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Majid Kazemi, a senior economist at the World Bank, spoke to Rudaw’s Bakhtyar Abdulaziz on Tuesday about the economic crisis exacerbated by the war in Ukraine, global inflation, and the impact on Iraq and the Kurdistan Region. The main repercussions discussed were on the threats of poverty and food insecurity.
Kazemi stated that the impact of the war in Ukraine on Iraq would have been much worse had it not been for the record high oil prices in the global market. He recommended that Iraq continues on its path towards diversifying its economy in order to reduce its dependency on imports. This would also create new employment opportunities for the local population.
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