Member of Parliament Ali Al-Zirjawi called on the new government on Saturday to make strengthening the private sector one of its main priorities, warning that Iraq cannot continue relying almost entirely on oil revenues to support the economy.
Speaking to dinaropinions.com, Al-Zirjawi said activating the private sector is essential to finding real solutions to the economic challenges facing the country and improving overall economic conditions.
He explained that Iraq’s heavy dependence on oil exports to generate revenue and pay public sector salaries has contributed to growing internal and external debt. He warned that continuing this approach could create serious economic risks in the years ahead.
Al-Zirjawi stressed the need to diversify sources of national income, encourage investment, and give the private sector a larger role in economic development.
He described these steps as urgent requirements for achieving long-term economic stability and reducing the country’s dependence on oil.
The lawmaker also called on the government to take practical measures to address the issue now and work to limit its future impact on Iraq’s economy.
