Article VIII is absolutely necessary to invite investors and capital to Iraq. They will not get much help rebuilding the private sector if they do not do this. Investors want to be able to get their profits out of Iraq and Article VIII is an important step to achieve this.
Parliament is in the process of preparing the 2020 budget. Described in the media as “the budget will be different directions next year to represent the government’s economic openness to investment and increase financial resources alternative to oil” and “indicating that the budget will create a qualitative boom in the Iraqi economy through drastic changes in public expenditure and investment funds and services.” Clearly, this is important to the transition to a market economy…As well as they are building the expenditure into the budget for 2020.
