[size=36]Sudanese advisor: The government program addresses the unilateralism of the economy and the almost absolute dominance of oil[/size]
Economie| 11:08 - 12/31/2022
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Baghdad - Mawazine News
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified, on Saturday, two directions for the essential features drawn by the government curriculum, and while calling for a reconsideration of activating the national strategy for the advancement of the private sector, he stressed that the government program addresses the unilateralism of the economy and the almost absolute dominance of oil.
Salih said in an interview with the official news agency, followed by Mawazine News, that "the essential features drawn by the government curriculum, which was approved by Parliament in October 2022, are moving in two directions within the scope of addressing the unilateralism of the economy and the almost absolute dominance of oil over the conduct of economic life in Iraq."
He added, "The first trend is represented in the field of public finance, which looks forward to the percentage of the contribution of oil revenues to total public revenues gradually falling from 93% to 80%, which requires accuracy and speed in obtaining public finances for smuggled tax assets, in addition to the availability of supportive policies for private activities that It contributes to maximizing levels of individual income and gross domestic product in general, and is the source of tax bases supporting public finances from non-oil revenues.
He pointed out that "the second trend is to actively spread the role of development funds funded by oil revenues, which the government program referred to in order to provide concessional financing that encourages development in the activities that the private sector contributes to its advancement, especially industrial, service, digital and agricultural activities, in a way that guarantees economic diversification." Gradually, the national economy will be freed from the bondage of oil unilateralism.
He continued: “I believe that it is necessary to reconsider the activation of the national strategy for the advancement of the private sector, which was adopted years ago, to ensure an increase in the contribution of civil activity to the gross domestic product, and to lift the productive private sector from its current situation, whose contribution to the annual national product does not exceed 35% to become 53%.” % during the stages of economic development, particularly in the current decade, provided that this strategy guarantees the reduction of unemployment and its rates from its current levels of two decimal places to become one decimal place at the acceptable natural fraction of unemployment in Iraq, which does not exceed 3% of the total economically active population or the total planned labor force or desirable. Ended 29/N33
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified, on Saturday, two directions for the essential features drawn by the government curriculum, and while calling for a reconsideration of activating the national strategy for the advancement of the private sector, he stressed that the government program addresses the unilateralism of the economy and the almost absolute dominance of oil.
Salih said in an interview with the official news agency, followed by Mawazine News, that "the essential features drawn by the government curriculum, which was approved by Parliament in October 2022, are moving in two directions within the scope of addressing the unilateralism of the economy and the almost absolute dominance of oil over the conduct of economic life in Iraq."
He added, "The first trend is represented in the field of public finance, which looks forward to the percentage of the contribution of oil revenues to total public revenues gradually falling from 93% to 80%, which requires accuracy and speed in obtaining public finances for smuggled tax assets, in addition to the availability of supportive policies for private activities that It contributes to maximizing levels of individual income and gross domestic product in general, and is the source of tax bases supporting public finances from non-oil revenues.
He pointed out that "the second trend is to actively spread the role of development funds funded by oil revenues, which the government program referred to in order to provide concessional financing that encourages development in the activities that the private sector contributes to its advancement, especially industrial, service, digital and agricultural activities, in a way that guarantees economic diversification." Gradually, the national economy will be freed from the bondage of oil unilateralism.
He continued: “I believe that it is necessary to reconsider the activation of the national strategy for the advancement of the private sector, which was adopted years ago, to ensure an increase in the contribution of civil activity to the gross domestic product, and to lift the productive private sector from its current situation, whose contribution to the annual national product does not exceed 35% to become 53%.” % during the stages of economic development, particularly in the current decade, provided that this strategy guarantees the reduction of unemployment and its rates from its current levels of two decimal places to become one decimal place at the acceptable natural fraction of unemployment in Iraq, which does not exceed 3% of the total economically active population or the total planned labor force or desirable. Ended 29/N33
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