Moves to reform the economic system

8/21/2016 0:00

 BAGHDAD - Muhannad Abdul Wahab

The Committee on the economy and investment representative, on Saturday, expressed its support for any project or proposal aims to increase the salaries of employees and retirees deliberately to coincide with the rise in oil prices, while showed that the increase in revenue supported the economic system in the country. Crude oil prices above $ 51 a barrel on Friday, hitting the highest level in eight weeks by rising for the seventh straight session amid hopes that the producers agree on measures to support prices.

Senior agent for the oil ministry said earlier, Fayyad grace, that «the total production of oil for Iraq amounted to 4.7 million barrels per day, while exports amounted to 3.9 million barrels per day, a new record». He added in an interview with the grace I followed the «morning», that «the figures include all parts of Iraq, including Kurdistan, Kirkuk».


Efforts to reform the economic system


In a related development, said Chairman of the parliamentary Economic Committee Jawad al-Bolani, said that «Iraq is seeking to reform the economic system», adding that «increase revenue supported the economic system, especially in light of the circumstances experienced by the country during the past two years».

Bolani In a statement to «morning» pointed out that «bonds launched by the government for compensation is extremely important process, which will help reduce pressure on the government and to left the pressures faced by the budget.»

He added that «the budget heavily indebted and there are approximately 4700 depends on certain financial abundance, which is for roads and health services project», calling for the state to »to take care of infrastructure projects of the country and if introduced new projects will have on the state money and trained staff which adds another burden on the budget in addition to the old burdens, so it must be subject to all incoming revenue to the government for study and planning ».

He Bolani, that «the increase of oil production will provide financial liquidity to complete stalled projects, which is one of the priorities of the government», adding that «the increase in employees' salaries should be subject of study and planning for the stability of the real as an increase for employees and retirees and are planned and based on realistic signs, as the employees and retirees have rights to the state, so it is necessary to seek the planning and installation of developments in the process of production increases will benefit the employees and retirees ».

And that «it is necessary to increase interest in investments and facilitate mechanisms, especially as the country is governed Investment Law» noting that «increasing financial abundance will provide support for investment and bring global capital to Iraq.»

For his part, the researcher affairs strategic Rahim al-Shammari, told the «morning», a realistic view of the general situation of the state, in terms of approving the budget by the government in early, which will help to give ample time for deliberation and amendment with the House of Representatives, in order to start regardless operational and investment budgets on time, and that will not cause confusion in financial transactions in the country.

He predicted al-Shammari, said that «the increase in oil prices of recent days, came with the increase in production and export», returned those things b «excellent», to improve the financial situation of the state », Msttrda« but remain the reconstruction of areas affected by the problem of terrorism and the exchange of the armed forces which is locked war, two of the main problems in the country since the financial crisis ».


Support an increase in the salaries of employees and retirees


In turn, promised a member of the economic and investment commission parliamentary Nora Albjara, increase oil production to «good step», calling at the same competent authorities time to «a study and planning of a sober and consult experts, technicians and specialists to develop important scientific touches on the increase and that should be in the interest of the country ».

She said in a statement to «morning», that «the Commission supports any project or proposal submitted by the government to increase the salaries of employees and retirees and thoughtfully planned».

She Albjara, that «the budget submitted by the government confirmed on ensuring the rights of employees and retirees», noting that «deliberate increase oil production will help the country to overcome the obstacles they face».

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