10 Days
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اقتصاد
Iraq's future economic independence
Iraq is working on transitioning from an economy heavily reliant on the state and oil resources to one that allows for a greater role for the private sector, with the aim of diversifying sources of income and achieving economic sustainability. Officials and experts emphasize that this shift requires rethinking the role of the Ministry of Finance, improving the business environment, and reforming legislation to enable the private sector to actively participate in development while reducing dependence on oil revenues, which account for more than 90% of the budget. However, challenges include bureaucracy, corruption, and weak banking finance, in addition to societal resistance to the loss of government jobs, which are considered the most stable form of social security.
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