Parliamentary Finance: misguided policies and import the cause of hard currency out of Iraq

Since 01.16.2016 at 10:29 (GMT Baghdad)

Special - scales News

He stressed the Finance Committee in the House of Representatives member Hossam punitive, Saturday, on the necessity of activating the industrial and agricultural sectors in order to reduce hard currency out of Iraq, noting the importance of reviewing all the border crossing points, including the Kurdistan region outlets.

He said the punitive L / scales News /, said that "of necessity became serious work on activating the industrial sectors by the farm in order to reduce dependence on oil and to produce a product comparable to the product foreign to cover the Iraqi consumer need," pointing out that "this would reduce foreign from Iraq currency out Because of import and wrong policies to flood the market. "

He added, that "it is necessary to do the customs tariff and re-examine all the border crossing points, including the Kurdistan region of outlets," noting that "some agricultural crops to be covered by farmers in Iraq in order to prevent hard currency out of the outside and dismiss dependence on imports."

Oil is the main source of income for the budget in Iraq, as revenues constitute approximately 90% of the total financial budget.

But the drop in oil prices led to a significant budget deficit in the country, prompting the government to increase production in order to reduce the deficit, external borrowing, which always warns him supreme religious authority and economic experts.

While government officials calling for diversifying sources of income and activate agricultural and industrial production sectors, duties and taxes rather than relying on oil.

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