Experts: Investment allocations in the budget will move the labor market
Economical 2023/03/18
[You must be registered and logged in to see this image.]
Hussein Thaghb Al-Tamimi
Finance and economics experts stressed the importance of investment allocations in the federal budget for the year 2023 in stimulating the labor market, as it will establish an additional production base that mobilizes idle productive capacities, specifically work at accelerated growth rates, and that moving seriously towards the transition from consumer spending to investment spending is important because of its impact on the life of Iraqi society and achieve their aspirations.
Financial advisor to the Prime Minister, Dr. The appearance of Muhammad Salih emphasized that “the investment spending directed with high efficiency and carefully studied in terms of economic and technical feasibility tends to move the work cycle on a large scale, due to the wide interdependence between the investment expenditures themselves and the demand derived on the inputs of the production process subject to investment, specifically the labor component, as well as supplies.” Other material production related to the components of the production function, which is targeted by the investment expenditure itself.
He said, "There is a measure of the accelerated effects of investment spending on growth degrees in the gross domestic product, because investment spending establishes an added production base and drives idle productive capacities, specifically work, with accelerated growth rates or the so-called investment spending accelerator," noting that "the growth of exchange is at the rate of one dinar per Efficient investment activity will generate income at higher or higher growth rates. This is within the framework of the development of demand chains for the labor component as one of the most important factors of production and its effects on the growth of the employment cycle itself, that is, through the wider use of human productive resources that drive the labor market.
He pointed out that "investment in the tourism sector, for example, generates a demand for work at a rate of 25 opportunities immediately from the various relevant human skills. Likewise, investment in the construction and building sectors has the ability to generate a demand for work with about 200 opportunities from various human skills, and so on for the rest of the sectors that Investing in them affects the demand factors in the national labor market.
Industrial development and investment consultant, Amer Al-Jawahiri, said: “Talking about the extent of the impact of investment allocations in moving the national labor market, we must always be clear about it, since the goal is to achieve prosperity, economic diversification, and the optimal exploitation of all natural and non-natural resources, including human capabilities, and improving the domestic product.” Increasing the country's revenues and reducing expenditures, all of this requires the development and improvement of infrastructure and services, and these are the projects.
He added, "When we go to implement projects that flow in this direction and contribute over time and the timing of their implementation in achieving qualitative shifts, which means optimal utilization of resources, all government institutions must be productive, that is, they have projects to improve energies, all of this is related to providing a working environment and real empowerment of the sector." in all its fields, in order to increase the percentage of its participation in development activities and the gross domestic product.
He pointed out, "When we review the draft budget that was sent to Parliament, we notice that there are no details of those projects, and it is certainly assumed that there are major projects in parallel with the movement that we said for private sector projects," noting that "the investment allocations in the budget constitute 25%, approximately 49 percent." One and a half trillion Iraqi dinars, and these amounts are really large, and here we must go to the criterion of implementation and verification, especially when we see some details in those amounts. For example, there are regional development projects, there is the Iraqi Fund for Development, and there is the Reconstruction and Development Fund for the poorest provinces. Of course, these are all amounts, meaning, for example, the Fund. Al-Iraqi for development has allocated a thousand billion dinars, and the poorest provinces have allocated 500 billion dinars. These are all supposed to be real projects immediately.
Economic affairs specialist d. Mostafa Mohamed Ibrahim stressed that "investment expenditures are an important part of public spending, and they are among the means that direct the government's activities and raise economic and social development. That development be achieved in the economic sectors without increasing investment spending, which includes capital spending for the purchase of equipment, machinery, and tools, and for building factories, laboratories, and bridges.
Ibrahim continued, "Every increase in spending leads to the addition of new productive capacity that helps to advance the crippled economy, as investment expenditures take two forms: the first is spending on social capital projects, which included spending on giant projects such as roads, ports, railways, dams, and electricity projects. The second is spending on productive projects that the government produces in order to advance development and direct economic activity in the path that achieves its policies
Economic".
He said: "The higher the ratios of investment spending compared to consumption, this indicates the accumulation of capital and productive capacity, and then the increase in economic growth rates, as we find that investment spending from 2003 to 2023 was fluctuating with ups and downs, and some years investment spending turns into operational, as we notice The 2021 budget has allocated an amount of (13,322,973) trillion dinars for investment spending, which constitutes (13%) of the total public spending amounting to (102,849,659) trillion dinars, compared to 2023, when investment spending amounted to (49,675,341) trillion dinars, at a rate of ( 25% of total public spending amounting to (198,683,719) trillion dinars, which means double investment spending for the year 2021.
