Home
Economic performance in the development of Iraq did not materialize and the time lost a lot from him
26/08/2014 (00:01 pm)
Mohammad Reza Sinan Shabibi
In the economy we face an economic problem at the individual level and at the community level. The problem is that these multiple needs, and resources for these needs is limited. Because resources are limited, we must choose needs that must be saturation. Iraq must satisfy the needs of social and economic but many resources, whether financial or human negatively affected by war and the siege and the loss of opportunities for growth .oadh that Iraq has become a facing problem to choose among the needs which are in fact represent economic objectives in different sectors at home and abroad.
The circumstances of evolution and the big problems worked to narrow the choices I greet you find it difficult to identify these choices, and that should satisfy the needs of the shortest time possible because of missed opportunities on the individual and the Iraqi society. This means that the time is considered an important economic variable, and therefore is reduced to a primary goal.
On this basis, the economy should grow at a rapid pace and the Iraqi depending on Mayati:
- To be efficiency in the allocation of resources, high production, using the methods of the market in determining that except for projects that carry a social nature, where government plays an important role in this area. Also, the state played an important role in the early stages of growth as a driving force for the development process.
- That are characterized by savings and investment rates, including a rise of foreign investment and until it is activated it must be realized that the country's high degree of economic and social stability and political.
- The states that want to enjoy rapid growth must be to have a high flexibility in receiving and conditioning of new technology and cutting-edge.
These characteristics must be available in order to achieve a time of rapid economic growth, which is faster. These characteristics require the development of an enabling environment in order to proceed, and what the most important characteristic of this environment is to provide economic and political stability. In terms of the economic environment, it is playing by the monetary policy and the central bank an important role on the grounds that his main goal, and the first is to achieve economic stability based on the achievement of price stability and financial stability, which is essential for financial intermediation and creating a stable environment in this area.
It is clear that the reasons for the failure of the Iraqi economy is its inability to implement projects of national development plans and the predominance of ideological frameworks and the impact on the formulation and implementation of plans. It was one of the most important reasons for the low total production in general, and the conditions of war and the siege was one of the main reasons to be in Iraq's external debt at the beginning of the eighties of the last century and the impact on the future development of the country. We have focused the previous administration of the Bank and the Ministry of Finance to address the debt to achieve economic stability. Although the treatment of debt in its character developmentally except that the main objective of this treatment is to relieve the burden on the balance of payments.
In this area has been an agreement in the Paris Club debt (by Finance Minister Adel Abdul-Mahdi), which paved the way for contract agreements with the International Monetary Fund.
The Iraqi debt, which was presented to the Paris Club amounted to 120 billion dollars in January of 2004 the club has decided to drop the 80% of them. This is the highest percentage obtained by the city-state middle-income countries such as Iraq. The reduction ratio or high projection this grant for low-income developing countries. On the other hand, the stages of cancellation may were in line on the whole with the various programs of the IMF, Valelghae first was 30% at the signing of the Paris Club agreement in November 2004 and the abolition of the second, which reached 30% also was in the January 23, 2005 when an agreement was signed SBA with the Fund. The abolition of the third and final which amounted to 20% has coincided with the Convention to prepare the second with the Fund in November 2008, and so there is a close correlation between the Convention on the International Monetary Fund and the Paris Club agreements, success in the negotiations with the Fund requires to be negotiating very well in the Paris Club.
With regard to the characteristics of the Fund's programs, which began in September of 2004 and the Convention on the standby credit expired in 2011, they have contributed to the lifting of restrictions on trade and payments as they focused on the stability of the exchange rate did not allow multiple exchange rates. In order to stabilize the exchange rate policy, the key is that the interview take place every demand for foreign currency in the case of insufficient foreign currency reserves, and if were not enough foreign currency, the dinar exchange rate will fall.
Although the central bank has achieved great success in the stability of the exchange rate which is the main goal, but the rest of the sectors of the economy did not benefit from the stability, provided by the Bank and this product is not a problem for the central bank, but the problem is the susceptibility of investment in the private sector. The banks that received the foreign currency were not active enough in lending. But used the funds in the deposit abroad where adequate security is not available at home.
The central bank has succeeded in the process of providing foreign currency but the economy as a whole has been unable to invest these positive achievements due to the difficulty of economic decision-making and the reluctance to implement the projects. This delays both in decision-making or implementation led to the obstruction of development, which in turn led to the loss of time for the community and the complexity of the development process and increase their costs and on this we can say that at the time succeeded in the financial sector, the real sector has not received similar success.
Thus, compared to the relative success in the financial sector, the efficiency in the implementation of projects on the physical level was limited only to the loss of Iraq also resulted from wars and economic blockade, it is added to the instability and security collapses after 2003.
