Baghdad Economic Forum holds a workshop in partnership with the General Secretariat of the Council of Ministers

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Baghdad Economic Forum holds a workshop in partnership with the General Secretariat of the Council of Ministers

Post  Admin on Fri Aug 04, 2017 11:40 am

Thursday, 3 August 2017 - 1:11 PM


The Baghdad Economic Forum, in partnership with the General Secretariat of the Council of Ministers, organized a workshop to discuss the trends of maximizing the resources of the State, conducted by the economic expert Majid Al-Souri in the presence of a number of relevant officials and local and foreign economic figures.

 The Secretary-General of the Council of Ministers d. Mahdi Al-Alak, that the participation of the Baghdad Economic Forum comes to support the government to the private sector, noting that the government has been keen to involve the private sector in all economic committees.

He welcomed the approach of the Baghdad Forum, which aims to hold a series of workshops that diagnose the economic imbalance and put forward recommendations that represent realistic images, stressing the government's move towards economic reform to achieve comprehensive development and the gradual transition to the private sector, and Iraq after it exceeded the economic risks coinciding with the war on a daunting, Economic reforms that he has initiated.

 Al-Aalak said that Iraq is suffering from many economic problems because of its dependence on oil revenues, which fell by about 70%.

 He added that the government has been reforming through issuing resolutions to compensate for the decline in oil revenues and eliminate some of the problems affecting the country's economy. Developing public and private sectors and improving the quality of national products.

 In a statement issued by his press office, the head of the Baghdad Economic Forum, Fares Al-Salman, announced that the workshop on "Trends in maximizing the resources of the state" is the first workshop of a series of workshops that will be held by one major workshop a month with the participation of economic thinkers in Iraq, parliamentarians, Specialists in state institutions, the private sector, civil society and intellectuals.

The economic adviser in the House of Counselors d. Abdul Hussein Al-Anbuge paper entitled (ways to maximize revenues and rationalization of expenditures) called for the transition from a state rent to a state tax levies, "asserting that" to rebalance the Iraqi economy must be the heart of the equation. "

 "The transition from a rich government is exempt from taxes and fees paid by the citizen because all the oil revenues are in its pocket, to a government that is already living on taxes and fees to follow its administrative affairs, which will not be significant in light of the real shift towards a market economy. Because oil revenues will not be in its pocket, but in the pocket of the public.

 " Al-Anbuge said that "the public pocket is the people's development fund. The government will strive to put the facilities and legislations and create an environment conducive to the work of the private sector to accumulate capital, invest, produce, profit and generate income for production elements. And financing their activities.

" The research paper of the Prime Minister's Advisor for Financial Affairs Dr. Mazhar Mohammed Saleh, presented on his behalf by the journalist and economic writer Laith Mohammed Rida entitled (Financial Strengthening of Iraq: Vision for the years 2018-2020). Saleh said in his paper, "The imports of crude oil dominate the order and movement of three basic balances in the national economy, the current account of the balance of payments and the federal budget, and the last balance is the contribution of the oil sector in the components of GDP.

 "If we exclude the oil resource from the three scales mentioned above, the country will turn to a complex tripartite deficit that is difficult to dismantle in the short term because of the narrow diversity of national income sources," Saleh warned.

 "The modern fiscal policy of producing and exporting countries A measure to measure the actual deficit rooted in the financial structure of the high-rent economies was called non-oil primary balance-NOPB, ie the non-oil balance, which expresses the amount of (negative) if all public expenditures were subtracted from non-oil revenues Of the Naf As well as debt services because they relate to previous financial year commitments).

 The Prime Minister's Advisor for Finance recommended seven practical steps to be adopted starting in fiscal year 2018: "The first is the establishment of an account on behalf of the public debt compensation fund, the second is the adoption and expansion of the outsourcing system at the level of customs, and the third is the adoption of the tax- The fourth is to expand the system of partnership with the private sector in the distribution of electric power, and the fifth is to legislate the sales tax law by calculating the tax on the final value of the service, and the sixth is to improve the management of collection fees (non-sovereign) and wages approved in accordance with Article 24 of the Federal Budget Law In 2017, and the development of fuel subsidies Seventh system and limited to the consuming classes poor.

 Professor of Economics, Faculty of Management and Economics at Mustansiriya University, Dr. Falah Khalaf Ali Al-Rubaie, presented a paper entitled "Analysis of the Exhaustion of the Economic Surplus in Iraq," in which he called for the implementation of economic reforms consistent with a long-term economic strategy whose main objective is to reduce dependence on oil revenues In the domestic product or source of financing imports, in order to make the contribution of non-oil output more than 80% of the fiscal budget.

 Al-Rubaie added that "this objective can be achieved through the adoption of the three elements of the President of the economic policy, the diversification of economic activities to increase non-oil exports and increase private investment (domestic and foreign) and intensive application of human development programs and programs to rehabilitate skills and improve productivity and the introduction of advanced technology, Economic development by encouraging and facilitating the participation of national capital
For foreigner in the ownership of domestic and foreign projects.

 The paper, presented by the President of the Baghdad Economic Forum Fares Al-Salman, titled "Maximizing State Resources ... Successful Ideas and Experiences", stressed the need to identify the Iraqi economy and economic doctrine, with an ambitious real vision of the investment map, priorities and ways of attracting funding.

