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Academic: The private sector achieves development and drives markets
04/10/2017 12:00 am [rtl] Baghdad / Imad Al-Amara The large allocations required by the investment during the past years and the results were below the level of ambition, as it requires new directions for the investment funds to the benefit of the national economy and thus seems an urgent need for sound planning leads to employ capabilities in a direction that enables the private sector to enter the development process and move The labor market to change the positive in the economic reality. The academic economist d. Ahmed Al-Rawi told Al-Sabah that, in practice, the private sector did not move towards productive branches of the economy, despite welcoming the state's support for it. He stressed that development is achieved by private investment in agriculture and manufacturing. However, private investment has always been guided by the criterion of profitability In its investment decisions. State support Al-Rawi explained that the private sector is guided by the final outcome of the price equation, which sells its agricultural and industrial products on the one hand, and the costs it incurs when producing these products on the other hand, as well as what it can get from state subsidies, , Subsidies at production or export and loans from government banks. The narrator pointed out that the currency exchange rates make its products competitive advantage in the domestic market, along with appropriate tax transactions for its capital and profits, make the production costs have as little as possible relative to the prices that can be sold by the products, and the profit rates that can be achieved when he employs his money In areas other than agriculture and manufacturing. Competitive advantage He explained that foreign exchange rates (dollar) and government trade policy have an opposite role for the private investment in the productive sector, noting that the exchange rates have been set at a level not only allow the domestic industry products any competitive advantage, but also to challenge the imported variety of goods not characterized by Its price but its quality. He added: Therefore, the policy of the Central Bank of Iraq to maintain the exchange rate is not in favor of investment in the agricultural sector or industrial, but to keep inflation within the desired limits of government through the influx of imported goods. It is noteworthy that the general economic policies of the government have been and are still going to empower the private sector of these subsidies, especially in the form of cheap energy and tax subsidies and soft loans, but these policies adopted by the government in support of the private sector, is now unable to provide because of The significant shortfall in energy production and financial distress experienced by Iraq, which may make them increase taxes and fees and the inability to provide liquidity for concessional lending. Encouraging development Narrator said: The general conclusion that leads to this analysis is that the opportunities for private investment in profitable productive sectors are not available for growth that promotes economic development, despite the existence of some forms of support. The narrator said that the general instability in the country led to the escape of the private capital of the national investment in neighboring countries and the loss of the Iraqi economy, the most important fields of investment represented by the private sector; and the circumstances prompted the private sector to direct its capital towards areas with more profitable return and risk and less productivity. [/rtl] [rtl][You must be registered and logged in to see this link.] [/rtl] |
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