BRI NEWS UN envoy urges Iraqi gov't to accelerate economic structural reform

BRI NEWS

UN envoy urges Iraqi gov't to accelerate economic structural reform

Xinhua

14:13, August 29, 2019

VCG211101842372.jpg

Photo: VCG

UNITED NATIONS, Aug. 28 (Xinhua) -- The United Nations top envoy to Iraq Jeanine Hennis-Plasschaert on Wednesday called on the Iraqi government to "accelerate its structural reform, fostering macro-economic and financial stability as well as promoting sustainable, inclusive growth."

Hennis-Plasschaert, special representative of the UN secretary-general for Iraq, told the Security Council that the Iraqi government "is increasingly recognizing the urgency of reform, notably in broadening the revenue base beyond hydrocarbons, and increasing the role of the private sector in areas ranging from infrastructure development to job creation."

Discussions at the senior-most levels focus on enhancing governance, better managing oil revenue, protecting the investment environment from corruption and reforming the banking sector to pave the way for more foreign direct investment and public-private partnerships, she added.

This is becoming more urgent, especially as a higher budget deficit looms with rising expenditures and oil price volatility, said the envoy.

The Iraqi economy relies heavily on crude oil exports, which accounts for more than 90 percent of the country's revenues.  

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue