The government of Iraqi Prime Minister Mustafa al-Kadhimi has pinned high hopes on a ‘white paper’ it issued to address economic challenges despite converging viewpoints on its ability to introduce reforms following years of mismanagement and corruption that have put the country on the verge of bankruptcy.
Member of the parliamentary finance committee MP Ahmed Al-Saffar warned Wednesday that Iraq's economy would near the brink of the abyss unless reforms were carried out.
The committee held a meeting with Finance Minister Ali Allawi and the experts who helped prepare the report, Saffar said.
He said the committee would take its time to study the white paper and the feasibility of the measures proposed by the government.
He added that the document includes a thorough explanation of the country’s finances and the causes of its crises.
Although Saffar said that the paper stood out compared to studies carried out by previous governments, some have doubted its efficiency in introducing reform.
Professor of Economy at Al-Mustansiriya University Dr. Maytham Laibi stated to Asharq Al-Awsat newspaper that the paper is rich in details, and described it as “ambitious.”
It focuses on various issues that previous governments failed to tackle, yet it doesn’t provide clear answers on how to fight rampant corruption, he said.
Professor at Financial Economics of University of Baghdad Emad Abdullatif stated that most of the details in the paper can be found in the National Development Plan 2018-2022, which no one has read.
After months of waiting, the government issued a white paper despite having had a better plan several years ago, Abdullatif added.