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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq of Four Million Employees: Will the Oasis of Jobs Last in the Desert of Opportunities?

    Rocky
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    • Post n°1

    Iraq of Four Million Employees: Will the Oasis of Jobs Last in the Desert of Opportunities? Empty Iraq of Four Million Employees: Will the Oasis of Jobs Last in the Desert of Opportunities?

    Post by Rocky Thu 19 Sep 2024, 6:45 am

    [size=38]Iraq of Four Million Employees: Will the Oasis of Jobs Last in the Desert of Opportunities?[/size]


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    September 19, 2024[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala: Iraq is witnessing a major job slack, represented by the presence of about 4 million government employees, which burdens the state treasury and drains more than half of its budget.
    Although government institutions, especially industrial and commercial ones, do not generate sufficient financial revenues to secure the salaries of their employees, the government system still relies heavily on employing large numbers of citizens.
    The per capita rentier income in Iraq was designed since the 1950s to depend on a broad government employment system, which led to the creation of a government support system in which each government employee depends on supporting 5 other individuals.
    As a result, more than 23 million citizens are completely dependent on government salaries to meet their daily needs.
    Economic challenges
    The Iraqi government relies heavily on oil revenues to cover these salaries, but these revenues must be invested properly to ensure their sustainability. One of the main challenges facing the Iraqi economy is the inability of the private sector to create sufficient job opportunities, which forces many citizens to seek government jobs.
    Transforming the labor market into an industry-led production market requires great efforts and a long time to achieve, especially in light of the market’s lack of sufficient job opportunities.
    Reform efforts
    The Iraqi government seeks to amend the retirement and social security systems by establishing a retirement fund for the private sector in cooperation with international institutions such as the World Bank.
    Although the Workers’ Retirement Law was enacted in May of last year, it still needs to be implemented to be part of the proposed solutions to support the private sector and provide retirement guarantees and opportunities similar to those available in the government sector.
    The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the operating budget constitutes about 65% of the total general budget, and that the cost of employee salaries alone amounts to about 62 trillion Iraqi dinars annually (about 47 billion dollars). For his part, the head of the Finance Committee in the Iraqi Parliament, Atwan Al-Atwani, stressed that the government appointments made during 2023 increased the operating budget by about 8 trillion dinars per month (about 6 billion dollars).
    According to experts, the current situation of the Iraqi economy requires radical and long-term reforms. The government must focus on supporting the private sector and investment projects, in addition to reforming the retirement and social security systems, to ease the burden on the government apparatus and achieve sustainable economic growth.
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