Home
A road map to reformulate the economic approach
09/4/2018 12:00 am [rtl]Proposed Reform Program Samir Al Nusairi * After a few days, the campaigns of candidates for the elections will begin and the blocs and parties will compete with their political and economic programs. The candidate is supposed to choose his candidate based on the achievements and achievements of Iraq and his people. Therefore, as a specialist in economic and banking affairs. For the economic reform during the next election session, after the election results, the candidates proposed the following reform program: economic reality In light of the political, security and economic conditions that our country is currently experiencing, especially the dire economic reality and the economic and financial crisis which have had a clear impact on the implementation of the plans of the government and the private sector to contribute to economic development, as this crisis causes and implications of current and future due to the sudden drop in oil prices in the market Which constitutes 60% of the GDP and 95% of the annual revenues in the public budget and the inability to create new economic resources and weak planning. Sadi. What concerns us is the Iraqi economy and what is new in it and the degrees of development and underdevelopment in its main rings and what are their implications for sustainable development? What is our economic strategy and post-election reform program? In order to achieve this, we propose the following: the general framework of the program • Draw up a road map at the strategic and progressive level to re-formulate the new economic approach to Iraq, which adopts the mechanisms of transition to a market economy • Activate the decisions reached by the expert committees formed in the Council of Ministers in 2015 for each sector of economic implementation of the road map for each economic sector, these decisions follow-up, monitoring and evaluation • the formation of a joint legal committee between the government and the private sector to re - drafting and amending and issuing new laws, and activating all laws issued and outstanding currently governing the economic process management and serve the application map externa Coordination , which is approved which all environmental laws governing legislative and manages the new Iraqi economy Bmenhjh. • Reconsidering all federations, associations and organizations formed by law or managed by internal regulations and establishing the Private Sector Council. The tasks of the Private Sector Development Strategy for the years (2030-2014) will be based on a purely Iraqi experience that is consistent with all of Iraq's core of awareness, culture, The Mashreq, which we see with optimistic eyes and work according to the principle of (we disagree in politics and unite the economy) because the people do not achieve their well-being, happiness and prosperous future without a strong national economy contributes to the construction of all and the foundations of this construction is available in Iraq. The proposed economic reform program First: Review, evaluate and reconstruct the structural and institutional system of the economy according to the following: 1- The establishment of the Supreme Economic Council is linked to the Council of Ministers with the participation of a wide range of government experts and experts in the private sector. It includes experts, specialists and independent technocrats. The Council undertakes the strategic planning of the economy, defining the executive policies, monitoring and monitoring the implementation of future development plans and visions. and its decisions are binding effect after the cabinet approval, and shall supervise and follow up the following national economic institutions: - 2 - national Provident Fund 3 - The Supreme Committee for the import, export and investment 4 - Sndo National Reconstruction 5 - Support Committee and the National Production Protection 6 - Small and Medium Enterprise Development Foundation 7 - Public Service Board Second: Re-review and evaluate the applications of the financial and monetary policies despite the initiative of the Central Bank of Iraq to prepare and launch its strategy for the years 2016-2020, which included the main objectives and sub-financial stability and monetary development and the development of the banking system in accordance with new mechanisms and work points and achieved a large part during 2016 2017 and recovery And improved the international credit rating for Iraq and the application of monetary policy on the right track. But this does not prevent the Central Bank as priorities as follows: • The Central Bank and the Ministry of Finance analyze the current and expected financial position of the banks (2018-2022) and determine the actual need for liquidity to maintain the cash circulation in the Iraqi market and activate the economic cycle in all areas and develop a proactive plan to prevent bankruptcy and collapse of some banks and maintaining the wheel of banking under the circumstances And the use of new mechanisms and instruments for monetary policy applications to enhance financial inclusion. • The current banking financing structure is plagued by many failures and obstacles. In order to increase the credit and total financing of banks and to activate their contribution to various investment aspects and reconstruction and to push the development process and move the economic cycle in Iraq, we see as a serious step is to reconsider the policy of lending and bank financing and activating the maximization of financing private projects As a social