Home
Experts: The Dutch disease can be treated with the will to create an ideal labor market
Economical 2023/02/27
[You must be registered and logged in to see this image.]
Baghdad: Hussein Thaghb Al-Tamimi
International and local economists called for saving the Iraqi economy from the phenomenon of the Dutch disease, which has been accompanying it for decades, without finding real solutions that would save the country from a state of continuous decline in all aspects of the economy. This would eliminate the Dutch disease and its repercussions.
Dutch disease is an economic term that broadly refers to the damage and consequences resulting from large increases in a country's income as a result of dependence on a single natural resource such as oil.
International economist Abdul Aziz Al-Khudairi said: “Salvation of Iraq from the Dutch disease and its consequences requires two basic strategies that can help solve the phenomenon of the Dutch disease; And this can be achieved sometimes by controlling the file of spending the revenues generated from the export of natural materials.” And Al-Khudairi indicated that “when a country discovers natural resources and begins to export them to the rest of the world, this causes the exchange rate of the local currency to rise significantly, and this in turn discourages exports.” from other sectors while encouraging the import of cheaper alternatives.It is reported that in the sixties, the Netherlands witnessed a significant increase in its wealth after large discoveries of natural gas in the North Sea, and unexpectedly, this positive development had serious effects on the Dutch economy, as the guilder (the currency of the Netherlands at that time) became stronger, which made exports Dutch non-oil is expensive, and therefore less competitive. He added: “The most common way to do this is to create a sovereign wealth fund. Many developed and developing countries, including Australia, Canada, Norway and Russia, run large sovereign wealth funds, and sovereign wealth funds aim to Stabilizing capital flows in the economy to prevent it from overheating and causing a significant appreciation of the currency, and here surplus revenues can be spent on education, infrastructure or investment activities in other sectors that would help diversify the economy.As for the second strategy, it is represented in diversifying the economy, which eliminates the negative impact of the Dutch disease on the economy, and economic diversification can be achieved by supporting or establishing lagging sectors of the economy and supporting local producers.” The hand to get rid of the Dutch disease does not carry any characteristic of complexity and helps to develop economic performance, but this matter requires a real will from those in charge of economic affairs.
He pointed out that "the country has a private sector capable of assuming its responsibilities towards the multiplicity of economic resources, when the will is directed to enter into real bilateral partnerships that can advance the country's reality," noting that "economic reform must be believed in by everyone and start from facilitating procedures and addressing The routine complications witnessed by the reality of the implementation of production and service projects.
Al-Baghdadi hinted that "the reality of investments in the country and job opportunities can advance the efforts of the world's largest specialized and globally classified companies, and this is a very important matter, but it needs to remove the labor market from the useless complexity that plunges the country into a whirlpool."
He called for "working on benefiting from the great expertise that the authentic and real private sector possesses, and not listening to those who are contingent on this important sector."
[You must be registered and logged in to see this link.]
» A deputy in finance expects the Council of Ministers to approve the budget schedules in today’s sess
» A deputy resolves the controversy over the “transfer supplement” in two ministries
» Al-Halbousi’s “vacant” seat.. Will the coordination framework end the “Taqaddum” dream of an allianc
» The Federal Government issues a state order to stop the Commission’s work procedures regarding the K
» Including the freedom to choose the bank and withdraw the salary for “free”... “My Account” features
» The Central Bank sells more than $250 million during its daily auction
» Al-Sudani receives a delegation from the Union of Arab Banks
» Iraq and the United States of America hold trade meetings in Washington
» In pictures... The activities of the Union of Arab Banks conference in Baghdad, “Day Two”
» The Director General of Ports announces the completion of berths (3) and (4) in Al-Faw Grand Port
» The Council of Ministers holds its regular session headed by Al-Sudani
» Parliament publishes the agenda of its session for next Thursday
» A government measure to reduce "money laundering" using the buying and selling of real estate in Ira
» Iraq proposes establishing a specialized council to combat corruption in Arab countries
» Al-Mawarid intends to establish infrastructure and investment projects for the water sector in Iraq
» The Federal Court issues a decision regarding postponing the election of the Speaker of the House of
» utube 5/4/24 MM&C Iraq Dinar- IQD Update - No Float of Exchange Rate - Budget -2024 - Schedules -
» utube MM&C 5/7/24 Iraq Dinar- IQD Update - Regional Trade - A Progession of Reforms - A Global Bac
» A government meeting to discuss financing and implementation mechanisms for the Development Road Pro
» Al-Sudani: Iraqi banks are on the right track with financial transfers
» Al-Khazali: The Turkish side is still imposing its conditions on Iraq
» Rights: We refuse to amend the bylaws of Parliament under political influence and desires
» Nechirvan Barzani: We want to address all problems with Iran and begin a new phase of relations
» Today, Iraq and Iran signed the minutes of a joint meeting related to trade
» KPMG International begins auditing the revenues of telephone companies operating in Iraq
» Oil: The seventh batch of equipment for the gas manufacturing project in the Nasiriyah and Gharraf f
» Al-Sudani assures the French ambassador of Iraq’s openness to “fruitful” partnerships
» Government move to install gold screening devices at 4 airports
» Sudanese Advisor: The oil sector is witnessing a rapid renaissance
» Opening offices specialized in employing people with disabilities
» Infrastructure and investment projects for the water sector in Iraq
» Adopting the electronic system in the next census
» Al-Sudani chairs the first meeting to restructure the government apparatus
» Business Council: Efforts to open a branch of the Chinese Bank in Iraq
» Iraqi diplomacy is balanced openness
» The head of the Integrity Commission told Al-Sabah: We are the people’s eyes on the government and s
» Baghdad Provincial Council: The capital is facing a new urban and service phase
» Customs, security and economic aspects
» Central Governor: We face “increasing challenges” in complying with international laws
» Payment of end-of-service benefits to employees referred to retirement for the month of May
» Billions “evaporated”.. What is the truth about closing the “theft of the century” file in Diyala?
