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Experts recommend a "national program" to restore economic policies
Economical 2023/03/15
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Hilla: Fadel Al-Ali
Economists and academics recommended defining a national program to reshape Iraqi economic policies. This came during the second joint scientific conference held by the College of Administration and Economics at the University of Babylon.
Haider al-Dulaimi, Dean of the College of Administration and Economics at the University of Babylon, said in a statement to “Al-Sabah” that the conference, in which experts, researchers and professors of Iraqi universities participated, was held under the slogan “Towards a national program to reshape economic policies to develop the Iraqi economy.”
He added that "the axes focused on activating the laws related to foreign investments in Iraq, taking into account the quality of these investments in a way that serves economic development, the development of productive forces, the introduction of modern productive technologies, and the prioritization of foreign investments through a well-studied economic plan."
Al-Dulaimi pointed out that “the axes also focused on giving priority to leading projects through which it is possible to attract the largest possible number of investments, thus contributing to activating the role of these sectors in the gross domestic product and providing an appropriate security, economic and political environment to attract foreign investments by giving sufficient guarantees.”
to the owners of capital.”
He pointed out that “the conference also witnessed the financial axis and the crisis of the Iraqi dinar exchange rate, which was the result of the scarcity of the dollar in the markets, and it is not a problem of the decline in Iraq’s dollar reserves, but on the contrary, Iraq’s dollar reserves increase daily due to the rise in global oil prices until the reserve reached
to (100) billion dollars.
He believes that the solution lies in addressing the scarcity of the dollar in the local market by addressing the root of the problem, which is the remittances that constitute up to 85% of the currency sale auction, and not relying on dealing with cash, which constitutes only 15% of the currency sale auction, and returning to documentary credits that guarantee the bank’s control Central control of import operations with the activation of the standardization and quality control system with the reduction of financial and administrative corruption in the border crossings.
The conference dealt with the accounting axis in order to ensure the real implementation of the functions of the general administration of the administrative institutions, as the administrative institutions need to improve internal control as a main content of the internal control of the administrative institutions. the public.
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