Internal And External Political Tensions Will Negatively Affect The Country’s Economy

BAGHDAD The Economic expert, Salam Samisem warned that the internal and external political tensions affect negatively on the investment sector and the companies operating in Iraq.

Samisem told NINA “Domestic political tensions such as the bombing of the US embassy in Baghdad, the fires that have engulfed malls and the burning of agricultural land, and the political tensions in the region, Iran and America, and the fear of a military war, all affect the work of foreign companies, especially in the oil sector, which will negatively affect the economy of the country.”

“The political climate has affected the safety environment for oil companies, pushing the withdrawal of ExxonMobil employees and other companies,” she said, added “The deteriorating or troubled investment climate will affect attracting investors into Iraq because it gives a signal that Iraq’s climate is insecure.”

ExxonMobil has suspended all its foreign employees from the West Qurna 1 oil field and transported them to Dubai.

The production of West Qurna / 1 field reaches 440-490 thousand barrels per day of crude oil and 150-200 million cubic feet of natural gas.

While a lot of wheat and barley farms have been burned in the recent period, which led to the death of a number of farmers with significant losses.

Source: National Iraqi News Agency