Activating the productive sectors relieve the budget deficit requires government support

3/21/2015 0:00

BAGHDAD - Mustafa al-Hashemi

Requires economic situation which is going through the country to take swift action and implement mechanisms that will diversify the financial revenues of the state and expanded to overcome the challenges faced by the general budget of lower oil prices, which is the only economic resource for Iraq's budget despite having economic elements contribute to reducing dependence upon as a resource unipolar in government revenues.

In this context, the economic academic said Dr. Essam Mohamed: Iraq possesses Off semi parked productive sectors because of the circumstances over and passes out years ago, saying in his speech for the "morning" to industry, agriculture and tourism sectors is an important tributary to support state revenues, especially the possibility of promotion code But do not require government support and stability.

He explained that there are large sums of money to go to the imports, while the country is in dire need now to overcome the crisis by providing money and pressure and reduce the size of unnecessary expenditure through to support and promote local production, which could fill a large part of the import as well as the activation of financial resources in the sectors mentioned.

He pointed to the existence of additional financial resources would reduce the proportion of the deficit, including social contributions revenue, tax revenue, the sale of non-financial assets revenue, grant revenue, treasury transfers revenues.

He said Muhammad that these resources can be activated through the Development of patriotism among the public and government institutions keen on audit and control which would facilitate the procedures that support and support the success of reducing dependence on unipolar in the Iraqi budget.

He also pointed to the need to do as soon as possible revitalization of public sector institutions that rely self-financing because most of them rely on funding to the amount allocated from the state budget, which means that the majority of these institutions can not achieve financial returns cover of which operating expenses, as well as the importance of expediting the development of the sector Industrial to be able to play a major role in the economic development process, in addition to the development of the agricultural sector, where the Ministry of Agriculture initiated the first steps in this aspect by preventing the import of what can be planted within the country and the possibility of covering a market need.

He noted the economic academic to the subject of improving the public services sector, saying: become necessary in the light of declining revenues, the government focused on the means of earning money by charging for the service users so that they can cope with their obligations in other areas that require funding, explaining the importance of being service level wages There is nothing wrong updated from entering the corporate and private sector institutions in this area.

And the importance of Mohammed the tourism sector development of what is owned by the country of historic cities and archaeological and religious enables it to occupy a leading position among the tourist countries in the world will lead to growing tourism revenue for Iraq, including the amount of the proportion of the current year's budget deficit affected by external economic conditions.

He called the academic economic entities related to the simplification of procedures aimed at promoting the country's economy and bail him out of the repercussions of the stifling crisis of declining oil prices, explaining the need for the Iraqi solution in reference to be to make the external borrowing from international financial institutions last solutions that can be replaced by internal economic reforms .


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