An expert calls on the government to diversify funding sources and establish a sovereign fund.
An expert calls on the government to diversify funding sources and establish a sovereign fund.
2025/04/27
Economic expert Rashid Al Saadi called on the government, on Sunday, to seriously consider finding non-oil financial resources to support the general budget, stressing the importance of establishing a sovereign fund aimed at supporting future generations.
Al-Saadi confirmed in a statement to Al Furat News Agency that “the government’s steps to support the private sector remain modest despite its relentless efforts in this direction,” noting that “there is an urgent need for practical, applied steps to support the private sector, especially with regard to the dealings of bureaucrats.”
The economic expert criticized what he described as “the lack of a professional culture among some officials,” noting that “quotas play a role in appointing incompetent individuals to certain positions.”
Al-Saadi stressed the need for the government to pay greater attention to diversifying the country’s sources of income and moving away from its total dependence on oil. He asserted that establishing a sovereign wealth fund represents a vital step toward ensuring the future of future generations and the sustainability of the national economy.
alforatnews.iq
