The process of transfer of financial resources of the state to investments in human capital and financial assets for sustainable development to generate future income for future generations to ensure the success of the investment program linked to the achievement of increased production and oil revenues for its importance in the development of non-oil productive sectors .
According to the adviser of the Iraqi Institute for Economic Reform , Dr. Ahmed al-Husseini , the strategy of the federal budget 2014 - 2016 expects to increase the rate of production and export of Iraqi crude oil to 4.65 million barrels per day in 2016 . Noting in a statement to the (morning ) that these expectations were based on the implementation of the program investment associated with the successful oil licensing rounds and contracts with companies operating in Iraq .
Between Husseini and that according to these expectations , the expected rise in crude oil revenue source to more than 178 billion dinars in 2016 the price of a barrel of a precautionary $ 90 per barrel source.
Calling to convert a portion of the proceeds from the financial resources if the ratio ( 10 to 15 percent ) and derived from the production and export of natural resource depletion disposable assets to invest in human capital or assets of foreign financial future generate income for future generations and supporting sustainable development.
For his part, Dr. Essam academic economic Mahouelle he can not activate the non-oil productive sectors without the presence of a solid infrastructure is electrically powered .
He added in a statement ( morning) that the industrial sector can not stand up without electricity as fuel prices used by the owners of factories in the run generators adds cost the extra price Maintjonh of materials , what caused serious damage to the economy have to be borne by the country and offset the import of cheap and shoddy goods which can be produced locally .
He pointed out the need for a base of legislation assigned the private sector to support the policies included in the Constitution of the need to move to a market economy and to take the role of the private sector and the chance to contribute effectively to the economic development .
He stressed the importance of expediting the development of the energy sector because it is not reasonable nor acceptable to continue the deterioration of the reality of power in Iraq to more years , noting that planning for the future should start from now to enjoy the future generations a sense of well-being and enjoy the presence of continuous income after her direct the process of sustainable development it can be defined as the process of developing the land and cities and business , provided that meets the needs of the present without compromising the ability of future generations to meet their needs.
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