Economist: Increasing spending, raising wages and developing industry are the most important solutions to the problem of unemployment

2019-07-25 06:51

BAGHDAD (Reuters) - Increasing spending, raising wages and developing industry are the most important solutions to unemployment, Iraqi National Business Council member Ghadir al-Attar said on Thursday.

Al-Attar said in a statement received by Alsumaria News that "solving the problem of unemployment is done in several ways, including the Iraqi government to raise monthly wages to encourage employees to do good work so that they have material satisfaction and be away from the occupation of the unemployed second job."

"The government is also obliged to create new job opportunities every year and new workplaces to encourage unemployed people to look for new jobs," he said.

Al-Attar added that "the development of industry and the construction of new factories the best direct ways that provide opportunities for the unemployed and treatment of unemployment, as well as facilitate the process of introducing foreign investment companies to the market and obligate them to run 50 percent of its cadres for unemployed Iraqis in the strategic project."

Al-Attar pointed to the need to "increase the capital of government banks, to be ready to provide loans and facilitate access to the unemployed simplified procedures and spend on goods and services by individuals to establish projects in accordance with economic feasibility."

The Central Bureau of Statistics announced on 23 August 2018 that the unemployment rate among young people in Iraq was 22.6%.

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