An open letter to the Prime Minister a message roadmap to overcome the economic and financial crisis

An open letter to the Prime Minister a message roadmap to overcome the economic and financial crisis, the government of technocrats sought

- Published in 02/17/2016

Since 2003 and up to the present time the Iraqi economy suffered so much from the loss of economic planning and poor dispersion strategies and policies, chaos and confusion in the management of the affairs of the various sectors of the economy, which led to [...]

Since 2003 and up to the present time the Iraqi economy suffered so much from the loss of economic planning and poor strategies and dispersal policy, chaos and confusion in the administration of the economy and various sectors, which led to the weakness of its contribution to the GDP has been focusing on oil as the main supplier of economic resources, where the form of limits (56 % -60%) of the gross domestic product and 93% of the total budget revenues.

so it was the Iraqi economy is a man who is one and the other lame and which contributed to the aggravation of his problems is the abuse of public money management and financial and administrative corruption and the marginalization and the dimensions of the national economic cadres (technocrats) for enterprise management economic actors in addition, foreign economic conditions, including instability in oil prices and the rise and decline and the inability of previous governments to establish a sovereign fund (government reserves) when oil prices go up just like any other oil-producing Almnth countries.

it confounded the economic process in Iraq and the increased complexity is the lack of fiscal and monetary policy are clear and specific goals and strategies, which led to lack of control over fixed and balanced rates to the price of the Iraqi dinar exchange rate against foreign currencies in addition to that some of the monetary policy applications Kmzad selling daily currency contributed to the leakage of large amounts of foreign currency out of Iraq actual Kastiradat or non-real (money laundering). this happens with confusion vision for coordination between fiscal and monetary policies.

for all these reasons, combined with the lack of security and stability and the war on terrorism and theft of public money and not the corrupt accounting and the inability of the competent authorities for the recovery of money smuggled stolen bringing the country to the economic and financial crisis The current suffered by the economy, so that the economy is currently undergoing pre-recession and economic collapse

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Sameer Al-Nusairi- Open letter to PM Abbadi