Iraq – Delay in government formation casts a shadow over the economy in Iraq

Location: Baghdad – Iraq

Language: Arabic

Duration: 00:03:44

Sound: Normal

Source: A24 subscribers

Restrictions: A24 clients

Dateline: 21/04/2022

Storyline

Iraq’s political stalemate has caused a delay in the approval of the yearly budget for the year 2022. The country is suffering economically and the delay will adversely affect citizens. Economists believe that the delay in electing a new president and forming a new cabinet will create several economic crises that will affect 2022 budget and cause delayed salaries and economic stagnation same as in 2020.

Shotlist

• Soundbite (Abdulhassan Al-Ziyadi – Economist):

“Iraq is suffering from a major economic crisis caused by the delay in government formation. The delay has resulted in severe economic losses for Iraq in addition to the delays in infrastructure and other projects and economic recovery. The state should be responsible and deal with these issues. Officials should be mindful of their role in expediting the formation of a new government to work on the country’s economic development.”

• Soundbite (Ragheb Rida Bulaybel – Chairman of the Iraqi Businessmen Union and Economist):

“All affected economic functions have led to a state of economic stagnation, which is a result of the government neglecting its responsibilities. The yearly budget has not been approved by the government but it must be approved by parliament because the public rely on the state yearly budget.”

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