With the fear of entering a new phase of the Corona pandemic: What are the repercussions of the crisis on the Iraqi economy?
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And if the first stage of the epidemic has doubled the level of poverty in Iraq and affected the owners of free professions significantly, as well as the fluctuation in the process of receiving salaries for employees, then how will the situation be in the coming period ?!
Ahmed Al-Dulaimi / owner of a clothing store is afraid of the economic recession that occurred in the country after the Corona pandemic, as the previous stage resulted in many shops being closed and offered for sale or rent due to the inability of their owners to pay their rents or dispose of their goods, and the owners of professions that stopped due to the outbreak of the virus They were forced to spend all their savings - if any - and their customers, who used to buy goods often in installments or by paying later, were unable to pay what they owed because their salaries were late or they suffered from the same problem and their business stopped due to the quarantine that lasted for months and greatly affected the Iraqi economy ..
As for fish breeder Haider Al-Khazraji, he complains about his inability and his colleagues in the profession to sell their fish crops due to the weak purchasing power of customers in the market, which affected many food and luxury products and led to the suspension or decline of some professions, especially since the issue is continuing and its impact on the economy may extend for other months or perhaps A little more ..
and the Ministry of Planning had revealed the rate of increase in poverty in Iraq, as a result of the Corona pandemic, and the ministry’s spokesman, Abdul Zahra Al-Hindawi, said that the ministry had devised a plan to avoid an increase in the rate of poverty, indicating that the Covid 19 pandemic and the financial crisis had caused an increase in poverty rates In Iraq, to more than 31%, adding that "the vulnerable segments of society were the most affected and affected by this crisis as a result of the stopping of many businesses, especially the private sector."
Dr. Maeda Hussein / Accounting Department at Al-Rafidain College believes that the Corona pandemic wreaked havoc in the global economy until it was paralyzed, as it obstructed production, supplies and air transport across the world, weakened global demand and hit the financial, aviation, transport and tourism sectors with heavy losses, and the world has been affected by this pandemic, especially countries. The same fragile economies, which are economies of a unilateral nature that are not able to adapt to local or international crises, it is known that the Iraqi economy depends mainly on oil, and there are expectations of a contraction in the economies of the world countries and could reach the level of economic recession, which indicates the need for financial support A huge number of governments in the world to revitalize their economy after the Corona pandemic, at a time when Iraq is already suffering from a financial crisis.
As for Dr. Tariq Abdul-Hafiz Al-Zubaidi, a specialist in political science, he believes that the Iraqi economy has been affected by the repercussions of Corona, as is the case for the global economy, and the most prominent economic repercussions are the decline in global oil prices, and the impact of this was the most severe on Iraq, which depends on its financial budget up to 95% on the money it reaps from Selling oil, as Iraq today is facing a severe crisis that may threaten the economy as a whole, and the reason is that Iraq has not developed an alternative plan for such events, in addition to not activating other resources such as agriculture, industry and trade, since the political change in 2003 and until today it has not worked to explore new fields in The vast areas, most of which may be a fertile environment for oil extraction, and according to many reports, Iraq indicates the possibility of extracting gas and sulfur, especially in Anbar Governorate or in some southern governorates that have minerals that have not been explored or invested, such as mercury, for example ..
For her part, the economic expert, Dr. Ikram Abdel Aziz, stresses that there are means to overcome the economic crisis, including activating the role of small and medium industries and opening training courses for unemployed youth by civil society organizations or banks that grant loans to establish private projects. Investment can also become an element. Active in restructuring the Iraqi economy by securing the entry of capital and employing it in real projects that serve the economy and development by bringing in investments, technology and expertise in a way that diversifies the trade balance to avoid the oil restriction and the diversity in the export content of products and goods and even in the service side of them with Sizing the import content and investing in the minds of experts, including inventors and innovators.
At a time when the economic researcher Adel Al-Taie believes that the epidemic will prolong and the vaccine will not be easy soon, so coexistence with Corona will become urgent and exit from the economic situation and social isolation is inevitable, because the precautionary measures and home quarantine were not an easy decision, especially since its tax may lead to An economic recession may be more deadly than the virus itself. / End