Experts: saving drives investment in the country

Experts: saving drives investment in the country

2/14/2016 0:00

BAGHDAD - Farah pumice

confirmed economists need to apply the laws to the principle of disclosure and transparency of financial-Qaeda in Iraq, and the mobilization of funds and direct them to needed resources in a scientific manner and methodology.

As exhorted citizens to save their money in banking institutions, public or private, to be invested properly, calling at a time the same banking entities to create the appropriate credit to them.

financial expert d. Majid picture pointed out that the basic problem is the lack of an integrated statistical financial rule in Iraq, especially given that Iraq's imports and other non-oil is not obvious features yet.

Image stressed the need to follow the principle of disclosure and transparency on the amounts in different directions, and the disclosure of cash flow and money involved of the country or spent, according to databases available to specialists.

He Suri importance of providing the tasks at hand, and how to address them, as stated by the government program which point serious in its application on the ground despite the obstacles, through the money directed the right path.

it urged economic advisor Abdul Hussein Al-Anbuge in earlier statement »Sabah» on the need to mobilize financial management of the funds and directed properly to the need for resources, especially that Iraq is one of the chunky countries and not saved, saying that saving the investment component move the process

in the country.

He urged at the same time the importance of administrative reform through transformation full of the central system to the decentralized, which would entail the decentralization of financial management and verifies the existence of infrastructure and financial management in the provinces.

while he explained that the country is in great need of financial management reform and taking into consideration the standards of governance in the financial administration, stressing the importance of establishing an integrated financial institutions operate according to international standards include banking performance and payment and disbursement of funds and direct them toward transparency and disclosure.

and find specialists in economic affairs that follow international standards in the management of financial resources drives the joints of the economy in the country, especially the productive sectors, and achieve sustainable development without relying on oil revenues to supplement the annual budget, by directing money to need resources actual.