Al-Kazemi’s advisor talks about the Iraqi economy: It will coexist strongly with the cycle of oil assets
Baghdad – Mazhar Muhammad Salih, the financial advisor to the Prime Minister, stressed, on Tuesday, the need to legislate the partnership law between the state and the private sector, expecting a recovery in the Iraqi economy in the coming years.
Saleh said in a statement to the official agency, followed by “Nas” (October 12, 2021), that “the Iraqi economy will coexist strongly with the cycle of oil assets, as the global demand for fuel will increase with the high rates of growth in the global economy, and the epidemic represented by the Corona pandemic will enter the cycle of inactivity and inversely.” to growing energy markets.
He added that “based on the foregoing, Iraq will produce more than 6 million barrels of crude oil, boosted by undoubtedly high returns,” explaining that “such a major change in Iraq’s financial flows undoubtedly requires a broad and effective development programme.”
He pointed out that “this development program is implemented in two tracks, the first is to reshape Iraq’s infrastructure in its trans-provincial strategic forms, especially ports, railway networks, land transport and the digital economy, and the other is summarized in the priority of developing service infrastructure for regions, cities and towns through the availability of government investment in the basic service quartet that Represented by: drinking water, sewage, electricity and paving roads.
He pointed out that “one of the direct tasks of the state is to monitor the appropriate allocations in the investment budget, which should be described in detail in a solid five-year plan for the reconstruction of the physical infrastructure.”
He continued: “As for the second development track, it turns to the state’s role in developing market institutions, both production and service, which requires the development of the legal and regulatory infrastructure that promotes market institutions by spreading partnership between the state and the private sector and entering into the social market system, which requires the establishment of a facilitating system for the registration of companies, and is linked to This issue is motivated by two things, the first is to provide soft development financing through a government or government-supported national development fund, and loans are granted to emerging and successful companies, even if they are small, provided that successful companies obtain tax exemptions whenever the added value of the activity increases and the operating rates increase.”
He pointed out that “the second matter is the reorganization of the labor market towards the inventory of the labor force and the description of its skills and the geography of its work, by creating a national number and an advanced digital system to identify workers in the private sector, to be prepared in cooperation between the ministries of Planning, Labor and Social Affairs to map the Iraqi labor market, including It enables knowledge of supply and demand functions and labor market stability by identifying employment levels and actual unemployment rates.
And he indicated that “the issue also requires generating an atmosphere of homogeneity in the labor market itself between workers in the private sector and workers in the state, which requires the availability of high flexibility in moving between jobs between the two sectors and according to need, provided that a joint and unified national pension fund be available for workers in the state and the private sector alike.” Whether without discrimination, as well as providing acceptable limits for homogeneity of wages and salaries according to the skills of workers in the state and the market.
He stressed that “it has become appropriate to legislate the law on partnership between the state and the private sector, which has been submitted to the House of Representatives for years, to speed up its legislation, provided that it provides a balance in rights and duties between the participating parties in full swing and enhances governance, productive efficiency and operating the economy with a strong impulse that will inevitably require the five great years of Iraq’s development.” really coming.”