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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Mazhar Muhammad Salih: The government intends to reduce dependence on oil to 80%

    Rocky
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    Mazhar Muhammad Salih: The government intends to reduce dependence on oil to 80% Empty Mazhar Muhammad Salih: The government intends to reduce dependence on oil to 80%

    Post by Rocky Sat 31 Dec 2022, 4:40 am

    Mazhar Muhammad Salih: The government intends to reduce dependence on oil to 80%

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    Economy News-Baghdad
    Today, Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified two directions for the essential features drawn by the government curriculum, and while calling for a review 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 told the Iraqi News Agency, "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%. In maximizing the levels of individual income and gross domestic product in general, which 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.

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    Added 12/31/2022 - 11:20 AM
    Updated 12/31/2022 - 1:39 PM
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