and economic objective of special priority and urgent and that the Central Bank of Iraq has an effective supervisory and supervisory role. • Amend the economic legislation in Iraq, which regulates the economic and banking work in order to promote the economic and banking reality, in particular the Banking Law No. 94 of 2004, the Companies Registration Law No. 21 of 1997 and the Iraqi Market Law No. 74 of 2004 and the Investment Law No. 13 of 2006. And activating the law of partnership between the public sector and the private sector. • Issuing the SME law to help create new job opportunities, reduce poverty and destitution, contribute to economic and social development plans, and reduce unemployment. • Activate the role of government banks, specialized banks and private banks to provide soft loans to the national private sector as well as find solutions to the problems of taxes and accrued interest that resulted from the owners of projects suspended production. • Reviewing the executive regulations and guidelines for the application of monetary policy and setting up a prudent regulatory system to follow up implementation, especially regarding the external transfer and sale window of the currency supervised by the Central Bank of Iraq and the development of new mechanisms with regard to foreign transfer and documentary credits. The implementation of the procurement curriculum for the government and private sector, which should be prepared by the Ministry of Commerce in light of estimates of consumer need. • Securing legal and technical requirements for large-scale coordination between state banks and private banks, as well as taking quick steps to structure the Rafidain and Rashid banks, unify the specialized banks of the Bank for Development and Investment and manage market economy mechanisms. On the other hand, the development of the Iraqi banking payments system and its modernization and the organization of financial and monetary trading in accordance with the latest electronic banking systems applied in the countries of the world. • Review, evaluate and reclassify banks in accordance with the standards of efficiency of performance and activity by adopting international standards based on the process of auditing and evaluation accounting institutions neutral international certified and under the supervision of the Central Bank of Iraq. That the integration of banking specific foundations and means to address the problems and obstacles to work in the banking sector and transition from the role of exchange to the developmental role. Advisor to the Association of Iraqi Private Banks[/rtl] [rtl][You must be registered and logged in to see this link.][/rtl] |
» utube 11/9/2 MM&C News Reporting-Sudani Art IV IMF-Port Faw Open-CBI Governor-No Room for Tw
» Finance Committee discusses revenue enhancement and investment budget allocations with governors
» His advisor: Al-Sudani's visit to Kurdistan focuses on these files
» Al-Tamimi explains the importance of the real estate return law
» MP: The administrative capital is a project under study and 2025 is the decision date
» Parliamentary Planning: Al-Sudani's government has not achieved what it pledged in its program
» MP: Baghdad has started funding the governorates to complete their projects
» Al-Haboubi: The Riyadh Summit ignored the most important item that would force the entity to stop th
» Foreign remittance sales increase by 99% at Central Bank auction
» Trade Bank of Iraq clarifies interest rates on its loans in 5 areas
» Iraq prepares to launch a group of investments worth a quarter of a trillion dollars
» Bitcoin Approaches $90,000 for the First Time Ever
» Minister of Electricity directs investigation into high electricity bills
» Iraqi Ministry Approves Contract Fixing
» Iraq prepares investment portfolio to attract $250 billion in two years
» What is the cost of the population census in Iraq?
» Parliamentary Finance Committee discusses investment budget allocations with a number of governors
» President of the Republic: Iraq is fulfilling its obligations under the climate agreement
» The position of truth
» The government places achieving development among the priorities of the 2025 budget
» Next Thursday .. Planning begins the first step of the census
» The utility of the population census
» Iraq needs to address funding issues
» The risk of oil supply disruption has receded.
» Parliamentary Finance Committee discusses with a number of governors the allocations of the investme
» Integrity: Two new rulings issued against the director of a government bank in Diyala
» Federal Ministry of Finance returns payrolls of regional employees due to technical problems
» Iraqi analysis of the results of the "Riyadh Summit": Ink on paper and will not change anything in r
» Finance Ministry approves the establishment of all contracts in justice institutions
» In various fields.. Preparations to launch a group of "unprecedented" investments in Iraq
» Al-Sudani's advisor announces US Treasury support mechanisms for Iraq
» Indomie and dollar smuggling: Has fast food become a cover for currency smuggling from Iraq?
» Including personal status.. Former MP: Parliament will resume work next Saturday to pass laws
» Politician: America has put Iraq at its mercy and controls all its imports
» “Political” Interventions in Nineveh Education... Transferring Staff and Appointing “Contractors” as
» Al-Sudani at the Riyadh Summit... and American messages may be passed to Tehran via Baghdad
» Is the Grand Faw Port Iraq's gateway to global trade?
» After extending its legislative term... Why has Parliament not held any session yet?
