institutions became the political class partner, and thus entered Iraq in a dark tunnel for 15 years of looting state treasury funds , By the political class and power parties.

We remember the crisis in the oil market, when the price of the barrel fell to thirty dollars, where Iraq suffered a violent shake, as a result of large annual spending and without any interest in the sectors of agriculture and industry, relying solely on the proceeds of the sale of oil, the case came to power to warn not to distribute the salaries of employees,

They have enacted unjust law by increasing deductions from employees, in addition to enacting unjust laws that give them a very large pension for the entire political class (parliament, ministers, agents, heads of independent bodies, the three presidencies). Thirty years later, Retirement ,


With the introduction of Iraq with humiliating agreements such as the licensing round, which looted the state treasury and for many years in the future, and the corrupt transactions that took place in hundreds of billions of dinars, in addition to the benefits of the huge debt that Iraq paid, so the political class of the future of Iraq's financial failure due to the absence of knowledge and conscience and The error.

It is strange that there are no clear plans or programs to correct the mistakes of yesterday, but it seems that politicians continue their negative economic behavior, which is based on the consumption of everything that enters the state treasury.

Finally, we will say: Will a day come and Iraq lives within a sound economic plan, developing its present and protecting its future?



http://www.al-mawqif.com/88102