Experts: Investment financial reserve stimulating the economy

4/19/2014 0:00

BAGHDAD - Farah pumice
In order to stimulate growth in the country and private sector participation in the development process taking place in the country , experts called to support the project « revitalize the Iraqi economy » and activate the strategies adopted by the government in line with the current circumstances , especially that Iraq has financial reserves huge can be invested in achieving this.

Project Director Dr. Abdul Muti said pumice »Sabah » that the project submitted to the state was based on the Constitution and the National Five-Year Plan (2013 - 2017) , as well as special studies and research centers and Iraq's economic and foreign .

He pumice that the project « revitalize the Iraqi economy » adopted by the Iraqi Businessmen Union is an extension of the project of economic reform , which was carried out by the Union in the year 2012 - 2013 and came out with recommendations submitted to the responsible parties in the government and parliament, and we have seen some positive effects , particularly the activation of the laws on tariff and the protection of Iraqi products and consumer protection.

his part , said economic expert on behalf of Jamil Anton , Vice President of the Federation and the presence of human potential high (30 University ) and completed (14) strategic and economic roadmap approved by the Council of Ministers , but the dominant presence of the absence of balance and lack of integration between the public and private sectors.

And saw Anton said « provincial councils turned to the boards of political , rather than councils production and services , especially as the annual budgets are not the paragraphs referring to the private sector , in what was supposed to be involved in developmental processes » .

Warned that «the industry semi- dependent , it is the total ( 35 ) thousand industrial project works no more than 10 percent and the production capacity is low , while the expenses amounted to import more than 74 billion dollars for the introduction of goods randomly not based on the needs of the market » , he says. either economic expert Majid picture revealed the existence of a financial reserve can significantly participation in the process of revitalizing the Iraqi economy , indicating that « there (38) trillion dinars at the central bank , and (6) the trillions in the bank , in addition to (3) trillion budget surplus , in addition to other amounts to the pension funds , insurance, endowments , while there ( 6000 ) project unfinished » .

The new mock his call to establish a Supreme Economic Council to draw strategies sectors , made ​​up of members of the 50 percent of them from government experts and the other half from the private sector , stressing the importance of the legislative environment to enhance the Iraqi economy by issuing new legislation could be proposed by the Supreme Economic Council , including the fee system of the economy.


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