Iraqi Economy is Gaining Momentum

Iraqi Dinar 123 News:– The Iraqi economy is facing more difficult situation in the current situation and suffering by the increasing poor financial status and unwanted critical issues and a series of senseless wars history. It made a massive change in its political sector that created instability and stopped the development in the country. One of the major issues in Iraq is considered the mismanagement in its financial institutions in the previous governments and misuse of the oil sale revenues. The Iraqi economy faced severe crisis after a massive decline in the global oil prices and the government is struggling hard to resolve the economic problems to overcome the losses.

It is also said that increase in investment needs perfect rules and regulations for adopting best mechanisms. It would be more reasonable in moving investment trend to attract more foreign investors in Iraq. a large number of foreign investors from Japan, America, South Korea, Egypt , Jordan and some from European and Arab countries needs to invest in different sectors in Iraq. It is important that there are more than 200 international consulting firms that are specific to encourage the global investment and providing the preparation methods of usefulness and to find sources and fulfillment of the projects. Iraq is currently serving the Investment Law No. 13 of 2006, but new modification has been added in Iraqi investment law and hopefully it would be implemented after final approval by the House of Representatives.

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