Specialists (range): Distribution of cash from oil revenues, high inflation helps
On: Wednesday 07/03/2012 10:04
Baghdad / Ahmed Abed Rabbo
called on economists to the need to use the money derived from increases in oil prices in the establishment of a development bank with a capital of a very big help to solve the economic problems afflicting the country. They said in a talk (range): the direct distribution of surplus oil revenues in the form of cash to citizens
Raise the levels of inflation, noting that the injection mass of large cash to the market at the same time helps to increase prices of goods and services clearly.
said Suri (range): The call to allocate part of the oil revenue and distributed to the people is the implicit recognition of non-seriousness of Governments successive solution of problems faced by the country's economy, pointing out that this is not considered of fundamental solutions.
He added the picture: that the share of the Iraqi individual of this revenue does not exceed three hundred dollars a year and this does not help to do a particular project is in the service economy, pointing out that this call to the trend of consumption in the absence of the productive base of the country and rely entirely on increased demand and imports, which means high external factors on the high rates of inflation, what is difficult for the central bank to avoid this increase.
He Image: Rising oil prices will lead to rising prices of industrial materials and agriculture.
and called for the need to use these surplus funds in previous years in the establishment of the bank development with a capital of a very large can help in solving the problems of industrial, agricultural and services.
For his part, said oil expert Omar Hesham (range): the direct distribution of surplus oil in the form of revenue cash to citizens mechanism is difficult, noting that this will increase the purchasing power of citizens, raising the levels of inflation. said Hisham: that the injection of a block of large cash to the market at the same time helps to increase prices of goods and services clearly. said Hisham: should target class poor in the application of strategies to alleviate poverty in Iraq, calling for action to eradicate the housing crisis and electricity. and called for the need to establish a sovereign fund to monitor him the money deducted from the proceeds of oil and behavior in dealing with crises that may be taking place in the country, in addition to solve most economic problems suffered by Most of the citizens. Earlier announced Rep. reproach league for the distribution of funds from oil revenues to the Iraqi people will start work in this matter early next June.
said league, according to the agency (Nina): You must activate the law granting cash to the people allocated from the proceeds of oil, especially that Iraq's oil country and this represents the most basic of their rights, especially as the poorest country from neighboring countries have people with all the elements of prosperity and good life. "
added league: that the citizen lacks the most basic elements of well-off, calling on those concerned to awake from entering the financial and administrative corruption in the distribution of those amounts to ensure justice in which private and he will serve a large segment of the poor and destitute people who are in dire need for it although I have said.
and called on stakeholders to expedite the resolution of this issue and monitor the amounts necessary for the purpose of accelerating disbursement to the sons of the oppressed people, it says.
The House of Representatives passed in meeting to vote on the state budget law allocated amounts of cash distributed to the people in general.
The Liberal bloc made earlier this request to the Presidency of the Council of Representatives.
In the meantime, between the Parliamentary horse Hasnawi the existence of talks with political forces, and the collection of votes for approval as soon as possible. noting that the joint committees of the House of Representatives and the government will be formed to study the project in order to be identical to the paragraphs of the Constitution and applicable according to the instructions and controls.
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