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Economic reform and the future of youth
Economical 01/17/2024
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Yasser Al-Metwally
In her bold and direct question to the Prime Minister about the future of youth and job opportunities, a young Iraqi woman attracted the attention of millions and the interest of economic affairs specialists when the response came from the President: Without economic reform, we cannot meet the demands of the unemployed, their entitlements, and their rights to the state and society.
What reform is this man talking about?
Real economic reform cannot be achieved without investing energy (human investment), and this matter has requirements that the state combined with its executive and legislative powers must achieve.
A few days ago, the Council of Ministers approved a draft economic reform law in the hope that it will be reviewed and scrutinized by the highest legal authorities in the country and returned to the Council to be submitted and approved with legislation by Parliament to be effective.
Perhaps there are solid foundations for achieving real economic reform, foremost of which is untangling the overlapping laws related to the nature of the clear economic approach that must be followed.
Many of the laws in force now are inconsistent in terms of the economic approach that is supposed to be implemented, including remnants of the old totalitarian regime laws and others from the modern free regime laws that were legislated in accordance with the constitution.
These intersections allow officials the freedom to choose a law that takes into account their interests, or let us say that takes into account the level of their orientations, and this particular issue hinders the achievement of the reform that is intended to be achieved according to the free approach (market economy). To be honest, and without hesitation, I say that these intersections have contributed greatly to the deepening and extension of corruption, because some Officials either have little knowledge and are subject to many wrong decisions that conflict with modern laws, especially if they are not specialists with little experience, or they are weak-minded and their personal interests take precedence over the interests of the country’s economy. Here, it is required to review the administrative performance evaluations of officials from the highest to the lowest levels and choose the competencies to replace them. This procedure is considered the second foundation of economic reform.
Here it must be pointed out that the economic approach followed in accordance with what was approved by the Constitution (market economy) and any measure that hinders the role required of the private sector to perform is considered an obstacle to the desired reform.
Returning to the beginning, what is required now is to speed up the ratification of the law as we begin a new year in which we hope for good with an economic and political breakthrough to stabilize the country’s economy. These are the beginnings of social stability, one of the most important features of which is the creation of job opportunities for young energies.
However, although we are not aware of its contents, this law suggests that there is a glimmer of hope for correcting the paths of the economic approach.
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