Discuss loans and reimburse contractors


BAGHDAD / Hussein Tgb
Mustafa al-Hashemi

Discussed by representatives of the team and the International Monetary Fund approval of the International Monetary Fund for a loan to Iraq in order to pay arrears to contractors, processors and farmers, and reimbursed by the government and the ways to solve this problem of the private sector.

He asked the Deputy Chairman of the International Monetary Fund for the Middle East and Asia Christian coconut at the beginning to talk about the possibilities that will increase state revenues, including the direct and indirect taxes and activation of taxes on non-oil products.

A coconut: Previously tariffs ranging from 5 to 10 percent, and this is not the correct way in which customs revenue gathering, stressing the need to change this method to reach 30 percent, indicating that the fastest gains and revenue comes from the organizing unit tax Almklvih This is achieved substantial revenue where imposed on a slide traders
grown ups .

He said it is necessary to freeze hiring until the development of the administration, because the high rate of staff in the civil service was a way to please others and employment without regard to efficiency, this system will lead to a deficit over the next 10 years, indicating the importance that the ration support to the poor is limited, saying either for the business environment in Iraq, it is more complicated for other countries and is slowing due to the lack of security and inadequate electricity and not to collect the dues and fulfilled.

He pointed to the problem of the weakness of the banking sector and the importance of strengthening the business through the Rafidain and Rasheed structuring and wide open space in front of the private banks, with the need to assess the weaknesses and the correct foundations for combating money laundering, as i
as it can resort to the Integrity Commission and to specialized organizations such as the IFC.

Coconut called on the government to help the private sector and the payment of overdue receivables, referring to a report in Arabic and English on the IMF website entitled (What is the strategy to address the arrears to global oil and gas Basra, the Ministry of Commerce for procurement of wheat and the electricity sector, in addition to the dues in arrears Contractors).

He stressed the need for scrutiny and ensure its legitimacy first, and what the government should do as there are 4 billion requires repayment terms will be paid two billion dinars of the loan and the government pays billion order to ensure the receipt of each contractor 50 percent during 2017 and the remainder by 2018.
He praised the nut at the end of his speech to the progress made by the Office of Financial Supervision in auditing transactions that have not been audited two months ago during a meeting in Baku.

The participants discussed the points that contribute to the upgrading of the economy and how to conduct business compared to last year expressing their visions gesture to the economy recovers note that the IMF does not support the existence of two prices for the disbursement of the dollar, and that taxes must be increased by 30 percent as the Fund point to exempt Jordan of this tax on Iran imported materials as well as Turkey and how to increase state revenues.

He spoke Ibrahim al-Baghdadi, in his intervention the meeting confirming the presence of positive aspects in the economy, saying that Iraq has begun levied tariffs which has doubled its resources in some ports and customs points to Aktrmen 30 times, and continued: For example, the Customs yellowish center now levied Daily billion dinars at a time which was the total levied entire month just to exceed the 700 million dinars.
Baghdadi pointed out that the collection of electricity in Iraq nearly doubled to 20 times, and the Ministry of Electricity has referred the collection of fees for electric power companies, under the investment contract, has started to show positive results clearly. He stressed that the payment of dues wheel will move the market and addresses the weakness of liquidity in the markets, which affected the per capita income and small business level.

Then speaker of the Federation of Iraqi contractors Snava sprayed arrears of transactions, which have been audited by the Audit Court, noting that the CCC includes 34,000 contractor in the whole of Iraq, and that a large part of their suffering occurring in tax settling accounts phase because the amount of the tax deduction reserved the The provincial tax departments demanding these amounts for the purpose of completing the tax settling accounts.
For its part the economic researcher Lubna al-Shammari stressed the importance of speeding up the implementation of reforms as they have a clear impact in the economy and supports opportunities to enhance infrastructure.

He said al-Shammari said in an interview for "morning" that the reform of the banking sector as a priority is a gateway to enter the diversified investments to Iraq, noting that the reforms should include all sectors of the economy and taking into account the priorities of priorities in this aspect.