National Business Council submitted a paper to the government to activate the private sector...

by **Ponee** Sat Dec 27, 2014 11:09 am

National Business Council submitted a paper to the government to activate the private sector and emphasizes: the Iraqi economy is not inclusive nor free

Announced the National Business Council, on Saturday, for presenting a working paper to the Economic Committee of the Council of Ministers to support and activate the "private sector" in light of lower oil prices and the financial crisis experienced by Iraq, and said he aims to be an ally and supporter of the country's economy, and as pointed out that the Iraqi economy is suffering "big blur" It is not a "totalitarian nor free", expressed his willingness to make detailed studies and research for the development of all economic sectors, modernization and advancement.

The council said in a statement received (range Press), a copy of it, that

"For the sake of the Council on the growth of the country's economy, which everyone should participate in the support we presented a working paper to the Economic Committee of the Council of Ministers headed by Deputy Prime Minister Ruz Nuri Shaways aims to support private sector which will be an ally and supporter of the country's economy. "

He said the Council, that "the Iraqi economy in general is suffering big blur, it is not economical centralized totalitarian as it was, and it is not a free and open market economy, but it is a mixture of the two," attributing the cause to "the lack of a clear imprint can be called by this economy."

First, when our review of each labels and economic terms, we can not put our hands on an accurate characterization of what we are, and here we must start a new start of the start point is below zero now, which should begin in accordance with the following data.

Second, we must supplement the Ministry of Planning and Finance, Economic, financial and scientific talent to develop visions and draw up the general policies and plans and the use of global economic organizations and research centers and research strategy as well as the activation of administrative development policies to Jamea ministries, and the involvement of the Iraqi private sector through organizations that are represented in the enactment of legislation on the economy.

Third, take advantage of our revenues in the current financial support for small and medium enterprises through the establishment of a large investment bank with a capital of his mission is to be the first investment and investor support and without significant benefits in return for soft guarantees.

Fourth: the privatization of industrial and agricultural stalled projects and the way the court to not lead to a waste of public money or the loss of workers rights involve the BSA to put real standards and be sergeants and transparent in providing full and equal opportunity for all Iraqis to buy and manage subject to privatization projects.

Fifth: activating the role of the Central Bank of Iraq in the development of the performance of the Iraqi economy by issuing instructions that facilitates the performance of public and private banks, insurance companies and find the real criteria for the level of performance of those banks that have achieved good levels to support economic activity and the provision of soft loans to citizens.

Sixth, the development of the professional sector in Iraq in order to rehabilitate the central staffs that the Iraqi economy and the labor market is suffering an apparent lack in by developing vocational training centers and the establishment of long courses and short to supplement the construction sector and the industrial sector modern youth experiences bridging this shortfall and to get rid of unemployment.

Seventh: cemented the country's infrastructure through the completion of energy projects and paving streets and the development of border crossings, ports and airports and the use of the private sector in the privatization and implementation of projects. Eighth: attracting foreign investment through the creation of an attractive investment environment for investment and this does not take place unless Petrchin the security situation in the country. "

The Council expressed its readiness "to provide detailed studies in order to develop all economic sectors and provide research that will help us in the advancement of this deteriorating sector and move him to modern economies," stressing that "willing to work seminars and workshops all relevant ministries and civil society organizations participate and develop recommendations help everyone to develop a common vision to meet the aspirations of the proper transmission of the economy of a free and healthy. "

The International Monetary Fund (IMF) predicted in the (tenth of November December 2014), the rate of contraction of GDP growth for the economy of Iraq to about 0.5% during the 2014 fall, and pointed out that the rate of contraction that is "better" than the previous forecast, which was up to 2.7%, and as likely to reach the Iraqi economy, the growth rate of about 2% in 2015, stressed that the recent agreement between the central and regional governments in Baghdad will contribute to achieving this.

Attributed member of the Committee on Economy parliamentary and investment, in the (tenth of October 2014), the downturn is likely the Iraqi economy to security implications, while an economist saw that "terrorism" Increase public expenditure and disrupted a large part of the state, especially oil resources, and called for the need to "bring Revolution "in government action and investment activity, because the initiatives" timid "did not meet the required purpose nor can clog the requirements of the country."

The Committees called financial and economic both parliamentarians, in (the 11th of February 2014), to deal seriously with the warnings of the International Monetary Fund on increased government spending, and its implications for monetary reserves, while the Finance Committee showed that the government "threatened with bankruptcy" within four months if you do not pass budget, and felt the economic counterpart, that the budget estimates "did not take" into account the regional and global developments, and it is prepared about "hazy and unclear" and came a "mere allocations", warning of financial prejudice reserves Iraq of hard currency.

And reached 2013 last year's budget 0.138 trillion Iraqi dinars, on the basis of calculating the price of a barrel of oil at $ 90, and the amount of export of 2.0009 million bpd.

It is noteworthy that the private sector has seen a significant deterioration after 2003 due to the lifting of government support him and especially for the industrial sector of it, which led to most of the laboratories and factories stopped working because of their inability to compete with imported subsidized goods in the countries where they come from, which are not subject to import operations large fees, as well as local problems caused by energy crises and fuel and lawlessness, and aging equipment.

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by **RoyBoy** Sat Dec 27, 2014 6:10 pm

National Business Council submitted a paper to the government to activate the private sector...

National Business Council submitted a paper to the government to activate the private sector...

Re: National Business Council submitted a paper to the government to activate the private sector...