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Iraqi economy needs to be a real restructuring
26/12/2016 0:00
[rtl]Because of the failure of the budget enabled this
BAGHDAD / Suha Shaykhli
Operated doors of the budget in 2017 the majority of the society, especially the staff of them pensioners groups, especially after the intensified deductions from their salaries, which exceeded the rate of 3 percent, but those fears abated after the increase in the price of a barrel of crude oil, and the question is, will remain Iraq's budget will depend on oil prices global? Or is it will depend diversify resources of the non-oil productive sectors.
Member of the Baghdad Economic Forum D.akram Abdul Aziz said that the problem of the Iraqi economy is limited to the failure to diversify sources of income and that absolute reliance on oil and therefore the latter is a commodity subject to political considerations and economic changes by virtue of the fluctuation of foreign demand
them.
She added in an interview with «morning», that Iraq is structured economic lacks diversity translates congestive economic blood or resource to the productive sectors of the various activities and the consequences of the rule of the oil sector to GDP in light of the limited output of the commodity and service activities, and Athrip about aspects of
Aiardih .
She stressed Abdul Aziz said the economic diversification of the items are not only giving a lead and holistic role of the private sector on the one hand and to strengthen its role as an economic partner with the public sector and therefore this budget, in fact, according to the LCB, read as balancing security and peace in that there is a trend noticeable to spend on education, health and services and the ration card which will hopefully restructured and diversity to serve the target population and that the administration really be technical management and are subject to the supervision of a professional field and to serve the purposes that have been adopted through it .
According to the budget law passed a few weeks ago, the "amount of the budget is 100 trillion and 671 billion dinars, monitoring more than 25 Trliuna and 454 billion dinars for capital spending and more than 75 Trliuna and 200 billion dinars for the operational expenses by the amount a deficit of more than 21 trillion dinars on the basis of the average price $ 42 per barrel of oil at a rate of export of three million and 750 thousand barrels per day. "
She noted that according to the structure of the budget unilaterally finance the limited revenue and is facing a surge in public spending dramatically and at the expense of investment expenditure, When are ongoing is the biggest Overall, those expenses from 2004 to 2016 fluctuated depending on the size of the deficit expected to reach in 2016 (22.4 percent) of the total investment expenditure. The challenges of 2017 budget and followed Abdul Aziz , saying :, under increasing pressures facing the country to defeat terrorism and to secure salaries and obligations to the displaced and the face of the debt, the large deficit, and a simple comparison there is to miss a great opportunity for Iraq , it was exploited before 2013 , as it witnessed the increasing volume of revenue oil that could serve the country for many years to secure projects and services and infrastructure. The country has witnessed after the 2003 confusion evident in the implementation of production and service projects funded by the State where there were not accomplish ratios integrated annual target plans. And it showed Abdul Aziz about all of the above, the problem has not changed unless it is oriented toward restoring a real restructuring of the economy, restructuring the renewed income and diversity of sources and making there is the budget , including not harm the citizen when the state resorts to increase and diversify the taxes and fees , and so in the current economic situation in which we live. The government heads to adopt mechanisms to maximize tax resources through activating the concerned institutions to meet the tax chock legal form. She stressed the need to begin a genuine and thoughtful address to reduce the growing deficit and mitigate internal and external borrowing , along with the risks that can be exposed to the country upon repayment of external obligations without real Aiardih outlets meet the need and covers the suffering of the Iraq confront and defeat terrorism.[/rtl]
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