International Reports Predict a Massive Decline for Our Local Economy

Popular circles regretfully circulated the news coming from the International Monetary Fund report, which carried shocking forecasts of a decline and contraction of our Iraqi economy by nearly 7% this year. For the simple Iraqi citizen, this percentage does not mean mere numbers on paper; it translates into a recession in the markets, a scarcity of job opportunities for graduating youth, and a weakness in construction and rebuilding activities. The Iraqi street is tired of paying the price for regional tensions and wars that ravage the area and destroy people's livelihoods. The contraction of the economy means that the vegetable vendor, the taxi driver, and the small shop owner will suffer from weak daily income. Iraqis hope that the government will play its role as a protective shield to safeguard them from these harsh economic storms, by supporting small projects and providing a genuine social protection network that supports destitute families in these trying times.