Finance Ministry of Iraq Pays Special Attention to Trade And Agriculture

Iraqi NewsIraqi Dinar 123 News:– Finance committee of Iraq decided to pay special attention to the trade and agriculture by proving wheat and pesticides for agriculture purpose. Iraq wants to be self-sufficient in wheat and barley in the near future. Therefore it is paying special attention towards both of these crops. Iraq has to import a huge quantity of wheat per year to fulfill the demand of its public and it is aim to reduce this quantity in the future.

Moreover, Iraq knows that dependency on oil industry is not favorable for economic development of Iraq. Oil industry alone cannot produce jobs for whole country and dependency on oil will be a major cause of unemployment in Iraq if it does not improve its non oil sector. We saw $22 billion investment in the non oil industry especially in small scale industry of Iraq. Telecommunication is another non oil industry that grew with better pace in the country. Unfortunately the recent clashes between Iraq security forces and ISIS affected economy of Iraq badly in the last 6 months. Iraq will have to control the situation as soon as possible as it is essential for economic development in the country.

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