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World Bank: Small and medium-sized companies provide 60% of job opportunities in Iraq
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Economy News - Baghdad
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Economy News - Baghdad
The representative of the World Bank in Iraq, Ramzi Numan, confirmed that 60% of job opportunities in Iraq are carried out by small and medium enterprises.
Noman said at a conference on supporting small and medium-sized enterprises in Baghdad that "Iraq is gradually emerging from the deep recession that it experienced in the year 2020 due to the Corona pandemic," adding that "Iraq achieved economic growth of 2.2% in the year 2021 after the economy had contracted by 11% in the year." 2020".
He pointed out that "Iraq has a unique opportunity to start rapid reforms and redirect government spending towards programs that improve growth, which is very important and address the problem of human capital in Iraq."
He pointed out that "the market for small companies is still small and limited, because Iraq suffers from the absence of an environment incubating entrepreneurship and most of the small and medium companies are not registered," noting that "small and medium companies provide 60% of the job opportunities available in Iraq."
He pointed out that "the small and medium-sized companies sector suffers from low services and financial intermediary, which made it the smallest sector in Iraq and the region."
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