A bright future for Iraq economy – Saudi Gazette

A bright future for Iraq economy – Saudi Gazette

For a country enshrined in political controversy and uncertainty, the economic outlook for the future of Iraq looks optimistic, according to Rabee Securities Founder and Chairperson Shwan Ibrahim Taha. He said: “Under the circumstances, the Iraq markets and economy have managed to stand firm, which is what is required in a such difficult political standstill and tense geopolitical situations”.

Iraq has entered a legislative vacuum with the government in Baghdad acting as a caretaker cabinet without the executive authority to deal with the broader matters of the state, having only limited authority to conduct regular business related to security, health, education, and social services.

Despite this, interim progress has been made as the new President, and the PM immediately began forming bilateral relations with representatives from Saudi Arabia, Japan, China, England, and France to call on them to invest in Iraq. More recently, Saudi Arabia’s Public Investment Fund (PIF) announced that it would set up a company to invest in Iraq, which is expected to pave the way for a raft of government implementation of laws and regulations to attract further overseas investors to the country.

Taha emphasized that such a positive outlook must be accompanied by precise, sustainable, and measured policies starting