The private sector suffers from tangled imbalances

9/19/2016 0:00

BAGHDAD / Suha Shaykhli
The private sector job in the major pillar of economic development as a force with the public sector contributes to the national economy recovered from the fact deteriorating and prevent exposure to a large jolt, especially after the decline in oil prices, which have caused financial hardship requires activating the role of the private sector.

Economic power

In this regard he drew an economic expert, Dr. Akram Abdel Aziz that the private sector is an important element in activating the economic cycle and increase production and diversify the sectoral structures of the economies in the world by virtue of being an important and effective and real economic power in the process of these economies.

And Abdul Aziz confirmed in an interview for »Sabah» that the private sector subjected to the constraints limited the progress, development, and stability because of the holistic planning and subordination of all aspects of the economy to the public sector since been directly linked to the state by virtue of the nature of the centralized economic system before 2003.

She said that the performance of the private sector affected by the passage of the means of production and limited sources of funding as well as damage to many of the plants and factories and production requirements of available time and exposure to the closure or destruction and loss and the inability of some of them to compete with foreign product after 2003 Majolh turn toward rapid profiting where characterize his performance fluctuate degradation and stagnation fueled instability Year.

Confirmed Abdul Aziz said the indicators concerning the reality of the private sector refers to the fact laggard needs to intensify its efforts to improve its role and expand its contribution to economic activity, pointing out that the poor performance of the private sector and Dmorh gradual contradicts government trends, which calls to make it a source of strength for the economy and the sector active and shovel it in economical development.

Set out the importance of expediting the solution of obstacles promotion of the private sector being the main pillars to address imbalances in an attempt to build and reform.

He said economic analyst Abbas Ghalibi that the economic landscape is still suffering imbalances, particularly its dependence on oil by more than 90 percent, and the absence of effective productive sectors in stimulating the economy.

Ghalibi and continued when the Constitution for market economies is assumed that there would be productive sectors accompanied walks Bmoisadtha activist and active private sector talking, noting that the erosion of oil prices, Iraq offered to a severe crisis, stressing that despite the openness and free trade, the economy remains constrained since 2003 yet.

Strategic plans

Ghalibi refers to the importance of activating the private sector strategic plans and support the government and the banking system is able to give the expanse of activities to the economic sphere to activate the role.

He pointed out the need to open the door for investment and the use of international expertise to form an opportunity for cooperation between the private sectors of foreign and Iraqi, pointing to the need for the return of migratory capital and work to attract them to realize investments in all economic sectors.