» Karrada bids farewell to its trees: Road expansion sparks controversy over the future of the environ
» Victory Coalition talks about the outbreak of a “war of leaks” and reveals an external breach
» Al-Mashhadani confirms to the US Ambassador the importance of resolving the security agreement file
» Al-Sudani: Iraq strongly renews its initiative to establish an Arab and Islamic fund
» Al-Khazaali: The importance of activating cooperation mechanisms between Iraq and Azerbaijan in the
» Al-Araji and Salami discuss details of joint security agreement and border control between the two c
» Al-Sudani and Bin Salman stress the need to coordinate positions to stop the war and provide relief
» Parliamentary Finance: The government has started preparing the 2025 budget
» Al-Sudani to Bin Salman: We appreciate the efforts made by the Kingdom to hold the summit called for
» What did Iraq achieve in its meetings with the US Treasury, and did it succeed in controlling the sa
» Morning list of dollar exchange rates in Iraq
» Ziggurat of Aqar Quf.. A new step to choose Baghdad as the Arab Tourism Capital for the year 2025
» Notice regarding applying for the free scholarship channel for the medical group colleges
» After questions published on Alsumaria.. Planning sends a message to Iraqis: Don't worry
» Al-Mashhadani to the US Ambassador: The importance of resolving the security agreement file by the e
» Mr. Al-Hakim: We support the automation of government sectors to stimulate the economy and move prod
» Embezzlement of 570 million dinars from a bank in Babylon
» The housing dream is fading away: Are housing complexes only for the wealthy?
» Economist identifies main reason behind dollar's rise
» Al-Mutalibi: The Riyadh Summit is a preparation for the American project towards Palestine
» With the document.. The State Council completes the review of the law on the care of minors in Iraq
» Private banks' capital in Iraq increased by 7.3%
» Integrity Commission begins investigation into audio recording attributed to Al-Sudani's chief advis
» Among them is Iraq.. the country that bought the most gold in 10 years
» Ministerial team conducts field visits to local factories in Baghdad
» The truth about canceling a paragraph in the population census form in Iraq
» Iraq returns 7 Iranian trucks loaded with tomatoes
» New image of Iraq
» Automation to monitor the operation of government and private generators
» Lifting the ban on Iraqi ships next year
» Guaranteeing the rights of workers in the private education sector
» UN to Al-Sabah: The Iraqi government has made progress in the environmental file
» {Automation}.. A new procedure to monitor the operation of generators
» Tourism: Closure of more than 85 percent of violating companies
» Transport leads campaign to rehabilitate railway lines and locomotives
» Economic partnerships and investments in the real estate market in Sulaymaniyah
» Iraqi private sector accreditation
» Experts: Faw Port is Iraq's gateway to a global economic future
» Ihsan Al-Shammari: Trump's policy towards Iraq will differ from the Biden administration's... and th
» The Minister of Trade discusses with the Mayor of Baghdad the development of joint cooperation and t
» Bitcoin Price Surpasses $80,000 for the First Time
» Al-Sudani heads to Saudi Arabia to participate in the Arab and Islamic Summit
» Oil Minister discusses with Jordanian Ambassador in Baghdad joint cooperation between the two countr
» Revealing the content of Al-Araji’s visit to Tehran: Baghdad’s message for a new roadmap in the regi
» Al-Hindawi to Baghdad Today: All problems regarding the population census in the disputed areas have
» Agriculture says it has passed the stage of rising prices of vegetables and meat in Iraq
» {Automation}.. A new procedure to monitor the operation of generators
» Statement from the government on Iraq's participation in the Riyadh Summit
» Iraq calls on Türkiye to rebuild Mosul
» The leaks crisis “gets more complicated” and the government complains of “targeting”.. Al-Sudani’s c
» Ministry of Oil: Oil Products Distribution Company continues to develop government fuel filling stat
» Parliamentarian reveals the component that rejects passing the “Real Estate Return” law in its curre
» Parliamentarian: Basra-Aqaba pipeline paves the way for normalization
» Nechirvan Barzani's attendance at Baku summit strengthens Kurdistan's position as a destination for
» In Tehran, Iraqi National Security Adviser Discusses “Widespread Conflict” with Iranian Foreign Mini
» “Indomie” in Iraq: A popular dish or a dollar smuggling?
» Parliamentary move to question the governor of the Central Bank of Iraq
» The Democratic Party reveals the reasons for delaying the formation of the regional government
» Framework “worried” about Trump’s backtracking on withdrawing US troops from Iraq
» The President of the Republic heads to Azerbaijan tomorrow to participate in the Climate Conference