Economist: Hormuz Crisis Temporary

The article stated that the Gulf of Hormuz crisis is temporary and that the real problem lies in the deep imbalances within the Iraqi economy. It emphasized that ending the crisis alone will not solve the country's fundamental economic issues. The report clarified that postponing reforms for years has led to worsening conditions, with expectations that the state will emerge from the crisis heavily in debt and depleted of its financial reserves. It confirmed that reform requires a comprehensive restructuring, including reducing reliance on the public sector and developing productive sectors to create jobs. These reforms should continue for several years, starting with improving education, amending laws, and promoting transparency and accountability. The article warned against dealing with crises only as temporary issues, comparing such approaches to the recurring problem of power outages that resurface whenever temperatures rise.

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