Economy News / Follow-up .....
Economic council and a national fund for savings and body for import and investment
He attributed the economic expert suffering of the economy since 2003 and up to the time Alhadharaly loss of planning, poor strategies, policies and the dispersion and confusion in the management of the affairs of the various sectors of the economy, which led to a decline in its contribution to the gross domestic product.
Economic and added Smiralnasiri in his speech «| morning» that focus on oil and the promise of President supplier of economic resources, where the form (about 56 to - 60 percent) of gross domestic product and 93 percent of the total budget revenues, making the country's economy problems worsen.
Fiscal and monetary policy
He noted that the mismanagement and lack of fiscal and monetary policy are clear and specific goals and strategies with external economic conditions, particularly the decline in oil prices, and the inability of previous governments to establish a sovereign fund like other countries, oil-producing region, befuddled economic process and increased complexity.
Establishment of Economic Council
He suggested Alnasiri review, evaluate and rebuild the structural and institutional system of the economy through the establishment of (Economic Council) to be linked to the Council of Ministers and with the broad participation of the public and private sector experts, professionals, specialists and technocrats in charge of strategic planning and operational policies and follow-up and monitor the implementation, issued by law committed by ministries and all institutions and sectors of the state and its decisions are binding force after approval by the Council.
He said the Economic Council will fall upon himself to re-examine the revenue and expenditures and the deficit in the 2016 budget year, after taking into consideration the developments in the world oil prices and changes in the global economy and the conditions of objectivity and subjectivity surrounding the country accompanied by the necessary amendments to the budget, logical and realistic application and make it.
Evaluation of the economic institutions
He noted the upcoming Economic Council will review and assess the economic activities of the organizations from the central bank and the economic ministries and departments belonging to them in light of new strategic and economic plans and selection of leading cadres of these institutions in accordance with the standard allocation of scientific and efficiency that.
National Provident Fund
Alnasiri also suggested the need to establish (a national fund for savings) is linked to the Ministry of Finance and be a net importer of non-oil imports and is not included in the budget and record all derived additional imports from improved oil prices or subsidies and international aid or UN aid or respond to the Fund from the austerity measures and reduce spending government in all its forms.
Import and Investment Authority
He promised the establishment of a supreme body for import and investment linked to the Council of Ministers and the problem of cadres and experts technocrats in import affairs and investment contracts of various terms of reference Palmhdja national industry and the owners of capital to carry out investment projects that the Commission shall prepare a curriculum import of the Ministries of State and the private sector in the light of the allocations earmarked actual and the need to achieve the purpose prepared for him by encouraging national industry and the owners of capital.
He concluded Alnasiri his speech by referring to the importance of stopping the import of all materials and consumer entertainment goods, especially in the current year and only asset, including in the markets within the country for the purpose of promoting and encouraging the national goods and control imports process similar to the goods and apply controls quality control according to the required specifications.