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Abadi attributes Iraq’s economic crisis to global oil prices, calls for major cabinet reshuffle

February 10, 2016 at 11:19 am

Iraq’s Prime Minister Haider al-Abadi has attributed the country’s economic crisis to the sharp decrease in oil prices in the global oil market, calling for a reshuffle of the cabinet to improve the country’s ailing economy.

Abadi explained that he has a “clear vision and detailed policy that would enable Iraq to pass the economic crisis”.

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The prime minister called on the political blocs to work together to overcome the financial crisis.

During a televised speech on Tuesday which focused largely on economic challenges facing the oil-rich country, Abadi acknowledged that the reshuffle would replace ministers chosen by political blocs and approved by parliament in accordance with the constitution, but urged politicians to cooperate.

“Out of my responsibility … to lead the country to safety, I call for a radical cabinet reshuffle to include professionals, technocrats and academics,” Abadi said.

The falling oil prices have prompted many oil-rich Gulf states to reshuffle their cabinets and reconsider their spending.

Iraq, whose income comes almost exclusively from oil sales, has struggled to pay its bills amid the fall in global oil prices.