Can new PM make Iraq's grand plans a reality?
Iraq's new prime minister is making the economy a priority, but some question whether he will be able to tackle longstanding roadblocks that threaten his plan's success.
BAGHDAD — New Iraqi Prime Minister Adel Abdul Mahdi recently submitted an ambitious development and financial plan to parliament, but his proposals will face major challenges — namely a lack of revenues, spreading financial and administrative corruption, a weak administrative system and a struggling private sector.
Abdul Mahdi, who was sworn in Oct. 24, has held important economic positions in the past. He was Iraq's finance minister in 2004 and oil minister in 2014. In articles he published in his Al-Adala newspaper, he portrays himself as an economist capable of addressing the country's crises.
His ministerial platform focuses on 15 points to stimulate the investment environment, aid the market economy, develop the oil industry and find international sources of funding to support more than 100 national development projects.
Mahdi also hopes to achieve sustainable development in the tourism sector and reach self-sufficiency in the agriculture and livestock sectors. His plan calls for strengthening partnerships between the public and private sectors while also securing partnerships with international companies.
