Ministry of Finance: The Financial Reform Paper is a step towards a diversified and integrated economy

by **RamblerNash** Wed Oct 21, 2020 10:15 am

Wednesday 21, October 2020 14:53

Baghdad / NINA / The Ministry of Finance confirmed that the financial reform paper is a step towards a diversified and integrated economy, and it seeks to introduce radical improvements to the state’s management of the financial system.

The ministry said in a statement that the Iraqi National News Agency / NINA / received a copy of it today: "The reform and activation of the private sector is done by creating a stable investment environment and reviewing some self-financed public companies, in addition to activating the collection of the electricity sector."

She added, "The reform paper seeks to change the course of the national economy from the role of state control to the role of regulation and law enforcement, paying attention to vulnerable groups and social welfare, and working to introduce radical improvements to the state's management of the public financial system to reduce the continuous waste of resources."

The ministry indicated: "Restructuring the banking sector is an urgent necessity as it is the backbone of any economic expansion through developing deposits and loans with a mechanism different from the current one."

She explained, "The current decline in productivity and income due to the dominance of the non-productive public sector calls for scientific and real treatments, and this is what the financial reform paper seeks. "/ End 7

https://ninanews.com/Website/News/Details?key=864114