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Economy News - Baghdad
The economist, Ziyad Al-Hashemi, described the establishment of the government by establishing the Market Council as an important and bold step.
Al-Hashemi said that the Iraqi government is finally establishing a market council that includes members of the government and businessmen to support the private sector.
He added that the government is also establishing a development financing fund to support investment, employment and production in the private sector.
He pointed out that the council is in coordination with the government to raise the private sector's contribution to the gross domestic product, so that it reaches 53-55% within ten years.
He noted that it is an important and bold step (if actually achieved) that will help develop non-oil sectors and diversify sources of work and income.
The appearance of Muhammad Salih, the financial advisor to the Prime Minister, Muhammad Shia'a al-Sudani, revealed the details of the government's approach to supporting the private sector.
Saleh said, "The current approach of the government has not deviated from consolidating the issue of proceeding with the national strategy for the private sector, which was approved years ago by the Council of Ministers."
Saleh added, "On the basis of which a specialized council was established in the Ministry of Planning, which included members from the private sector, and is concerned with the policies of state support for the private sector, which is what I personally call the (market council)."
He explained, "The council is currently coordinating with the government to raise the private sector's contribution to the gross domestic product, from less than 37% currently, to become in the next decade about 53-55% in the composition of the gross domestic product of Iraq."
And the financial advisor continued, "Based on the foregoing, the government curriculum included, in an explicit reference, the establishment of a number of (government development financing funds) directed at employment, investment and production in the private sector."
Added 03/11/2023 - 12:38 PM
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