The time which resulted in lost productivity to be on the low level of the economy in general, the world is adopting new methods of Iraq was not able to keep up. Even after 2003, we lost more than ten years have not been achieved, especially where real development because of political instability. Thus, we passed the time became the cost of reconstruction and development, which is the biggest missed opportunities in the development of many of Iraq. When it is clear to us that the time is limited, the productivity and efficiency gains very great importance to achieve our goals of social and economic. You may clear to us that the time available indefinitely, but when compared to the goals we want to attain it, it certainly remains limited. The lag in the implementation of development projects and increases the time that we need, which is contributing to the slowdown in growth rates.
It is important to accommodate the importance of time, particularly as the previous period has been lost in terms of economic and productivity, and we now need to greater efforts and higher efficiency. At a time when they recorded Japan and Germany, a big jump over the past decade after the Second World War, we see that the past similar for Iraq marked the delay, which will increase the cost of development. As the reason for the delay in growth due to political factors, because of political instability and economic factors due to delayed implementation of investment programs.
[You must be registered and logged in to see this link.]
--
26/08/2014 (00:01 pm)
Mohammad Reza Sinan Shabibi
In the economy we face an economic problem at the individual level and at the community level. The problem is that these multiple needs, and resources for these needs is limited. Because resources are limited, we must choose needs that must be saturation. Iraq must satisfy the needs of social and economic but many resources, whether financial or human negatively affected by war and the siege and the loss of opportunities for growth .oadh that Iraq has become a facing problem to choose among the needs which are in fact represent economic objectives in different sectors at home and abroad.
The circumstances of evolution and the big problems worked to narrow the choices I greet you find it difficult to identify these choices, and that should satisfy the needs of the shortest time possible because of missed opportunities on the individual and the Iraqi society. This means that the time is considered an important economic variable, and therefore is reduced to a primary goal.
On this basis, the economy should grow at a rapid pace and the Iraqi depending on Mayati:
- To be efficiency in the allocation of resources, high production, using the methods of the market in determining that except for projects that carry a social nature, where government plays an important role in this area. Also, the state played an important role in the early stages of growth as a driving force for the development process.
- That are characterized by savings and investment rates, including a rise of foreign investment and until it is activated it must be realized that the country's high degree of economic and social stability and political.
- The states that want to enjoy rapid growth must be to have a high flexibility in receiving and conditioning of new technology and cutting-edge.
These characteristics must be available in order to achieve a time of rapid economic growth, which is faster. These characteristics require the development of an enabling environment in order to proceed, and what the most important characteristic of this environment is to provide economic and political stability. In terms of the economic environment, it is playing by the monetary policy and the central bank an important role on the grounds that his main goal, and the first is to achieve economic stability based on the achievement of price stability and financial stability, which is essential for financial intermediation and creating a stable environment in this area.
It is clear that the reasons for the failure of the Iraqi economy is its inability to implement projects of national development plans and the predominance of ideological frameworks and the impact on the formulation and implementation of plans. It was one of the most important reasons for the low total production in general, and the conditions of war and the siege was one of the main reasons to be in Iraq's external debt at the beginning of the eighties of the last century and the impact on the future development of the country. We have focused the previous administration of the Bank and the Ministry of Finance to address the debt to achieve economic stability. Although the treatment of debt in its character developmentally except that the main objective of this treatment is to relieve the burden on the balance of payments.
In this area has been an agreement in the Paris Club debt (by Finance Minister Adel Abdul-Mahdi), which paved the way for contract agreements with the International Monetary Fund.
The Iraqi debt, which was presented to the Paris Club amounted to 120 billion dollars in January of 2004 the club has decided to drop the 80% of them. This is the highest percentage obtained by the city-state middle-income countries such as Iraq. The reduction ratio or high projection this grant for low-income developing countries. On the other hand, the stages of cancellation may were in line on the whole with the various programs of the IMF, Valelghae first was 30% at the signing of the Paris Club agreement in November 2004 and the abolition of the second, which reached 30% also was in the January 23, 2005 when an agreement was signed SBA with the Fund. The abolition of the third and final which amounted to 20% has coincided with the Convention to prepare the second with the Fund in November 2008, and so there is a close correlation between the Convention on the International Monetary Fund and the Paris Club agreements, success in the negotiations with the Fund requires to be negotiating very well in the Paris Club.
With regard to the characteristics of the Fund's programs, which began in September of 2004 and the Convention on the standby credit expired in 2011, they have contributed to the lifting of restrictions on trade and payments as they focused on the stability of the exchange rate did not allow multiple exchange rates. In order to stabilize the exchange rate policy, the key is that the interview take place every demand for foreign currency in the case of insufficient foreign currency reserves, and if were not enough foreign currency, the dinar exchange rate will fall.
Although the central bank has achieved great success in the stability of the exchange rate which is the main goal, but the rest of the sectors of the economy did not benefit from the stability, provided by the Bank and this product is not a problem for the central bank, but the problem is the susceptibility of investment in the private sector. The banks that received the foreign currency were not active enough in lending. But used the funds in the deposit abroad where adequate security is not available at home.
The central bank has succeeded in the process of providing foreign currency but the economy as a whole has been unable to invest these positive achievements due to the difficulty of economic decision-making and the reluctance to implement the projects. This delays both in decision-making or implementation led to the obstruction of development, which in turn led to the loss of time for the community and the complexity of the development process and increase their costs and on this we can say that at the time succeeded in the financial sector, the real sector has not received similar success.
Thus, compared to the relative success in the financial sector, the efficiency in the implementation of projects on the physical level was limited only to the loss of Iraq also resulted from wars and economic blockade, it is added to the instability and security collapses after 2003.
The time which resulted in lost productivity to be on the low level of the economy in general, the world is adopting new methods of Iraq was not able to keep up. Even after 2003, we lost more than ten years have not been achieved, especially where real development because of political instability. Thus, we passed the time became the cost of reconstruction and development, which is the biggest missed opportunities in the development of many of Iraq. When it is clear to us that the time is limited, the productivity and efficiency gains very great importance to achieve our goals of social and economic. You may clear to us that the time available indefinitely, but when compared to the goals we want to attain it, it certainly remains limited. The lag in the implementation of development projects and increases the time that we need, which is contributing to the slowdown in growth rates.
It is important to accommodate the importance of time, particularly as the previous period has been lost in terms of economic and productivity, and we now need to greater efforts and higher efficiency. At a time when they recorded Japan and Germany, a big jump over the past decade after the Second World War, we see that the past similar for Iraq marked the delay, which will increase the cost of development. As the reason for the delay in growth due to political factors, because of political instability and economic factors due to delayed implementation of investment programs.
[You must be registered and logged in to see this link.]
--
» utube 11/5/24 MM&C MM&C News Report-ICC-Investors-RIYADA BANK-Port of Faw-3 Presidents Seated-Removi
» Foreign Minister warns of major and dangerous economic repercussions
» Roadmap for Reform
» Government reshuffle looms over Al-Sudani’s cabinet.. The compass of change is heading towards 4 min
» Parliamentary move to legalize foreign labor in Basra
» Parliament intends to amend the retirement law and return the service age to 63 years
» Parliamentary move to question a senior official and complete procedures against the Minister of Com
» Legal expert explains the mechanism for forming the Kurdistan Regional Government
» Silk Road imposes a state of maximum alert suddenly
» Sheikh Raouf: There is an urgent need to find a constructive, corrective opposition in Kurdistan
» Green light from Baghdad to build the first waste recycling plant in eastern Iraq
» MP: Al-Mashhadani discussed 3 important files with parliamentary blocs
» MP: Al-Mashhadani's election will not affect the completion of legislation
» Parliamentary Oil: Investment in associated gas in fields exceeds 60%
» IMF: Foreign investment outperforms sovereign funds in generating growth in Gulf
» Categories exempted from the curfew in the population census.. Get to know them
» Kurdish investment trend in central and southern Iraq.. What are the reasons?
