Analytical reading the decision of the Council of Ministers of the structuring of the economy to yield productive

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Issued a Cabinet Minutes recent dated 31/05/2016 decision by firing FORM electronic own promoting and facilitating the government's actions funded SME and encourage the process productivity in agriculture, industry, housing and support and stimulate private sector investment allocated from the central bank's six trillion five hundred billion dinars amount in order to achieve the plan government

to restructure the Iraqi economy and its transition from a rentier economy to a productive economy and give a key role in achieving this. A reading of analytic and assessment of the decision and the implications to begin developing a strategy for implementation,

in order to be really give the role of the private sector in accordance with not stated in the private sector development strategy for the years (2014-2030) and stages set for this purpose, which ends the first phase in 2017 to require the government to Pthdidalagliat and procedure required do its part in terms of the allocation of the necessary funds to implement its program of economic reform and private sector-organize itself and to actually reach the true representatives of the private sector for the purpose of achieving the strategic reform suggest Mayati: -

1-allocation of funds from the IMF loan is distributed according to the grant provided by the Bank to the government every time WIG three years

2-distributes the allocation of financing industrial and agricultural sectors, housing, according to the mechanics of Awaltalimat approved by the Council of Ministers in partnership with private sector representatives

3-subdue the distribution and exchange and finance operations for monitoring and Allmtabah and audit and evaluation based on audit international companies

4-creation of an independent private sector holds the implementation of the government's plans to support and stimulate the private sector in coordination with the private sector representatives who are considered representatives rightful private sector suggested here that The Council of unified private sector represents all unions and organizations, forums and gatherings sectoral and public holds these parties elected under the supervision of power legislative, executive and judicial j

5-the government through the ministry of agriculture, water resources inventory Dalaradi arable in all provinces, including Kurdistan provinces and commissioning local governments secured the demands and requirements cultivate these lands and invest directly through an invitation and operation of all graduates of colleges and institutes and agricultural contracting with them or with the private sector to cultivate and investment and marketing of agricultural production and the division of revenue generated among workers and local government and thus achieve two goals target economic transition to a productive economy and social goal is to turn young graduates and turn them into productive

6-activation of the General Federation of cooperation by stimulating and encouraging cooperatives, housing and the Municipality of Baghdad and local governments in the provinces to allocate land for housing, sorting and preparing designs for the construction of cities and complexes housing in coordination with the investment and the private sector to be the key to the delivery of the citizen and the subject of distribution operations for Oatia income and slum inhabitants and take advantage circles from the World Bank loan fund in this sector to be subject to exchange audits, monitoring and auditing

7-create a bank to finance small and medium enterprises

The foundation, which must be adopted for the establishment of the bank is the state's contribution to 25 percent of capital, which should be up to 500 billion dinars and that the private sector contributes 75 percent and Representative Government ministries and banks, which currently holds fund some SME like the Ministry of Labour and Social Affairs to be the State's participation Marital for example,

either the contribution of the private sector should be private banks and companies retaining the banking business and private companies concerned sectors productivity and businessmen rightful and Y include reputable economic known and that the bank accounts are subject to audit the Office of Financial supervision and the supervision and control of the Iraqi Central Bank and the Council of Ministers shall grant the bank a sum Mahhadda as a loan to the bank of the IMF loan like allocated from the central bank Alahalkarz to finance small and medium enterprises and the new bank shall develop guidelines and instructions and facilities to grant the loan to entrepreneurs

This can be illustrated basic goals achieved by the roadmap above is as follows: -

1-one achieve the development goals of the IMF loan to support and stimulate the private sector

2. The contribution of the private sector to diversify revenues and reduce the budget deficit and increase operational productivity in economic sectors

3-achieving social objectives by reducing the rate of unemployment Khregeyn, professionals and artisans, which amounted to 31 percent
Samir Alnasiri
Economic expert consultant in Baghdad Economic Forum

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