Economic expert Safwan Qusay explained on Thursday how Iraq can improve its budget, increase government revenue, and boost economic growth.
Speaking to Dinar Opinions, Qusay said the next phase should focus on reducing unnecessary spending, creating new sources of government income, improving tax collection, and better managing non-oil revenues. He also stressed the importance of involving the private sector to help make up for the shortfall in government spending and maintain financial and economic stability.
Qusay said Iraq is in a position to attract international companies and investment from different countries. He believes the money flowing into the economy in the coming period could help cover the gap in public spending.
He added that new investments could create jobs across several sectors, support economic growth targets, and reduce Iraq’s dependence on oil prices and export volumes. The goal is to move the country toward a more diverse economy with sustainable sources of income for the future.