Economic reform is achieved by effective economic leadership

Samir Al Nusairi *

The main tasks of the government program are to strengthen the economy and rebuild it according to a reform strategy based on time programs, policies and procedures implemented by the ministries and concerned parties according to the principle of service of the people and achieve reform and economic stability and reconstruction and revitalize the economic cycle and achieve prosperity for the people who suffered during 15 years of instability and terrorism and loss For the basic services and in order for the new government to achieve these goals and wishes should lead the main workshops of national economic leaders in the next phase because the national economic elites in various disciplines must be It has an active role in analyzing and assessing the economic situation in Iraq after 2003, identifying the failures and challenges, and defining the visions, policies and reforms required for the economy, adding and enriching the successful experiences and bright points that emerged during the suffering of Iraq from the financial and economic crisis it is going through. They are given the right opportunity to lead the wheel of change and reform because the Iraqi economy for its builders and its interests only sons especially experts and thinkers and technocrats with the real experience of previous successful work locally and abroad.

That the observer and observer of the role of government institutions during the lean years passed by Iraq and still passing by in terms of management of the Iraqi economy notes that there are failures and challenges and black pages related to the loss of methodology and the lack of clarity of policies and programs and the lack of harmony strategies developed in partnership with international organizations and experts with the reality of the Iraqi economy Which depends mainly on oil revenues and the consequent structural and structural imbalance in the economy and the lack of stability in the financial system and monetary system due to non-oil revenue deficit and deficit in the balance of payments and wages Pass in public budgets and poor coordination between fiscal and monetary policies added to that poor money management of the public is clear and weakness in the economic leadership of most of the government's economic institutions, and added to it not to involve and give an active role for the private sector in economic decisions and palaces industry in the legislative environment governing the management of the economy.

All the above failures, combined with political and security instability and the war on terror, have led to economic instability and lack of vision to build a solid national economy capable of drawing the preconditions for a transition to a social market economy that I believe is the solution to our economic reality.

The challenges presented above have created the pessimism and gloomy outlook of our economic future among many of our economic elites. But I believe and believe many economists and financial experts that there are points and promising and bright experiences that some economic institutions have done clearly and effectively during the years 2015-2018, .

One of the highlights of this march is the experience of the Central Bank in supporting the national economy while maintaining its functions and objectives defined in its law. The most important achievement of the Central Bank is its contribution to achieving economic steadfastness and strengthening the decisive victory over terrorism.

I do not want to clarify the executive and development procedures and build balanced relations with Arab, regional and foreign banks and its strategy for the next five years. The results achieved on the scope of the application of monetary policy internally and convince the international financial organizations and the most important official reports issued by them confirm the success of the policy of the Central Bank to achieve an important transition to the Iraqi economy and achieve Stability of the exchange rate and the recovery of the Iraqi dinar and increase its purchasing power, which is one of the objectives of strengthening the economy in the government program.

In addition to its various contributions and initiatives to activate the economic cycle and enhance the liquidity of banks and reach a re-bridge coordination between the financial and monetary policies and propose new economic and structural policies to prepare budgets for the coming years and attempts to restore confidence in the banking system.

The Central Bank has proved its clear ability to interact and analyze obstacles to work and create conditions to overcome the challenges, and the road is still long before the Central Bank and the competent government agencies in order to achieve a sound national economy so I call on the national economic elites to interact with the points and experiences light and enrich them with their ideas and visions and proposals To build a strong national economy and overcome the challenges and correct the wrong tracks and dialogues transparent and calm without personal and partisan targets, because the abuse of our national economic institutions of sovereign is the abuse of Iraq and its people.

* Economist and banker


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