The budget includes a road map for the implementation of the financial reform

6/19/2016 0:00

BAGHDAD Shokran Fatlawi

Increasing calls for work on the expansion towards the multiplicity of financial resources of the state and the force of the rentier economy formula inherent in the national economy, where the need to develop strategic plans do sectors fell feasibility of large projects in various provinces study.

Economic consultant Baghdad forum Samir Nasiri said in his interview with «morning» to the need to develop financial plans and draw a picture of revenues and expenditures, and the new budget deficit for the second half of the year 2016, with the issuance of extension data and indicators in the light of developments and changes that will take place on them, in order to reduce expenses ongoing, and expenses of investment, increasing the obtained revenue from outside the proposed oil revenues, calling at the same time the importance of restoring the economic viability of large projects that have been implemented in the provinces and special is that the implementation of more than 50 percent of them, especially those strategic projects or infrastructure and included in the study budget .

domestic borrowing measures and to cover the deficit in the budget proposed Alnasiri head to activate and develop domestic borrowing of the Iraqi banking sector measures, external borrowing according to what was stated in the government 's proposal in the budget of 2016 and in accordance with the agreements with the international Monetary Fund and understandings with banks and financial organizations , and international.

He said to take measures to implement the Cabinet decision to form the Deposit Insurance Corporation will withdraw liquidity chunky in homes, estimated up to 39 trillion dinars, as well as the composition of the import high for the preparation of the curriculum import of the state according to the priorities of availability of appropriations and delegated authority to study and validation and follow - up implementation.

Import supreme body said the possibility that the Commission shall prepare the import of the state curriculum and follow up implementation of all ministries, and to stop the import of semi - staple consumer and recreational materials to support the agricultural and industrial domestic production and have the logo in 2016 (import supplement domestic production and not a rival to him) that the import duty on basic and necessary materials and supplies limited electrical power of oil, gas and minerals and the requirements of the perpetuation of the war on terrorism and maintain security and industry to secure the national.

he said those reform measures complementary to the economic reform program agreed with the international Monetary Fund and winning the Council of Ministers, which will be launched starting next July and for a period of three years until the authentication 2019 to work to overcome the financial crisis and the return of state of the economy stable.

identify a road map and pointed consultant in Baghdad economic Forum that the budget did not include defining the road map for the implementation of the economic and financial reform, also did not specify economically viable investment projects that serve the economic development and economic reforms with the absence of the central follow - up to the implementation, review and evaluation.

He called Alnasiri obliging government and private banks to the implementation of the central bank 's initiative to allocate 6.5 trillion dinars to finance small enterprises and medium.

The role of the private sector and noted that the budget year 2016 was characterized by the absence of data transparency, and through the adoption price of $ 45 a barrel while the price does not exceed $ 30 a barrel accompanied by a poorly defined role of the private sector in non - oil resources development, as well as not to define the role of the productive sectors and to encourage the local private industrial sector as stated program of government.

He concluded Alnasiri his speech , urging the need to set priorities in the exchange and implementation in light of the urgent need for these projects in each province taking into account the giving of Basra priority for the province as the basic conservative oil - producing source for 2016 and need urgent implementation of strategic projects , pointing to the need to withdraw 80 percent of the allocations earmarked for the total amount of investment expenditure (30.4) trillion dinars from the provinces and the relevant authorities and allocate 20 percent of them to the provinces and other parties for the purposes of Surfing some dues Contractors Based on the decision of the Council of Ministers in 2016 to pay for the first meal of the dues by government bonds launched by the Central Bank of Iraq and the implementation of projects that can be implemented depending on the importance and priority.