» Iraq exports more than 6 million barrels of oil to America in a month
» The Private Banks Association supports the Prime Minister’s directives to localize private sector em
» Parliamentary confirmation to support financial oversight in combating corruption
» Next Sunday.. Celebrating Baghdad Day
» Sayyid Sistani's commandments
» New services for health insurance subscribers
» Al-Sudani directs ministries to leave (cash)
» Mr. Sistani sets a roadmap for Iraq’s prosperity
» OPEC+ postpones production increase
» Government Advisor to {Sabah}: Turkish companies’ expertise has given them importance in implementin
» The future of smart cities in Iraq is on the table for discussion
» Expectations of achieving agricultural self-sufficiency within 3-5 years
» Ministry of Agriculture: Launches the Electronic Inquiry System Service
» Electricity contract employees demonstrate in Maysan to demand permanent employment
» The Council of Ministers holds its regular session headed by Al-Sudani
» Iraqi oil exports to America amounted to more than 6 million barrels during the past month
» Launching the major national campaign to raise awareness of the Social Security Law
» Private Banks Association: We support the Prime Minister’s directives to localize private sector emp
» Parliamentary Committee: The Social Security Fund has become sovereign and the legislation of the la
» Britain launches programme inside Iraq to combat 'Kurdish human trafficking gangs' in France
» Warnings of delay in forming the regional government: will push regional and international parties t
» Dollar prices rise again in Baghdad Stock Exchange and Exchanges
» Al-Sudani praises the assistance provided by the United Nations mission to Iraq in facing challenges
» The Private Banks Association announces its support for Al-Sudani’s approach to localizing private s
» Interior: We have achieved a very significant decrease in crime rates across the country
» The Private Banks Association announces its support for Al-Sudani’s approach to localizing private s
» Iraq, Saudi Arabia sign MoU for military cooperation, boost bilateral ties
» Transportation: Direct flights to 4 global cities
» Prime Minister stresses importance of Mr. Sistani's diagnosis of Iraq's needs
» “To enhance national security”.. Parliamentary Committee: Intelligence Service Law is ready to be pr
» Optimism for a bountiful agricultural season.. Kurdistan Region records record high rainfall amounts
» Al-Sistani’s “Seven Commandments” occupy Iraqi politics.. A reading of the position of the authority
» As the date approaches, will Article 140 hinder the population census?
» Prime Minister directs unification of efforts in the Iraqi Media Network
» “Framework” coups with Sunni facades on the map of local governments in preparation for the 2025 ele
» Parliament intends to extend the legislative session for a month
» Difficult tests facing Parliament.. What are the scenarios for the remainder of the current session?
» Parliamentary Security: Iran will launch a new strike against “Israel” within a short period.. What
» Barzani to Romanowski: We have started negotiations to form the tenth government and no veto on any
» Al-Sudani directs the localization of private sector salaries and sets a date for the departure of c
» Bakhtiar Haji meets a delegation from the General Directorate of Civil Defense in the Kurdistan Regi
» New Cities Authority sets timeframes for project completion, reveals details of its services
» Oil announces completion of drilling and rehabilitating 15 wells during the past month
» Ministerial Council for Economy: Taking the necessary measures and decisions that contribute to mark
» Parliamentary Legal: There is a trend to extend the legislative term of Parliament
» What is the truth about extending the legislative term of the House of Representatives?
» The "Freedom of Demonstration" Law is Ready for Voting.. How Was It Amended?
» Mr. Al-Sadr on the US elections: It is shameful for an Arab to pin his hopes on a senile or insane p
» Laws stuck hostage to disputes between blocs
» Doubts after the decline in power supply at the beginning of each month.. Is there a deal between ge
» Integrity and the Financial Supervision Bureau agree to activate the cooperation agreement between t
» Al-Mashhadani faces 170 suspended laws.. Will they be approved or deported?
» Parliamentary demands to cancel the security agreement with Washington
» MP: Oil derivatives smuggling has decreased by 80% in Iraq
» After years of controversy, the Minority Protection Act is submitted for the first reading
» Al-Sayhoud: The ministerial reshuffle is useless for several reasons
» Iraqi government makes changes to the General Secretariat: Al-Juhaishi succeeds Al-Halbousi
» Extension of the legislative term of the Iraqi parliament for an additional month to pass laws
» Prime Minister: The necessity of strengthening Iraq's position to be at the forefront of the region'
» Parliamentary Transportation: We are determined to pass the Civil Aviation Authority Law
» Baghdad Council: Study of the reality of companies applying to implement projects
» Water Resources announces its control over the oil slick in the Tigris River
» Reconstruction: A new government vision for distributing serviced lands among those entitled to them
» Parliamentary Immigration Committee demands increasing the amount of the return grant
» Accreditation of specialized graduates to support quality control
» Heritage markets and buildings in Mosul after its reconstruction
» Specialized committee to ensure acceptance of cybersecurity outputs
» The Ministry of Interior issues mechanisms to regulate the work of private security companies
» Baghdad Council: Study of the reality of companies applying to implement projects
» Welcome to the trends of establishing an administrative capital
» Securities trade more than 88 billion shares
» Focus on the banking sector
» Imports and dependence on oil are obstacles to Iraq’s accession to the World Trade Organization
» Launch of the International Chamber of Commerce in Iraq
» Private sector and housing projects
» Sovereign guarantees... a trend that promotes national industries
» Development of tax policies and laws
» Basra Council reviews the mechanisms of the smart transformation system that the Ministry of Electri
» Against the backdrop of the rise in the best subscriptions...Nineveh Council: Fuel quotas for genera
» Trade: Launching the International Chamber of Commerce branch in Iraq
» Parliament.. A new political path under the leadership of President Mahmoud Al-Mashhadani