######Economic Forum In Beirut

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Iraqi Economic Forum recommends taking advantage of the immigrant experience
Monday, 01 April / 2013 09:11


BAGHDAD / agencies

Exhorted "Iraqi Economic Forum first scientific" Baghdad to take advantage of the experience and the Iraqi economic efficiencies that were forced to migrate, to contribute to the development of sound economic policies should be adopted by policymakers to achieve sustainable development in Iraq. And addresses the forum, which is organized by "network of Iraqi economists" in Beirut for three days, axes notably structural distortions in the Iraqi economy and the problem of the rentier state, and issues of oil and gas and management of the oil industry, and the role of the private sector in development and the policies needed to attract foreign investment, along with monetary policy and the independence of the Bank Central, and fiscal policy and planning, agricultural development and water resources.

The Deputy former Iraqi President Adel Abdul-Mahdi, who was unable to attend, the word president entitled "rentier state ... based barrier to sustainable development", presented on his behalf by an energy specialist at colleague Walid Khadduri on the opening day yesterday.

He stressed that Iraq has four basic stages of economic, first adopted on agriculture and ran from 1920 until the early sixties of the last century, and the second started in the mid-fifties and spread to the eighties in the form adopted almost entirely on oil. The third period was in the war economy and the spread of the eighties to nineties shift during which the army and military institutions to device dominates the economy, keep huge debts on Iraq amounted to about $ 120 billion before the invasion of Kuwait.

The Mahdi to "the country entered then stage the economy rent which can be divided into two types are similar in content but differed in shape: the first economy rent mono under isolation and political autocracy between 1991 and 2003, which saw the collapse of the national currency and the demise of the middle class, and the second rentier state in the case of political openness and economic freedom. "

He added that the constitution after 2003 provided for the introduction of a free market economy, and that the oil wealth belongs to the people and not the state, and to develop a law for banks and guarantee the independence of the central bank, in addition to encouraging private investment and transfer of capital from the country and it, and determine the value of the currency in accordance with supply and demand, etc., "However, these reforms have not been implemented and the situation remains as it was during the previous era, but the phenomenon of corruption has emerged and sag and chaos in public administrations, as well as a dangerous rise in the unemployment rate."

Mahdi suggested some solutions, most notably reducing the size of the state, so for example, reduce the number of ministries, saying that it is unacceptable that the number of ministries in Iraq in 27 compared to 20 in China. He also proposed to resort to social mobilization and the parallel economy and the adoption of a market economy actually not a word to be the standard for the efficiency of the public and private sectors, as well as strengthening the role of the private sector.

The Iraqi ambassador to "the Food and Agriculture Organization of the United Nations" (FAO) Hassan al-Janabi, "that the water and agriculture sectors destroyed as a result of wars and sanctions, pointing to trends supportive of the two sectors to achieve economic and social development.

He explained that "the government has allocated funds sectors contributed to the stop Tdhorhma to show signs of a real renaissance," adding that "Iraq is moving towards self-sufficiency in some crops." He said: "Despite the increased government financial allocations outside the framework of the budget of the Ministry of Water Resources and the Ministry of Agriculture, but Iraq is still far from achieving food security."

And participate in the forum Governor of the Central Bank of Iraq previously one of the founders of "network of Iraqi economists" Sinan Shabibi and a number of Iraqi officials and deputies and a group of experts. The first session saw honoring Khadduri for Ataouath continuing in the field of energy especially the Arab and Iraqi general.


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