Daini warns Iraq from economic disaster

Baghdad (IraqiNews.com) Member of the Parliamentary Economy and Investment Committee, MP Nahida al-Daini warned from economic disaster that sweeps Iraq if it depends only on oil revenues in supplying its economy.

Daini stated to IraqiNews.com “We warn from Iraq’s dependence on the oil products’ revenues since this resource is not constant over time, therefore we must develop other economic resources.”

MP Daini of the Iraqiya Slate referred that “In case of out breaking a war or recession, Iraq will witness economic catastrophe because it depends directly on the oil sector.”

It is worth to mention that the US embassy in Baghdad has warned, on last Tuesday, Iraq from experiencing an economic crisis if it relies only on the oil revenues in supporting its economy.