The World Bank for "Economy News": Iraq is making great efforts to reduce spending without affecting the private sector

The head of the mission of the World Bank in Iraq, Rubiro Bujouda, the government is making great efforts to reduce spending and increase the financial returns by following several ways to fill the budget deficit without affecting the private sector in Iraq.

"The challenges facing the World Bank in terms of development work in Iraq are no different from the challenges we may face in other countries in the region," Bujouda said in an online interview with The Economist News. Which is witnessing a military operation to liberate it from the grip of a terrorist organization. "

"The Iraqi government is responsible for preparing plans to find solutions to the crisis and the role of the World Bank is to provide support and assistance for the implementation of these plans, as the World Bank provides support at the request of the Government of Iraq and in accordance with the priorities it sets."

He added that "in this area, the World Bank has allocated 350 million dollars for the reconstruction of part of the liberated areas in the provinces of Salah al-Din and Diyala, in addition to the allocation of another amount of $ 355 million to rehabilitate the main road that connects Basra border Kuwait and the port of Umm Qasr" .

He pointed out that "Iraqi fiscal policy or to move more accurately" the budget "linked to oil prices, as the decline in the price of a barrel of oil directly affects the treasury revenues There are many factors affect the increase in expenditures, including spending on military armament, Which constitutes a large proportion of the budget of Iraq, which in turn puts pressure on fiscal and monetary policy in Iraq.

He pointed out that "the government is making great efforts to reduce spending and increase financial returns by following several ways to fill the deficit in the budget without affecting the private sector in Iraq and may represent the request for loans without affecting the size of cash in Iraq or private sector investments "He said.

He pointed out that "the biggest challenge we face is the security situation, not only in terms of the presence of World Bank teams on the ground, but to attract interested teams to work in those areas, so the project was placed under the emergency tent, which allows the use of government institutions and private sector institutions to reconstruct those areas "He said.

He stressed that "all reports prepared by the World Bank are carried out through cooperation and work as a team with government agencies, and does not publish any data only after the approval of government agencies to publish."

"In order to promote the private sector, the government sector should not be fully dependent on employment. The government has started to implement its private sector development strategy by reforming legislation on the development of this sector, Funding to be made available to the private sector, including small and medium enterprises, to provide more job opportunities. "

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