International loans gateway to the diversity of resources
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    International loans gateway to the diversity of resources

    International loans gateway to the diversity of resources

    Views 62 Date 06/05/2016 - 18:18

    Economy News / Agencies ...

    Traditionally, in recent years to promote systematic borrowing to cover the deficit in the budget planning and even became the subject of time sometimes.

    Industrial Development Consultant Amer Jeweler, on the sidelines of an economic seminar dealt with the reality of IMF loans during which it became clear: that Iraq owes large amounts of loans, while still continuing its policy to continue to borrow.

    He pointed out that borrowing as well as any projects Order futures will carry Iraq's responsibility for repayment near and distant from the budgets of the next few years in the future in addition to the benefits whatever the amount, and the time at which the focus is the operational budgets and the fight against terrorism and will be followed by the reconstruction of the affected provinces and the exclusion of investment activities in and that means continued loss of jobs development and improvement of the capabilities of the economy.

    He noted that the high amount of lending from international organizations lead to the mortgaging a growing part of the future our revenues to pay off the debt at the expense of the continuation of this case with the failure to take practical steps to improve and diversify the economy, even if begun, it will take time, will have to wait to reap the fruit while being only rely on oil imports.

    Jeweler between was given for the failure to take effective action to stimulate the economy and domestic production opposite happens constantly deteriorating various economic sectors and thus increasing dependence on imports to cover all the requirements on the local production opportunities expense, and increases the tone of asylum and dependence on oil prices as a key factor in determining the budget indicators, while even when the the prices are high to utilize them did not materialize in the beginning measures actual development and implementation of the strategies recommended by the specialized committees and international organizations have spent the years of preparation.

    He stressed the importance of raising efficiencies based on the management of public funds, warning of the mismanagement private prior periods at higher revenues resulting from the increase in oil prices and the results of those budgets on Iraq, the best evidence, led to having to resort to loans that will feed a number of activities in the budget, such as education and health and social welfare and displaced persons, and the question is not the result of those funds will go just like with other methods to exchange traded what will be different?

    And the need to be directed lending to the productive sectors and the intervention of the giant approved projects Balstrutejiat manner partnership, for example, which will bring accumulations gradually in the development and diversification of the economy and improvement of the gross domestic product, pointing out that the duties of those responsible for the economic file to work in parallel and within a series of reforms the decision and will,

    through the formation of «National economic Council» High-level owner's decision and the will of the professional ability and with the help of organizations of civil society and the private sector to start real action is serious and sober include much less on the immediate implementation of the strategies approved in order to avoid the continued loss of time, money and effort and the loss of opportunities for advancement, to take measures serious and practical discreet efforts to improve Iraq's revenues within various extents and diversify the economy and to be able to not to resort to borrowing in the future and to provide additional future revenues contribute to improved revenue in addition to debt repayment

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    Last edited by MadDScout; 06-05-2016 at 04:21 PM.

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