Commenting on the recent International Monetary Fund report... Mazhar Muhammad to Al-Zawraa: The gov

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[size=52]Commenting on the recent International Monetary Fund report... Mazhar Muhammad to Al-Zawraa: The government’s vision is a partnership between the state and the private sector.[/size]

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05/28/2024
Al-Zawraa / Mustafa Falih:
The government’s financial advisor, “Mazhar Muhammad Salih,” commented on the International Monetary Fund report, which recommended that Iraq control public wages and gradually cancel employment, while stressing that the government’s vision today began with a partnership between the state and the private sector while stimulating the economy. The productive market
. Saleh said in an interview with Al-Zawraa: “The IMF notes that oil revenues, which constitute 93% of government revenues, half of which go to employment and salaries for public employment, and it sees that there is inflation in the state with regard to the number of employees. Does it need these numbers of employees or not? It is social welfare in this sense, so this money must be directed to activities and investments that provide job opportunities for the unemployed instead of unemployed jobs.”
He pointed out that “they have an old plan, which is that employment should replace retirees and not expand. For every six people who are referred to retirement, one person is hired to control public jobs. They consider it a mistake to expand because development will be disrupted and there is no proportion between development expenditures and the operating budget. They propose to restore Structuring it until the correct ratio and proportion occurs, and this is their point of view.”
He explained that there is “social pressure, and if there are no development projects, there will be employment. On the day development projects are launched, partnerships with the private sector occur, things are organized, and income improves, then it is assumed that there will be an improvement in this aspect.”
He pointed out that “what was mentioned in the report is called Article Four consultations, as all countries in the world are subject to annual evaluation from the Fund’s point of view.”
He stated, “There is a problem that if oil revenues remain distributed to employment, then what is its share of development, and thus we are forced to borrow for the sake of development, and this is not true.” He stressed, “The state is paying attention to this issue, but it is balancing. Some employment opportunities should be a minimum.”
He pointed out that financial reforms are achieved “through a partnership between the state and the private sector, and this partnership activates all sectors and absorbs the entire labor force, and people will not need employment if there are opportunities for guaranteed projects.”
He stressed, “If the state does not stimulate the market and activate the private sector, the problem will remain. Therefore, the government’s vision today began with a partnership between the state and the private sector, while stimulating the productive market economy and not the speculative market that profits at the expense of oil revenues.”[/size]
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