Portfolio need to develop financial resources

17/2/2016 12:00 am

Baghdad-Hussein thghb Al-Tamimi
World powers are seeking to expand their economic resources and development of financial revenues to diversify income sources and not rely on a single financial source and passive dependence on sole source price volatility, so vibrate mode the Iraqi economy with oil price fluctuations, which constitute about 92 percent's earnings from the country's resources.

World stock actor in Iraq Osama Mahmoud stressed the need for a multiplicity of financial resources, pointing to the importance of benefiting from international experience in this regard and that hired oil revenues stimulate other economic sectors to diversify the economic basket and not relying on oil imports only in financing the economy.

The need for planning

He stressed the importance of using part of its oil revenues in the development of the agricultural and industrial sectors, tourism, pointing to the experience of the United Arab Emirates, ye where oil imports exploited systematically and thoughtfully in infrastructure development for all sectors, adding that proper planning and thoughtful plans on developmentEconomic development.

Mahmoud between the need to develop economies on the composition of the portfolio are an additional source of income through building a portfolio in world stock markets involving major global financial institutions and global central banks and investment institutions.

Financial value

He said that the investment portfolio contains several sources of investment value of diversified global financial can States get investments in several areas, the most important investments in government bonds of other countries, such as buying Government bonds offered by States to invest in order to get the cash and an example note that the USA put down government bonds at auction, and China is one of the most titles for us government bonds, with 60 percent of government bonds.

Products prices

And sources said Mahmoud portfolio: do investments in global oil stocks such as us crude and Brent and Texas and other ore, here we note that most of the oil producing countries to invest in oil stocks to maintain the balance of oil prices and avoid any delay in the supply of oil sold to outsiders, as well as investments in food Chairperson kalrs, wheat, sugar, coffee and others.

He noted that investment in this area provides stable States invested in providing food for their countries without fluctuation in prices where the price of the main source and purchase is for subsequent periods of the year, note that food companies and restaurants are investing in this area to ensure the stability of prices of products offered to their customers, e.g. the Mac donalds Group buys flour and sugar you use in the chain of restaurants from world stock pads to ensure price stability
Their products.

Economic classification

Mahmud said: they do investments in shares of emerging countries and the meaning of emerging countries are walking in a steady growth as a result of the evolution of economic classification by the World Bank and the International Monetary Fund and is expected to be developed in the near term these countries China, Brazil and Turkey.

Development sectors

The development of the Iraqi economy was going through an economic crisis, if there is advance planning to tap a portion of the oil in the development of other economic sectors, including the establishment of a financial world stock portfolio rather than relying totally on oil imports, and to develop other sectors played a major role in reducing foreign currency outflows from the country to import basic necessities which supplied balk hope of outside the country the fact that Iraq is consuming countries by 98 percent, and for the development of sectors the President played a major role in Reduce unemployment and reduce flaccid career in the public sector and taking advantage of the skilled labour which is currently suffering from underemployment.