And Ibrahim added, "Raising the percentage of operational allocations means that the government, within its platform, focuses on supporting investment projects in all sectors and recovering the current miserable situation from the sluggishness of government jobs that burdens the budget because of investment spending in terms of employing the Iraqi workforce, preserving the foreign currency, and achieving revenues that exceed oil revenues." And moving the youth labor market from 19 years old to 35 years old, which the sustainable development goals of 2030 focused on, eliminating unemployment and decreasing foreign labor.
And he stressed the importance of "the government moving seriously from consumer spending to investment spending because of its impact on the life of Iraqi society and the realization of their aspirations. In my humble opinion, the allocation of current investment spending before its approval by the legislative authority is the amount of the budget of a country in one of the countries of East Asia and the government Orientation towards investment spending from now on.
[You must be registered and logged in to see this link.]
Today at 11:18 am by Rocky
» Planning: Iraqi companies are not efficient in conducting the population census
Today at 11:14 am by Rocky
» utube MM&C 4/24/24 Support - USA- Turkey - Timing- Currency Value - Tabled
Today at 9:08 am by Rocky
» MM&C 4/25/24 National Bank of Iraq goes live with Temenos core banking and payments
Today at 9:06 am by Rocky
» utube MM&C 4/26/24 Iraqi Dinar - US Treasury Exchange Rates- Focus - Banking Partnerships - Rate C
Today at 9:06 am by Rocky
» A banking official indicates a "danger" to Iraq by depriving more than half of its banks of dollars
Today at 8:55 am by Rocky
» With the participation of the Association of Private Banks, investment opportunities are on the tabl
Today at 8:45 am by Rocky
» Within a month... an Iranian border crossing recorded a noticeable increase in exports of goods to I
Today at 8:44 am by Rocky
» The Association of Private Banks appreciates the efforts of the government and the Central Bank to c
Today at 8:43 am by Rocky
» Al-Maliki's coalition presents a third candidate for the position of governor of Diyala
Today at 7:57 am by Rocky
» Arab gathering: The Kirkuk problem is getting complicated and the Sudanese must intervene
Today at 7:56 am by Rocky
» Next week.. a Kurdish delegation will visit Baghdad to meet with the Minister of Finance
Today at 7:54 am by Rocky
» Under the pretext of salaries... Al-Party refrains from handing over port revenues to Baghdad
Today at 7:53 am by Rocky
» Association of Banks: For the first time, we are witnessing a clear targeting of depriving half of t
Today at 7:51 am by Rocky
» Parliament does not know the reason for the delay in sending the 2024 budget schedules: Voting takes
Today at 7:49 am by Rocky
» Applicants for the 2024 Hajj are demanding that the Central Bank secure the dollar for them through
Today at 6:09 am by Rocky
» Governmental and private banks will showcase their services tomorrow during Financial Inclusion Week
Today at 6:08 am by Rocky
» Iraq's oil exports rise despite OPEC+ cuts
Today at 6:06 am by Rocky
» A study explodes a "surprise"... Iraq is among the countries that export oil to "Israel": How is the
Today at 6:04 am by Rocky
» Al-Araji emphasizes working to strengthen national identity
Today at 6:02 am by Rocky
» Al-Sudani visits Saudi Arabia to participate in the World Economic Forum in Riyadh
Today at 6:01 am by Rocky
» Iraq is talking about producing one million additional liters of gasoline
Today at 5:59 am by Rocky
» The Council of Ministers approves the implementation of the Baghdad Metro project
Today at 5:56 am by Rocky
» Minister of Commerce: We formed a joint economic committee with Türkiye
