Monitoring Important Economic Achievements Of Al-Kadhemi Government Opens A New Gateway Of Hope For Iraqis

Monitoring Important Economic Achievements Of Al-Kadhemi Government Opens A New Gateway Of Hope For Iraqis

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The Al-Kadhemi government is striving to address the economic challenges, manage the legacy and multidimensional crises that the government has received at all levels, which represents the main challenge facing Iraq in this period, as it is considered a standard in managing these crises.

Everyone remembers the biggest crisis, which is the salary crisis; In the fourth quarter of 2020, expectations indicated that the Iraqi economy was heading towards an inevitable economic collapse, with the continued decline in revenues that reached the point of stalling the payment of salaries on time, which raised concerns among the Iraqi citizen.

However, the measures that the government adopted during the months of May and June were able to overcome the biggest crisis threatening the security and stability of the Iraqi citizen.

The Al-Kadhemi government began preparing the white reform paper, as well as drafting the 2021 budget and including it in the economic visions in the white paper. One of the first reform measures was to reduce the exchange rate of the Iraqi dinar against the dollar to stimulate local production, address the huge deficit in the budget, and put an end to the illegal profit from currency auction sales, which some if not most of its revenues reach the pockets of the corrupt.

The challenges facing Al- Kadhemi government are immense, including the sharp drop in oil prices and the resulting severe economic hardship, the COVID-19 epidemic, the disintegration of Iraqi state institutions due to widespread corruption, militias with cross-border loyalties, poor planning for economic development, a poor environment for Businesses and budget problems.

This is clearly reflected in a sharp deterioration in public services, widespread unemployment, and an increase in the number of Iraqis who remain below the poverty line. In spite of the enormous problems that Iraq faces, Al-Kadhemi government created opportunities and invested them to face these challenges with minimal losses. It is an important reason to have gained national, regional and international attention alike. The success of Al-Kadhemi’s government – a consensus rarely available to any of his predecessors. Moreover, The Iraqi public, although still waiting for the most, showed signs of positive confidence in the initial decisions of Al-Kadhemi through the economic and strategic studies of the Rawabet Center for Economic and Strategic Studies. In terms of monitoring and analysis of the economic situation of Iraq, and since Al-Kazemi assumed the presidency of the government, the Rawabet Center for Research and Strategic Studies has monitored tangible and tremendous achievements in a record period and amid conditions that are almost harsh and ineligible for achievement or to improve a semi-destructive situation so that we are fair in the description and in a record period of time compared to the governments that preceded the Al-Kazemi government It provided a stimulus package to restart the economy.

The Al-Kadhemi government has published the White Paper, which is the real reform step for a fragile and destroyed economy and a comprehensive program with a clear roadmap to reform the Iraqi economy and address the challenges, as it aims to “restore balance to the Iraqi economy by taking appropriate future steps to develop it in a dynamic, diversified way that creates opportunities for citizens to live a decent life by proposing a set of comprehensive political reforms, and this requires courage, political firmness and acceptance by the Iraqi people

Redefining the role of the state in the economy and society, in implementation of the principles of the constitution.

Introducing radical improvements to the state’s management of the public financial system.

Creating the appropriate environment to create a competitive dynamic dynamic economy.

Restructuring the financial and banking system.

Addressing the factors that led to low labor productivity in Iraq.

Protecting the poor economy during and after implementing reforms.

Significant achievements in the economic side and in order to develop the performance of the Iraqi financial sector and improve technology in the banking sector, Rafidain Bank has contributed to reconstruction and investment projects with strategic plans to improve infrastructure, health, education and tourism.
The Ministry of Finance contributed by providing quick loans to small and medium-sized companies and facilitating the financing of investment projects aimed at confronting and easing the housing crisis that the Iraqi citizen suffers from.

Providing loans worth 100 million dinars from Al-Rafidain Bank and these loans to employees looking for housing and 50 million dinars as loans to others to buy housing and buy renewable solar energy systems, car loans and operating loans for hotels and scientific research, doctors, pharmacists and private sector employees starting from 5 to 25 million dinars, depending on the project.

The electrical network was repaired, and transport bottlenecks were dealt within 12 villages, and the main roads were cladded in five regions in various governorates.

The establishment of a pedestrian bridge over the Suwayr River in Finjan Al Zahir. Rehabilitation, development and expansion of Al-Okasha water complex in Najmi. Restoration of the water purification plant in Aziz Balad.

Construction of roads in the villages of Ke, Laka, Mahidi, Al-Uweinat and Al-Juwaizat, building schools in Al-Khanouka, Al-Bu Tuma, Albu Delaf, and Bipava, extending the conveyor line from the new Rumaitha project to the Abu Srifa area, and equipping and extending the electricity network in Al Dhuaiher area in Hilal. Conveyor water pipe, diameter 225 mm, in the Warka area and supply voltage regulator.

Extending a water network in As Suwayr, installing a 100-cubic-foot water desalination scheme in Al-Tawoura, extending a conveyor pipe to greenery (5.3 km), and constructing a water transmission network in Al-Khanouka.

As for the banking sector dependent on the economic and development movement, Al-Kadhemi government reacted positively to the move as it stimulates the economy and thus encourages legitimate banking transactions.

As the Iraqi Central Bank’s reserves of foreign currency “the American dollar” rose to more than two billion dollars, and this within less than two months of this year and before the arrival of imports of the rise in oil prices.

On December 31, the actual cash reserve of the Central Bank did not exceed 51 billion dollars while on February 17 it reached approximately 54 billion and a quarter billion dollars. All these figures indicate that the real achievement of the reform is despite voices opposing this achievement, which made the figures the official spokesperson for it, not to mention the investment projects ready for implementation such as the 6.2 km long Al-Qurayat suspension bridge, which will link the two sides of Baghdad, Al-Karkh and Al-Rusafa.

Karbala Road 5.66 Al Hawali with a length of 1 km, Baghdad Hawalli Road with a length of 94 km, a 235 km highway linking the governorates of Wasit, Babil, Karbala and Baghdad, a 160 km road linking Karbala with the Arar border crossing, Baghdad – Basmayah road with a length of 20 km. The government’s taking of these very important and tangible measures in the short and long term would achieve for the Iraqi citizen access to education, health care and other services, albeit gradually, and would have lasting effects on the family’s ability to escape from poverty or not fall into it, starting with the measures. Reformism that is bearing fruit in a record period, and it is expected that the coming months will witness more widespread tangible results in all sectors, and the government must be entrusted with its unprecedented continuation in fighting corruption by Mustafa Al-Kazemi, and work together to promote reforms so that Iraq can take on its role, place and sovereignty internally and externally. one more time.

Economic Studies Unit
Rawabet Center for Research and Strategic Studies