Thursday, October 6, 2011

Iraqi's Dissatisfaction with Economy Hits Record High

By: Ali Rawaf

A survey conducted by Gallup Polls shows Iraqis have grown more dissatisfied with the economic conditions of the country.  Between January 2010 and early 2011, the number of Iraqis who think the economy is getting worse has significantly risen to 37 percent, up from 20 percent last year.

Survey results show more than half of Iraqis are dissatisfied with their standard of living. A third of the population struggles to pay for shelter. A UN report also shows that more than half of Iraqis live in slum conditions.

 Iraqis don't see an end in sight. Even though the country's revenue have increased, especially after the rise in oil prices and the increase in the Iraq's oil output, the government has failed to implement policies to incentivise the economy. The private sector remains weak and public sector jobs are mostly given to individuals with connections or party affiliations. 65 percent believe it is a bad time to get a job in cities where they live. 

The Iraqi political elite has failed to enact legislation to provide any form of stability to the economy. The country lacks law to protect the rights of private business and lacks any incentives for foreign entities to come in for investments. Building the infrastructure can provide people with many jobs. Reviving agriculture can provide jobs. Foreign companies can be invited to invest in the country and hire Iraqi people. These are few possible solutions. The political body can do much more to help the economy, if they put their differences aside and work on common interests of the Iraqi people.

Sources: Gallup

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