Qubad Talabani: oil has become a curse on Iraqis

Shafaq News / On Wednesday, the Kurdish Deputy Prime Minister, Qubad Talabani, stated that oil has become a "curse" on the Iraqi people, emphasizing that the country's economy is unstable and unbalanced due to its heavy reliance on oil.

During his speech at the evening session of the Eighth Sulaimani Forum, Talabani remarked, "We know that oil will eventually deplete and end."

He added, "We must rely on future economic infrastructure, and we need experienced individuals to focus on economic infrastructure," noting that "not changing our management orientations in Iraq and the Kurdistan Region will make us lag behind and not have a stable economy."

Talabani stressed the "importance of focusing on the private and banking sectors in the future to lead the Kurdistan Region and Iraq on the right path and liberate them from dependence on oil imports," explaining that "this process requires statesmen, but they are currently scarce."

He pointed out that "the Kurdistan Region and Iraq as a whole need an economic philosophy based on diversifying sources of income and revenues, not just relying on oil, as we have not been able to strike a balance between administration and the economic sector."

Regarding the participation and efforts of youth in advancing the country's progress, Talabani clarified, "We are optimistic about the capabilities and innovations of youth, and we should open new horizons for them to be part of the country's developments."

He added, "We should move in parallel with technological changes and advancements and benefit from their positive aspects. If we find other negative aspects resulting from the misuse of technology in dismantling families and communities, the government, security forces, and relevant authorities should confront them and curb their misuse."