Government is required to achieve sustainable economic development over the next two years and not rely on oil
Baghdad (newsletter) … Forecast Economist Ismail rady, slowdown in world economic growth over the next two years, which would make world oil prices as low as a result of low demand, calling on the Federal Government to achieve sustainable economic development to diversify the financial revenues and not rely on oil sales.
He said content (for news News Agency): that oil revenues are moving resources and are not fixed any affected by any global economic crisis in particular that the national economy is supported entirely on oil making vulnerability directly if falling world oil prices.
He added: the world today is economic crisis especially in the euro-zone countries which have made global oil price index downward, likely is heading down this crisis for the next two years in the absence of radical solutions to address this crisis by the European Union.
According to: the Federal Government is required to develop a comprehensive economic plan to promote real economic sectors, whether agricultural or industrial or trade for sustainable development and rental economics one-sided to multifaceted economy especially that Iraq possesses distinct economic fundamentals to help the national economy from potential crises during the next two years.
Eurozone countries are suffering a severe economic crisis due to stop its debt accumulation and forced some European countries such as Greece to implement the austerity policy, born of fear of Arab economic impact of the crisis on their economies in terms of reduce trade with European countries.