Hafiz: calls for the advancement of the productive sectors

1/24/2016 0:00

BAGHDAD - Hussein al-Tamimi Tgb - Shokran Fatlawi
Institute seminar discussed the progress of the development policies and the reality of the financial distress that resulted from the decline in oil prices and their impact on the Iraqi economy and ways to minimize the effects on Iraq by revising career distribution of the budget.

President of the institute d. Mehdi al-Hafez said during the seminar titled «monetary and financial implications of lower oil prices in Iraq»: The financial problem in the country list because of reliance on the financial resource and one (oil), pointing out the need to adopt reform policies Economic Systems-led the advancement of the agricultural and industrial sectors , noting that agricultural output was involved in gross domestic product fell by 33 percent to below the 6 percent, while the contribution of the industrial sector amounted to 11 percent.

Turning serious

He pointed to the importance of the work on activating the domestic production and not rely on imports, which has become a real problem because he needs the money to cover the large volume of what is imported from various goods, stressing the need to seriously think about switching to the State Development and services.

He pointed out that the number of employees and contractors of the Iraqi state up to 5 million and this shows that nearly 20 million people are dependent on the operating budget allocations, indicating the importance that the private sector an active role in the development of sectors and move the labor market and that there is a balance in providing job opportunities to the private sector.

Advanced technology

As for Dr. Ahmed Abrihi financial expert has addressed the role of the agricultural sector in different countries large and its contribution to economic development and what it represents Kaltejrebh US agricultural product of importance to the economy and the industrial product, which contributes greatly to support the economy there.

Abrihi between that developed countries still depend advanced technology that reduce dependence on oil and this has led to the decline of prices to significant levels, and pointed to the importance of orientation to invest in natural gas, associated gas field, which demand rises in the world market, noting that Iraq from countries that can to invest its natural gas and make a new financial resource contributes to the overall economic development of all Sectors.

Funding sources

While Behnam between Peter and the Undersecretary of the Ministry of Planning and Development Cooperation, the former importance of finding new funding sources and work with intent to new markets in imports not impose high prices on goods, pointing out that with the process of import-based organization that need the actual local market.

He pointed out that the federal budget is variable according to the strategy of each two or three years, stressing the importance to raise investment allocations to contribute to expand the size of the financial resources of the country. Peter urged to reconsider career distribution of the budget, and take care of general government social Aalkhaddmat and currently with the work to create the conditions for private sector involvement, as well as an attempt to reconsider the distribution of income private wages and salaries, and review the volumes of import and attempt codified, as well as the preparation of the budget, in accordance with specific and well thought out policy , between taxes and grants and subsidies, and form an impartial commission to follow up the implementation of the budget and the monitoring and adjustment of deviations from the path.

The private sector has been an important focus in the intervention of Dr. Ali al-Adeeb, who said the financial crisis through which Iraq is clear and asked for ways to stimulate the private sector, pointing to the importance that the movement of economic centers Sensors risk experienced by Iraq to be taking the necessary measures for that matter.

National Development Plan

As he explained d. On the Keywords central bank governor said Altenbuat and strategies are available in all budgets as well as the National Development Plan prepared planning scientific true, noting that it is no budget to suffer the absence of the administration of the process of economic reform, making it the writings, not plans and realistic check production base, pointing to the need to have decision independent economic away from any side effects, to push in the right direction.