The problem of the Iraqi economy is the economic mismanagement of the state relying on the oil sector financial resources and the adoption of privatization in solving most of the economic problems of the Iraqi economy suffers country.Security also a serious problem is the mismanagement of the oil sector, leading to major problems such as smuggling and weakness in the necessary growth in their sector. Iraq continues to spend about 5 million dinars to import 60% of the needs of petroleum products per year, due to outdated Iraqi refineries are operating at half capacity design. And floating in a sea of oil, and has the third largest reserves in the world, after it announced the Iraqi Oil Ministry in October to increase oil reserves by 25 percent to 143.1 million barrels. Gulf War Iraq losses cost about $ 100 million and left the country after the heavily indebted, and the increase of the second Gulf War in Iraq problems of economic development followed by the economic blockade imposed on Iraq since August 6 , 1990-April 21, 2003
My solution to this problem is to privatize the oil company. I will star buying all of the oil company in Iraq . If there is no benefit of war then there is no reason to be a war. I think if people star privatize the oil company it will avoid a lot of war and save a lot of live. If we start doing that we should avoid lot of problems. Iraq needs your help !!
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