How to Overcome Iraq’s Economic Crisis

The fourth is to promote the insurance sector in the country so small-business owners can protect their companies. Insurance companies encourage investors to support small businesses safely.

The small-business sector needs more media exposure to recruit workers, who often turn to the government for employment. Iraq’s government payroll is overwhelming, though even government officials disagree on its size. In a Sept. 10 TV interview, Prime Minister Haider al-Abadi said there are more than 4 million government employees — 20% of Iraq’s entire labor force.

Ministry of Planning spokesman Abdul Zahra al-Hindawi told news site Raseef 22 there are 6 million government employees, but his most disturbing statistic was that the average employee is only productive for 10 minutes per day. The unemployment rate in Iraq increased steadily from 15.1% in 2013 to 16.4% in 2014 and finally reached 17.6% in 2015.

Supporting small business is very important in the IS-liberated areas, which urgently need development projects to provide the minimum requirements for stable living conditions. This achievement would enable the displaced to return to their areas and stand strong in the face of IS efforts to find recruits and establish cells to restore its control over these areas.

(Crisis image via Shutterstock)

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