Local markets experiencing a recession in the shopping and traders attribute it to pay the salaries

Local markets experiencing a recession in the shopping and traders attribute it to pay the salaries of staff early

Wednesday, October 06, 2 / November 2013 11:41







[Baghdad - where]



Local Iraqi markets are a significant recession these days in shopping and the lack of movement shoppers in this case traders attributed to government employees received their salaries early time.



The Ministry of Finance has decided on the thirtieth of September last pay the salaries of state employees before Eid al-Adha, which coincided with the middle of the month of October last year.



Said Abu Mohammed, one of the merchants in Shorja [the largest commercial centers in Baghdad] told all of Iraq [where] that "the market is recession remarkable days ago, especially after the exchange the government employees' salaries well in advance of the scheduled ahead of the Eid al-Adha, prompting citizens, especially of staff to turnout on the markets as usual after the receipt of their salaries to the purchasing office of food and consumer goods is reduced from the financial savings early and weaker than their purchasing power and this is what we have observed in the past few weeks of the purchase through the movement of their belongings Vanekst negatively on the movement of the markets during the past few days. "



He added that "this has become familiar to us after paydays early," adding, "but it hurt us as traders."



As Mariam Abdul Rahman admitted an employee in one of the weakness of their purchasing power ministries after paydays early time, saying, "Yes affected our financial liquidity after the receipt of a salary well in advance, especially We slice the staff who are the owners and often single income was flat."



Mary complained of high prices of goods in spite of the recession taking place in the markets.



For his part, attributed Mustafa punitive, an economist repeat this case, though a few to "weakness of the government's plans to keep the movement of the local market through the possibility of non-distribution of salaries to employees in a period of one month, which is often in the fourth quarter of it to maintain the sustainability movement purchasing seven days a month. "



He added that "this case also linked to the adoption of government plans for the development of single-resource is oil with great weakness and the absence of the role of the private sector, which will provide many job opportunities for the large number of unemployed."



The House of Representatives has rejected last Saturday of economic reform bill and decided to return it to the government for an amendment, as it has been approved in 13 of the last month of August on the bill and submit it to the Parliament.



It is said that this law is aimed at restructuring the Iraqi economy according to the principles of the modern economy and the requirements of the transition to a market economy.



According to economists, the foundation purpose of the law is the formation of the Council for Economic Reform, to be a tool of state and government in the leadership of the economic reform process in all its aspects and legislative and administrative requirements in all branches and sectors of the economy and finance. And the role of President of the Council also draws from his duties is to propose policies and monitor the implementation of policies and reform programs in place and coordination between the different actors of the devices state institutions, legislative and private sector institutions and between the levels and the various fields covered by the reform process, and to provide advisory support to develop and implement reform programs, and to prepare the necessary studies. Ended .


[You must be registered and logged in to see this link.]