Magda Tamimi: Rethinking the fiscal policy has become inevitable


BAGHDAD /tomorrow Press - Confirmed the parliamentary finance committee member Majda al-Tamimi, said Tuesday that re-examine the fiscal policy in the country has become inevitable, stressing that it is necessary to diversify the revenue until the economy not be subject to fluctuations in world oil prices and policy affecting the oil market.

She said Tamimi in an interview for "tomorrow's Press," that "the general budget still depends largely on the oil revenues, which amounted to about 86%not to mention the absence of other sectors and have yet to find those considering or actual steps of the previous governments and the current to change this approach, it is imperative to restore public finance policy and provide what is more worthy to work with and this is it inevitable to provide subject for discussion".

She said Tamimi, "it is necessary to diversify its revenue so it is not the economy subject to fluctuations in world oil prices and policy affecting the oil market," indicating that "it is by stimulating the export subsidy policy and the trend towards investment in the real sector and the importance of opening the door for foreign direct investment as playing a significant role to reduce production costs and improve quality".

She stressed that "there are ideas and proposals submitted to the Committee and will be discussed in turn after the completion of the vote on the 2017 budget being busy, and will be discussed by effectively to put an end to this file, which repeats its mistakes every year without change".

Alghadpress.com

Courtesy RCookie

GM GUYS..

HERE IS TAMIMI PROVIDING SOME EXCITING INSIGHT AS TO IRAQ'S 2017 OIL RELIANCE DOWN TO 86%....BIG MOVE FROM THE 95% FROM PAST AND IMF EMPHASIS ON WANING OIL RELIANCE...

ALSO SHE OUTLINES THAT FOREIGN DIRECT INVESTMENT (FDI) AND RESTORATION OF SOUND PUBLIC FINANCE POLICY AS MEANS OF DRIVING IRAQ'S EXPORT CAPABILITIES THROUGH IMPROVING IRAQI MADE GOODS PRODUCTION COSTS AND QUALITY WITH APPLICATION OF THIS FDI...WHICH SHE POINTS OUT HAS BEEN TALKED ABOUT IN THE PAST BUT NOT ACTED ON.....

SORT OF PLAYS INTO SALEH STATEMENT ABOUT "IT BEING TIME FOR DEEDS AND NOT WORDS" IN THE STRATEGIES TO REPAIR IRAQ'S ECONOMY...