Economic reform in Iraq

by **Rocky** Sat 24 Sep 2016, 3:23 am

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Economic reform in Iraq

by Rocky Sat 24 Sep 2016, 3:23 am

Economic reform in Iraq

9/24/2016 0:00

[rtl]Adnan al - Janabi * transition from a rentier state to state collection rentier state is a state that relies primarily on the rentier income (oil) derived from abroad (oil export) and go directly to the government. The state of collection, it is the state government in revenue based on tax collection citizens. the Iraqi Constitution states in Article (5) thereof that «people are the source authorities», and in Article 111 that «oil and gas belongs to the Iraqi people in all the regions and provinces» this means that the spirit of the Constitution is in the principle of ownership of the people (and not the government ) for oil and gas resources. There is nothing to prevent states from enacting a law to give oil and gas resources to the citizens directly and evenly, in whole or in part. Mr. Adel Abdul - Mahdi , suggested in 2011 the oil income distribution among citizens equally, and he called « the basis of income». He suggested imposing a tax on oil income base rate (70 percent). The rest is deposited in the bank accounts of citizens. As has been the display in the draft of the Iraqi National Oil Company Act , which was trading at the Oil Ministry that the company 's shares are each Iraqi citizen is not sold or inherited, and the distribution of the company 's profits between shareholders (citizens) evenly. As apractical matter , we must enact the law waives the people whereby some of its share of oil and gas revenues to the government. And able people through the legislature amended the law to increase or decrease. People also owned by the legislature toapprove the imposition of certain taxes on the share of each citizen through the annual budget and give the federal, regional and local governments , the law of the validity ofthe meeting what they offer him Governments of the services and security and other matters prescribed by the Constitution and laws. For the purpose of discussion we suggest, may enact majoring in law where 50 percent of its oil and gas revenues to theIraqi state budget, and the remainder is distributed equally among all citizens ,neighborhoods, residents in Iraq. In the budget law consists of state resources from various budget sources in addition to: 1-50 percent of oil revenues and be within ayear. Act 2 - Tax determine the annual share of every citizen of the oil resources of thebudget law, and could change the tax each year ratio as needed in the budget public, annual. example: If we assume that Iraq 's exports of petroleum and petroleum products and gas equivalent to three million barrels per day, and that the price of oil , the source of 50 dollars per barrel, the Iraq 's revenues from these exports will be around 54 billion dollars a year. The 27 billion dollars of which will go directly to the State under the law. If we assume that the House of Representatives agreed to impose a tax on the share ofeach individual oil rose (50 percent), the budget will get a tax source of oil last amount (13.5) billion dollars and the same goes directly to the citizens equally. If we assume that the Iraqi citizens residing in Iraq are the 30 million citizens, the share of every citizen of (1,800) dollars a year go of them (50 percent) to the State under the Act, ie ,(900) dollars. The state collects from the remainder of the annual budget law (450) dollars from each individual. It remains the amount per capita cash income of 450 dollars for that year filed to him in a special account. If we assume that the family rate in Iraq is (6) persons, the annual family income rate will be 2,700 dollars a year , or (225.5) dollars per month. Should be accompanied by such a procedure to cancel the various types of subsidies on petroleum products and on the ration card and electricity and other and it requires that: ( a) pricing of crude oil consumed locally on everyone 's export price (less a discount of $ 10. per barrel , for example , the consumption of procedure).This will add to oil sales of about eight billion dollars, of which goes (6) billion dollars to the budget and (2) billion added to the share of the citizen. This adds about 70 dollars ayear per citizen to share oil revenues from the sold internally. ( B ) still balancing theelectricity of support (5-7) billion dollars annually. C- canceled ration card daughter (4-6) billion dollars. Benefit budget of 6 billion dollars from the elimination of subsidies foroil products, and about 6 billion for electricity to support about 5 billion dollars from thecancellation of the ration card for a total of $ 17 billion for the budget. current social welfare programs continue to gradually raise with every increase in oil and gas revenues (either increase prices or export volumes) until its complete abolition when universal basic income exceeds (Universal Basic Income) poverty level of about $ 1.5 per day limit, or about $ 550 per person per year, the equivalent of $ 3.285 per year for a family consisting of six individuals. the application can this level of direct distribution of basic income above the poverty line when they go beyond the oil and gas revenues (50) billion dollars annually. this difference is greater than the amount that was distributed directly among citizens equally and caused a shortage of budget revenues of $ (13.5) Billion dollar. This process is in the re - distribution of GDP achieved social justice and raised who are below the poverty line to above the poverty line, and allowed for the budget more resources than take them. It is important in all of this is to achieve several objectives , including: ( a) the restoration of sovereignty to the people as the right holder in the oil and gas resources. And turns citizen of parasite subsisted on the largesse of the rentier government to master decides what he deserves ruling for the services provided to citizens , which, turns populist conflict of conflict over quotas rentier (rent-seeking) that people say: «not taxed without representation» (No taxatinon without representation), and the move from dictatorship rentier state to a democratic state collection. ( b ) remove distortions in economic allocations caused by subsidized prices.C- given flexibility through the common law and the annual budget in the annual budget allocations, and performance monitoring efficiency in providing services and security. w - the achievement of social justice to re - GDP distribution (GDP) and the elimination of poverty and an end to physical destitution of the entire community. ( c ) remove the most important sources of rampant corruption in the country through support programs and departments sunken corruption on the poor citizen 's account. * Deputy economic Researcher[/rtl]

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Economic reform in Iraq

Economic reform in Iraq

Economic reform in Iraq

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