Aggregate industries and manufacturing industries through public-private partnership - Real private sector not financially qualified / Unskilled labor / Challenges of the Fourth Industrial Revolution.

 Al-Salman called for the establishment of specialized scientific research centers in order to move to the stage of industrial innovation and development, re-evaluate the wealth of Iraq / strategy of perception of each type of wealth, raise the participation of the private sector in the gross national product, raise the administrative and financial efficiency of state structures, And money laundering.

Salman pointed to the importance of smart government support by encouraging small and medium-sized industries through the establishment of industrial zones and export support funds, the movement of the financial sector, insurance, real estate and business services, construction and construction, trade, restaurants and hotels and electricity

 The paper presented by the Director General of the General Authority for Taxation Abbas Abbas, entitled (reform of the tax system in Iraq and its role in maximizing revenues) and reviewed Abbas, 6 proposed strategies for the period (2018-2020) through the tax reform missions, which said it was held with international bodies, The first is to simplify the procedures of the tax system in Iraq, and the second is the credibility in dealing with the tax policy in Iraq, indicating that the achievement of the above objectives either through the budget law or through the amendment of the income tax law.

The strategy is based on simplifying the calculation of the tax on the salaries of employees of the state, the public sector, the private sector and the private sector.

 The strategy is no more than 10% (3) regarding the fact that the tax rate in Iraq is low and does not exceed (1) 15%, and therefore must be reduced Ba B Exemptions While the percentage remains without further action, the income tax law needs to be amended. Abbas added that strategy No. (4) related to the subject of tax secretariats drawn from the border crossings.

 A draft amendment to the Income Tax Law has been prepared and is now before the Legal Department and a copy of it is attached.

The proposal is to deduct these funds in the form of income for the next estimated year. (5) is based on the expansion of the sales tax base.

 Otherwise, Strategy No. (6) is based on the tendency of the state to increase tax revenues and in order to reduce unnecessary consumption and the fact that the sales tax is Taxation in which the tax evasion is limited The Commission decided to expand the base of this tax and can put these materials in the budget of 2018.

The research paper of the Ministry of Industry and Minerals presented by the scientific adviser to the ministry, Dr. Hamoudi Abbas, entitled (Improving the participation of the industrial sector in the GDP) And reviewed the efforts of the Ministry of Industry and Minerals, with the aim that the national product occupies its position in the economic life of each individual in the community and that its production in accordance with international specifications is a regional competitor and in cooperation with the local private industrial sector and development, An active partner and the leader in the industrial decision-making.

 Hamoudi said that the allocation of the amounts on the annual investment budget amounted to (3.444) trillion dinars for the period of 2008-2014, which had a great impact in the rehabilitation of some production lines, which led to an increase in production capacity, adding that the national industry and up to 2003 accounted for 14% Of GDP.

 He added that spending about 321 billion dollars for the period 2006-2014 has been diverted abroad through import programs that are not studied and that support of the national industry will contribute to stopping this waste.

 The technical agent of the Ministry of Agriculture d. "The role of the agricultural sector in maximizing resources", in which he stressed that the agricultural sector is the main engine of most sectors and activities and is characterized by its sustainability with an actual need for its outputs, and it contributes effectively to the development of gross national income.

 Our country starts from the agricultural sector as the solid and solid base from which most sectors originate.

 Al-Qaisi said that the agricultural sector needs serious government care, especially through the protection of the local agricultural product.

This requires tightening the control and control of the border crossings to prevent the entry of agricultural materials (plant, animal, feed and other agricultural and veterinary supplies).

 Especially the Ministry of Finance, the General Authority for Customs, the Ministry of Interior, the General Directorate of Border Ports, Economic Security and the Ministry of Agriculture.

 The Ministry of Agriculture is working on an annual import plan for the above mentioned materials, For the local product to plug the deficit through the quoted import.

 Al-Qaisi also proposed to emphasize the application of the Agricultural Quarantine Law No. 76 of 2012 and the Animal Health Act No. 32 of 2013 and the Seeds and Seeds Law No. 50 of 2012 and the Registration, Approval and Protection of Agricultural Varieties Law No. 15 of 20
14 and the Law of Registration and Certification of Pesticides No. 47 of 2012 and the Law of Trading Agricultural Substances No. 46 of 2012, and not to allow or give any exceptions outside the controls of these laws and their instructions in force and to ensure the application of these laws and instructions in force on all governorates of Iraq without exception.

 The participants enriched the work of the workshop, with their interventions and participations, which added an interactive atmosphere to the workshop.

In conclusion, the requirements for the rational use of financial resources resulted in the management of the workshop, represented by Dr. Majid Al-Suri, who called for a clear identification of the Iraqi economy, defining the strategy of economic and social development and setting the necessary plans for implementing them according to a timetable, Adopted a social market economy).

 He referred to the importance of bold restructuring of financial institutions in Iraq, especially government banks, including the integration of commercial banks in one bank, as well as all banks specialized in a large development bank, and control of foreign trade and border crossings, land, air and sea, which is a vital area of ​​financial corruption , And an important factor in the obstruction of local production and economic development, and provide an environment conducive to the development of private sector production and service in all areas and work to enable it to cooperate with the public sector.


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