A third of state companies are idle and dependent on subsidies

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

[size=52]A third of state companies are idle and dependent on subsidies[/size]

[size=45]An economic expert said that more than a third of state companies are idle, pointing out that most of the landmarks of the private sector suffer from a complete halt in their work.[/size]
[size=45]Al-Ali said in a statement to (Al-Mada), that "the industrial sector in Iraq is suffering from a clear and significant deterioration, and the level of its contribution to the gross domestic product may be very low, as it represents 2.2% of the gross domestic product as an average for the past years, at a rate of less than 2 billion dollars annually.[/size]
[size=45]He explained, "Iraq owns in the public sector more than 90 companies affiliated with the ministries of industry, oil and electricity, which contain nearly 300 different factories and factories."[/size]
[size=45]Al-Ali pointed out that “a third of them are completely disabled, and the rest suffer from poor feasibility, and many government companies depend on government subsidies for their continuity.”[/size]
[size=45]He noted that "these companies do not contribute to the state's revenues, and they may not exceed one billion dollars annually (less than 1%) of the government's general budget."[/size]
[size=45]Al-Ali stressed that "the private industrial sector is suffering from another deterioration, with the absence of policies that try to support it or ensure its work and productivity."[/size]
[size=45]He stated, "Most of the factories and large industrial companies are almost idle, although they still exist, as we note their presence in the Iraq Stock Exchange."[/size]
[size=45]Al-Ali added, "Small companies and small industrial factories suffer from a near complete halt in Iraq in light of the continued import and open borders for cheap and low-priced Asian goods that the local industrial sector cannot keep up with."[/size]
[size=45]He pointed out that "in spite of this, there are some factories and companies that have been able to achieve impressive successes, such as the Union factory, which produces sugar and edible oil."[/size]
[size=45]He pointed out, "The outlets that are under the control of the federal authorities, which amount to 22 outlets, are currently open around the clock to facilitate the entry of foodstuffs to prevent price increases."[/size]
[size=45][You must be registered and logged in to see this link.]