By Ali Al-Mawlawi, for the Italian Institute for International Political Studies (ISPI). Any opinions expressed are those of the author(s) and do not necessarily reflect the views of Iraq Business News.
Economic Reform in Iraq: The Need for Focus and Persistence
Iraq is facing the biggest challenge to its economy since 2003.
Even during the vicious and costly conflict with ISIS, when oil prices plummeted and the government struggled to finance the war, the economic shock did not appear to be as insurmountable as it does today.
The COVID-19 epidemic in Iraq has shown no signs of abating and the IMF predicts that Iraq's economy will contract by 4.7% in 2020.
The most immediate challenge for the government is finding enough money to cover the country's basic running costs including schools, hospitals, public salaries and social welfare.