» The Minister of Labor approves the extinguishment of debts owed by transgressors from the families o
» How did Washington comment on Nechirvan Barzani's visit to Tehran?
» The honeymoon is over and the salary crisis continues. Baghdad and Erbil exchange accusations, but s
» Why has Iraq not submitted a file to stop burning gas over the past years?
» A slight increase in the exchange rate...more than 146 thousand per 100 dollars
» Do Iraq's debts pose a threat to the economy? Parliament answers
» Agriculture explains the mechanism of implementing the calendar program and its economic gains
» President Masoud Barzani meets an Iraqi parliamentary delegation
» Parliamentary criticism of the government’s delay in sending the budget schedules despite the approa
» A report reveals the existence of an undeclared “Iraqi-British” agreement regarding asylum seekers
» Alternative energy... advanced stages of the largest solar energy station in Iraq
» Its delay raised concerns... it is likely that the 2024 budget schedules will be approved today
» The industry reveals the reasons why Russian companies stopped reconstructing 7 factories in Anbar
» Billions evaporated.. What is the truth about closing the theft of the century file in Diyala?
» Nouri Al-Maliki to the Saudi Ambassador: Iraq is open to all countries of the world
» An Iraqi generation that “does not fear” America and Iran.. Nadim Al-Jabri explains his expectations
» After 9 years.. the third session of the Trade and Investment Framework Agreement between Iraq and A
» “These are our goals.” The Turkish President talks about his visit to Iraq last month
» Romanowski: The Iraqi judiciary is independent and the Federal Court seeks to consolidate democracy
» Deputy: The presidency of Parliament will remain vacant until the end of the current session
» Political: The Iraqi economy is threatened by American hegemony because of the coordination administ
» Politician: Salem Al-Issawi will not become Speaker of Parliament
» Planning reveals the mechanism for examining gold in local markets
» Including railway connectivity and water shares... Iraq and Iran are discussing a number of common i
» Oil is preparing to export gas oil after achieving self-sufficiency
» Trade is preparing to hold a number of specialized exhibitions in Baghdad and the provinces
» Erdogan: Our goal is to raise the volume of trade with Iraq to more than 20 billion dollars
» Al-Sudani confirms Iraq's openness to fruitful partnerships with French companies
» Determining the launch date for the activities of the 48th session of the Baghdad International Fair
» Al-Sudani receives a delegation from the Union of Arab Banks
» utube 5/3/24 MM&C Iraq Dinar Update - Expectation - Implementation - Activation - New Exchange Rat
» “Services” asks the Central Bank about billions of foreign banks in Iraq
» Central Bank: Iraqi banks still face challenges in complying with international laws and standards
» Parliamentary bloc: The Central Bank offers hard currency to “mafias” on a golden platter.. The Suda
» The Iraqi Central Auction witnesses a rise in foreign remittances to $267 million
» Wednesday.. The session to elect the President of the Iraqi Parliament is heading towards “Al-Issawi
» The Union of Arab Banks proposes 4 “important” points for Iraqi banks to meet compliance standards
» In the document... the Central Bank decides to return the “Al-Mal” Bank to work... in this case
» The Iraqi-American agreements and cooperation were the most prominent topics of Al-Araji and Romanow
» Al-Hakim meets a joint delegation of resolve and sovereignty and renews the call to hold a session t
» Nearly one billion dinars were recovered and 3 million liters of fuel intended for smuggling in Iraq
» Al-Sudani and the European Union ambassador discuss issues of economic partnerships, civil aviation,
» More than 950 million dinars... petroleum products announced their recovery
» Forming a committee to follow up on stopping the sale of the dollar to travelers
» The Minister of Justice visits Al-Muthanna Governorate to discuss mechanisms for developing judicial
» Agriculture: Farmers who were affected by the recent rains will be compensated
» Al-Rasheed issues a warning regarding applying for advances and loans
» Al-Rafidain announces the implementation of the comprehensive banking system in its main branch
» Al-Rasheed warns of offices and pages claiming to promote the Salaf
» Adviser to the Prime Minister: There are no conflicts in the route of the Baghdad Metro
» Al-Sudani: We are keen to develop the work of the TBI Bank and address the problems it faces
» Agriculture explains the mechanism of implementing the calendar program and its economic gains
» “The shocks have changed.” The Governor of the Central Bank explains the impact of the openness of I
» The President of the Association of Private Banks sends an “important” invitation to the Central Ban
» Al-Alaq: The Iraqi banking sector has witnessed significant qualitative developments in response to
» On behalf of Al-Sudani, the Minister of Planning sponsors the signing ceremony of a memorandum of un
» The Iraqi Travel Companies Association participates in the Arab Travel Market Exhibition