Antoine: market economy ensures community rights

2/19/2017 0:00

BAGHDAD / Hussein Tgb / Farah pumice
Because it guarantees the rights of all segments of society and promote the production and maintains a capital cycle locally Iraq has begun to adopt the principle of transition from a centralized economy to an open market economy, in a serious step to achieve a multiplicity of resources and investment of local resources as fully as possible in accordance with the feasibility studies prepared for this.

The desired transformation

Vice President of the Baghdad Economic Forum on behalf of Jamil Antoine said that the shift towards market economy requires that we know we have any kind of it we want , but against him, pointing to the need to be our next destination in the desired shift towards social market economy and move away from the unrestrained market economy.

He said in an interview for the "morning" to the social market economy left a positive impact on the local community, through moving the wheel of production in plants and factories to raise its contribution to the GDP, indicating that it contributes effectively to solve the problems of high poverty and unemployment rates and reduce foreign imports and contribute to the reduce hard currency out into the outside , but on a small scale.

The content of Article 25 of the Iraqi Constitution discloses a clear definition of the nature of the new economic order in Iraq and suggests that " the state shall guarantee the reforming of the Iraqi economy according to modern economic principles to insure the full investment of its resources, diversifying its sources and encouraging and developing the private sector."


Antoine said the adoption of free - market mechanisms of social productive sectors to create an authentic supports the principle of competition in quality and quantity to serve the domestic market, is also working on the localization of capital within Iraq and prevent it from escaping out of Iraq and away from the national economy , which is in dire need of a service.

He pointed out that the trend of the most positive aspects, does not allow the monopoly of resources by a particular class, and even be in the service of society and improve the productive performance and communicate with rode development witnessed by the world in all areas of life.

Economic activities

And the market economy or free market economy is a capitalist economy or economic system , which is a key economic liberalism as a component, and the idea in a free economy is the lack of state intervention in economic activities and let the market regulate itself.

And the challenges facing the artificial joint to work in accordance with the market economy transition Antoine said , after 2003 was the private sector Astbhr a radical change in the management of the economy and the transition to a market economy, but over the challenges of several due to fear of the relevant authorities, pointing to obtain international pressure towards the privatization of companies public and turn it into a stock or special order to improve performance and raise the productive capacities and contribute to the lifting of the gross domestic product.

He cautioned that slowing down the privatization process did not provide an alternative to the ministries program continued to pay wages and reached 15 Trliuna until 2014 the Ministry of Industry exclusively without progress in the gross domestic product.

Antoine said that a lot of specialists have applied several studies to the concerned authorities for the purpose of privatization and improve their performance, but faced many obstacles and Amoalat of privatization has created a kind of fear toward privatization.

Transformation goals

He was among the expert academic Falah al - Rubaie , the goals of the transition to a market that is redistribution of roles between the public and private sector, and address the chronic deficits in government budgets as a result of its support facilities losers economy and financial market development and revitalization, as well as creating the right investment climate to encourage domestic investment and attract investment foreign, as well as improving efficiency in the use of scarce economic resources, through appropriate pricing of those resources and factors of production, especially foreign exchange and energy sources and Ras the money.