MP shows concerns over depending on Oil incomes only

Baghdad (IraqiNews.com) MP, Noura Salim, the member of the Parliamentary Economic and Investment Committee showed concerns over depending on Oil as the only economic source in Iraq.

She stated to Iraqi News (IraqiNews.com) “The dependence on Oil increases fears because the country will face big troubles if the Oil price becomes low,” calling to “Make good use of the other economic sources and decrease the dependence on Oil incomes.”

“Iraq does not have a strategic plan for the economic development,” she added, assuring that “The taxes must be activated and used as a big economic source as followed in the other countries.”

It is worth mentioning that 95% of Iraqi income depends on Oil revenues inspit of having many other economic sources.