Iraq is planning to set up an investment fund for the future generations as part of reforms intended to diversify the economy, the OPEC member’s Prime Minister was quoted on Sunday as saying.
Mustafa Al-Kadhimi said he intends to push ahead with economic and fiscal reforms despite political obstacles and that he would also tackle “previous mistakes” that had blocked serious reforms in the Arab country.
“The government is now seriously studying the creation of an investment fund to guarantee the future of the coming generations,” he told the official daily Al-Sabah.
“Oil revenues constitute the main source of income for Iraq and this fund is designed to utilize such revenues and achieve a fair distribution of wealth for the future generations,” he added without mentioning the capital or functions of the planned fund.
Zawya
23/06/2020
