The University of Basrah Organizes a Seminar on the Strait of Hormuz and its Impact on the Iraqi Economy

The University of Basrah Organizes a Seminar on the Strait of Hormuz and its Impact on the Iraqi Economy

The College of Administration and Economics, Department of Business Administration, in cooperation with the Center for Development and Continuing Education at the University of Basrah, organized a seminar entitled: "The Closure of the Strait of Hormuz and its Impact on the Iraqi Economy."

The seminar aimed to introduce students at all academic levels to the Strait of Hormuz and its economic importance.

The seminar, presented by lecturer Yasmin Najm Abdullah, highlighted the economic significance of the Strait of Hormuz and the significant repercussions of its closure, especially given Iraq's near-total reliance on it for oil exports. This would present Iraq with unprecedented economic challenges, threatening the stability of its revenues and its ability to meet its financial obligations.

The seminar recommended the necessity of finding swift and alternative solutions to this economic crisis, moving away from sole dependence on the oil sector, diversifying funding sources, developing short- and long-term strategic plans for oil exports, and finding sustainable future solutions to economic crises.