Today at 5:55 am by Rocky
» Resources: Government measures have contributed to improving the water situation in Iraq
Today at 5:53 am by Rocky
» Parliamentary Finance: Baghdad will continue to send salaries to the region’s employees until settle
Today at 5:51 am by Rocky
» A parliamentarian describes the corruption of Iraqi ports as “ghouls” and reveals the involvement of
Today at 5:49 am by Rocky
» Obelisk Hour: Basra is the subject of political conflict and ambiguity over the fate of the funds al
Today at 5:48 am by Rocky
» Turkmen leader: An agreement on the local government of Kirkuk is near
Today at 5:45 am by Rocky
» Anbar calls for the operation of its factories despite financial obstacles
Today at 5:44 am by Rocky
» Turki: The crisis of the Presidency of Parliament prompted the Sunnis to amend the Council’s interna
Today at 5:43 am by Rocky
» The Agriculture Committee confirms the existence of Iraqi-Turkish-Iranian discussions on water
Today at 5:42 am by Rocky
» Resources diagnose the challenges facing the water file in Iraq
Today at 5:38 am by Rocky
» Parliament pledges to the Interior Ministry: We will transfer money to buy weapons from citizens
Today at 5:33 am by Rocky
» Al-Issawi is the closest.. Parliament sets the date for deciding the choice of the new president
Today at 5:31 am by Rocky
» Deputy: Iraq's investments have risen and need a comprehensive review of previous years
Today at 5:30 am by Rocky
» Iraqis consume 7 billion eggs annually and import about $900 million
Today at 5:28 am by Rocky
» The Iranian role complicates attempts at open cooperation between Iraq and Turkey. Turkey is trying
Today at 5:26 am by Rocky
» Move in Iran to obtain $242 billion from Iraq in compensation for the eight-year war
Today at 5:25 am by Rocky
» 12 decisions from the Council of Ministers regarding the Baghdad Metro and Najaf-Karbala train proje
Today at 5:23 am by Rocky
» Sudanese Advisor: The path to development has begun... the Baka and the militias “we silence them wi
Today at 5:21 am by Rocky
» Not from Kurdistan.. How did Iraq become a source of oil for “Israeli tanks”?
Today at 5:19 am by Rocky
» Parliamentary Agriculture criticizes the Sudanese and Erdogan agreement: Türkiye will control water
Today at 5:16 am by Rocky
» The Iraqi government issues new decisions
Yesterday at 3:35 pm by Rocky
» The story of “reduced oil” to Jordan, from “compulsion” to mutual benefit.. Is there a loss?
Yesterday at 3:33 pm by Rocky
» The Council of Ministers takes 12 decisions for the Baghdad Metro and the Najaf-Karbala train
Yesterday at 3:32 pm by Rocky
» utube MM&C 4/23/24 Iraqi Dinar - IQD Update - Development Road Project - Saviour of Global Banking
Yesterday at 11:18 am by Rocky
» Kidney from pig transplanted into deathly ill New Jersey woman — and begins working almost immediat
Yesterday at 11:15 am by Bama Diva
» The most difficult option.. Warnings of the danger of floating the Iraqi dinar without achieving an
Yesterday at 10:48 am by Rocky
» Trade from the “Economic Committee” with Türkiye: It will overcome all obstacles facing the traders
Yesterday at 10:46 am by Rocky
» Washington's hope for stable relations with Baghdad clashes with Iraqi parties' rejection of the Ame
Yesterday at 10:41 am by Rocky
» Karim Badr: Development is America’s will to kill silk
Yesterday at 10:36 am by Rocky
» Oil: Opening of a new port for liquid gas for vehicles in Baghdad
Yesterday at 10:33 am by Rocky
» A media advisor warns of corruption in a draft law on the Parliament’s agenda
Yesterday at 10:21 am by Rocky
» Economist: There is serious work to lift US sanctions on Iraqi banks
Yesterday at 10:16 am by Rocky
» Will the agreements signed with the US Treasury reflect positively on the exchange rates?
