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Economy News - Baghdad
On Thursday, the Ministry of Planning revealed a move to prepare a five-year development plan for the development of the Iraqi economy, while indicating that there is a trend towards developing the country's economic resources according to three determinants.
Ministry spokesman Abdul-Zahra Al-Hindawi said that "the ministry is preparing to prepare new five-year development plans for the next five years," noting that "this plan will take into account all challenges and changes and what is related to the economy, energy and food."
Al-Hindawi added, "The trend now is towards developing the sources of the economy and activating the agricultural sector according to modern methods in agriculture and rationing water use with regard to agriculture in particular, to ensure the sustainability of water sources in a way that secures the country's need for human and agricultural consumption," stressing that "we are moving towards achieving food security and sufficiency." self from Iraqi agriculture.
He explained, "The Corona pandemic affected the country's economy negatively, and caused a state of economic downturn in Iraq and the world, which disrupted the state of economic growth planned within the development plans."
He stressed, "The failure to achieve growth will pave the way for a state of decline in the rates of economic reality, which will directly affect the livelihood of the individual, in addition to the fact that the decline in oil prices during the past two years 2020 and 2021 greatly affected Iraq, whose economy depends mainly on oil, which was negatively reflected." on projects, and the impact on job opportunities and others, all of which are factors that affected the living life of the Iraqi individual.”
He stated, "The Iraqi economy is part of the global economic system, and is affected by conditions, including the rise in food prices in the global market, as well as energy prices, in addition to water scarcity, which is a global crisis."
In a statement to the official news agency, Al-Hindawi pointed out that "many countries in the world witnessed an increase in annual inflation rates, such as America, European countries, Turkey, Iran, the Gulf states and some African countries."
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Added 08/04/2022 - 8:38 PM
Update 08/05/2022 - 12:36 PM
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