Yesterday at 8:52 am by Rocky
» Iraq continues its quest to join the World Trade Organization
Yesterday at 8:51 am by Rocky
» Iraq completes the completion of the files for the initial offer of goods and services to join the W
Yesterday at 8:50 am by Rocky
» Economist: Travelers' dollars are leaking into the parallel market...and this is what the Central Ba
Yesterday at 8:32 am by Rocky
» President of the Federal Court: It is not permissible to force anyone to join any party, and the pol
Yesterday at 8:30 am by Rocky
» The Council of Ministers holds its session headed by Al-Sudani
Yesterday at 8:27 am by Rocky
» America weakens Baghdad...and increases Kurdistan's military capabilities
Yesterday at 8:26 am by Rocky
» The Iraqi government plans to build 10,000 schools throughout the country
Yesterday at 8:23 am by Rocky
» American threats close the Iraqi Stock Exchange at a loss
Yesterday at 8:21 am by Rocky
» Increase in external transfers at the Central Bank
Yesterday at 8:20 am by Rocky
» Al-Maliki calls on Britain to cancel restrictions on the entry of its companies into Iraq
Yesterday at 8:18 am by Rocky
» Planning and the European Union are discussing signing a number of agreements in the development, en
Yesterday at 8:16 am by Rocky
» Parliament talks about the mechanism for recovering smuggled funds and hints at the next stage
Yesterday at 8:13 am by Rocky
» Interior Ministry: The number of completed national cards reached 37 million cards
Yesterday at 8:06 am by Rocky
» Amnesty International: Violations of freedom and human rights continue in Iraq and the Kurdistan Reg
Yesterday at 8:04 am by Rocky
» Parliamentary Oil: The government is proceeding with the decision to raise the price of improved gas
Yesterday at 8:03 am by Rocky
» A parliamentary committee in Basra to investigate violations of the port company and the local gover
Yesterday at 8:00 am by Rocky
» Revealing the 10 most important American exports to Iraq
Yesterday at 6:31 am by Rocky
» A noticeable increase in the rate of Iraq's import of Chinese cooling devices
Yesterday at 6:30 am by Rocky
» Prime Minister: Working on projects without completing the infrastructure is a waste of money
Yesterday at 6:28 am by Rocky
» Iraq.. Extending the deadline for registration procedures on plots of land
Yesterday at 6:27 am by Rocky
» What is the main purpose of conducting the population census in Iraq?
Yesterday at 6:25 am by Rocky
» A plan to transform Iraq from a barren land to green with 5 million trees
Yesterday at 6:24 am by Rocky
» The Housing Fund announces the acceptance of more than 11 thousand loans through the Ur platform
Yesterday at 6:23 am by Rocky
» The Bank of Baghdad is moving to increase its capital to 400 billion dinars
Yesterday at 6:20 am by Rocky
» The electronic payment system will soon be adopted on Iraqi buses
Yesterday at 6:19 am by Rocky
» “It threatens our interests and destroys our economy.” An Iraqi project “irritates” the Kuwaiti stre
Yesterday at 6:18 am by Rocky
» Warning from the Central Bank about “misuse of electronic payment cards”
Yesterday at 6:17 am by Rocky
» Iraq and the Sultanate of Oman are discussing sending capacities through the Gulf countries
Yesterday at 6:16 am by Rocky
» The fact that a decision was issued to deport Syrian workers from Iraq
Yesterday at 6:14 am by Rocky
» Rice comes first... America exports 10 foodstuffs worth more than 350 million dollars to Iraq
Yesterday at 6:14 am by Rocky
» A sixth licensing round for gas exploration
Yesterday at 6:12 am by Rocky
» Baghdad is preparing to host the 50th session of the Arab Labor Conference
Yesterday at 6:11 am by Rocky
» Scientific symposium on the future vision of the tripartite budget
Yesterday at 6:09 am by Rocky
» Five conversion power stations enter service in Najaf
Yesterday at 6:08 am by Rocky
» Planning: Conduct a population census next November
Yesterday at 6:07 am by Rocky
» Experts: Spreading misleading information harms development and investment
Yesterday at 6:03 am by Rocky
» Economists call for tightening money laundering laws and port controls
Yesterday at 6:02 am by Rocky
» Today's newspapers are interested in Sudanese's visit to Anbar Governorate and preparations for cond
Yesterday at 6:00 am by Rocky
» Iraq and Russia discuss cooperation between the two countries in the field of information and artifi
Yesterday at 5:58 am by Rocky
» With international and Arab participation. Diyala University hosts the International Specialized Sci
Yesterday at 5:56 am by Rocky
» The Basra government discusses with a UN delegation support for owners of qualified companies to est
Yesterday at 5:49 am by Rocky
» Oil stabilizes amid signs of an economic slowdown in America
Yesterday at 5:48 am by Rocky
» More than 11 thousand loans announced by the Housing Fund via the Ur platform
Yesterday at 5:47 am by Rocky