Experts finance and economy Iraqis Atdarson solutions and treatments to counter the negative effects

Experts finance and economy Iraqis Atdarson solutions and treatments to counter the negative effects of lower oil prices

Experts finance and economy Iraqis Atdarson solutions and treatments to counter the negative effects of lower oil prices

Last Update: Saturday, February 13, 2016 - 16:38

Iraq - Baghdad,

Ali Karim Ozhab

a number of financial experts and economists in Iraq, solutions and treatments to counter the negative effects caused by A decrease in crude oil prices in world markets and its impact on the Iraqi economy and how monetary and economic Altsidirellothar to lower oil prices as it has been put forward many important treatments to avoid relics dangerous for the decline. As it calls to give the private sector a wider area in the development process as well as to reconsider many of the economic policies and the liberalization of economic decision of the dominance of the political decision

and the MP Mehdi al-Hafez said the dilemmas of many of the country Besides a drop in oil prices, there is also a great need to achieve full independence and the liquidation of the occupation in An important part of the country. Get rid of the control of any Daash in some parts of Iraq, adding that the irrefutable about the consequences of falling oil prices. It was anticipated long ago. But the problem here is how you can solve the dilemma of lack of financial resources - not oil - or to the side of the oil - in order to achieve a state of reasonable balance between national development and financial resources in the country. We now face a two-level dilemma: the first level is the direct level on solving the deterioration of the financial resources of the state and its impact on the financial situation of the employees of the State as well as providing the money needed to cover imports. It is a very difficult case either the second level and the most important is how the funding problem solved Booha in pointing out that this issue was expected by provided the views of many proposals.

He said Hafiz that employees and contractors as well as pensioners numbering more than five million .jaet these figures in studies of a number research and advisers of international centers, this fact has made ​​Iraq the first country in the world in terms of the proportion of the population walks to the size of the population in Iraq, and the reason is very clear, is the neglect of the development and the reduction of employment without the other foundations of financial resources so that it can balance achieved between state spending and what is available as well as from the reduction of the spread of corruption and national resources confirming the presence of another problem is poor management of public funds. How can Iraq as a unified state that invests its resources, it is the disruption of or interference. The problems with the Kurdistan region, was and is a real waste of an item. The government of the Federal, for several years can not solve this problem, especially in conjunction with the independent export of oil continuing, said Hafiz that some were too pessimistic as shapers of economic conditions and the possibility that Iraq may become bankrupt based on the development of financial resources in the Aera s .. and this is not new, as since the days of the former regime have things moving towards the economic downturn has now reached this deterioration.

and economist Ahmed Abrihi occur reviewing the prospects of the economic situation in Iraq in light of the supply and demand for oil process and its impact on Iraq and the global market and how to enable the state budget in passing these serious economic obstacles through the provision of foreign exchange requirements and the balance of the Iraqi currency and its relationship with reserves of the Central Bank of Iraq, and government banks, indicating that the demand for oil is determined by population and GDP per capita and the price of crude oil and the prices of the rest of the energy and structure elements output by economic activities .. He pointed out the importance of agriculture stand out more in a few evolution countries to highlight the industry in most developed countries and countries move to the post-industrial stage the more society offers more increased importance of services sectors and called Abrihi to the need for gas investment, whether associated or independent because all future data indicate that the role of oil would go down a lot and highlights gas importance .. returned that we have a big problem lies in the lack of interest and investment in gas, noting that global demand for oil over the next two decades will be reduced by about a clear result of bringing the gas as well as technological development, stressing that the decline in oil prices is subject to international policies in the economic framework which conspiracy studied the economic system well any conspiracy by economic means and economic theory

and the Abrihi that the other problem we have is the lack of distinction between the Iraqi currency and foreign at the time to have a cash balance of foreign special budget currency includes the opening balance at the Central Bank and Federal Bank as well as other banks if any, as well as forecasts the size of the oil revenues and any other exports and the amount of the expected withdrawal of foreign currency and what are the facilities that we get from exporters and how much the amount of payment on credit, in contrast refers Abrihi that foreign currency paid to oil companies and to pay for imports of services and expenses and other In case of flows increase been sold to the Central Bank .. this balance must be reviewed daily by the Ministry of planning and Finance and the Central Aalpennek and displays each month in the Council of Ministers and the House of Representatives .. warning of confusion between the foreign and local currency balance of the process and draw Abrihi to that there was no relationship between the central bank lending to the government and between inflation indicators ..anma inflation linked offer services and goods in the production capacity scale.

to that occurring economist Behnam Elias Boutros agent, former Ministry of planning about the size of spending and revenues in the state budget in light of the economic classification of the budget .. noting that operating expenses are the greatest because the budget are just the distribution of funds on the head and that the rates of implementation in the biggest investment of the current budget for low ratios in the investment side, pointing out that the reasons for the high operational side volume to 55 per cent in 2013. Mstntija that the budget is one of without a clear strategy that should be are unchanged each year or at least every three years, Peter called to reconsider career distribution in order to reduce consumer spending, as well as take care of social services such as education by involving the private sector in this foreigners to improve the level of performance demanded too reconsider income distribution of salaries by about accurate

Peter also called for import regulation according to market needs and conditions of the local product protection and prepare Platform appropriate import Alert and formation of a neutral committee of technicians and professionals mission follow-up budget a month and provide a report to deviations facing budget.

MP Ali al-Adeeb, talked about measures that must be take now to get out of this crisis, and wondered about the mystery of the absence of the private sector so far and not having a real chance he urged not to let the economic decision, however, politicians and this is a big mistake that ride in Iraq, noting that the drop in oil prices is not the first .. explaining that what is economic is affected hard as is political and that the rapid descent in oil prices resulting from the political game, and this vision must be clear for the political influential.

Governor of the Central Bank of Iraq on the Keywords explained that the plans, policies and forecasts and bells warning existed over the past years Vstratejh budget exist, as well as five-year development plan drawn up effort national huge scientific and careful planning and all sectors in these plans .. indicating that the political administration of the interests that caused the deviation of these plans for their goals, there are a lot of political influences, stressing the need to have economic decision independently away from the dominance of the political side, calling to be a vision of space economic and wide and allows the scheme to sketch the budget and fiscal policy by about scientific

and added Keywords that the budget deficit significantly affect the financial policy and not to create a production base and not to attract investment but on the contrary go money to invest abroad, pointing out that the performance of the economic Committee in the Council of Ministers is the performance of a traditional working to address some of the problems related to the work of ministries with respect to the exceptions and thus the lack of a basic channel have the power, flexibility and autonomy in economic policy in the country.

Director of the Office of the Prime Minister Mahdi Keywords affirmed for his part that the government has taken a number of important measures, including the need to control imports cabinet has made ​​a decision the formation of the control points to control the goods which enter through the Kurdistan region outlets like all other ports and stressed Keywords on the development of the private sector is is the foundation and sticky in the economic process by about a wider, noting that the coming days will witness the start lending to the private sector from the central bank loan.

banking expert Muwaffaq Hassan explained that over the years throughout the capital has not seen any Add to encourage investment so it has become the Iraqi environment repellent to invest local, whether or foreign because of the absence of motors .. He explained that all government departments are working against the investment because of corruption.

expert and researcher economic Hamid Ulkipaia pointed to statements cast by officials that do not help the economic construction and the statements issued by senior officials show that Iraq could be up to a state of bankruptcy .. indicating that is required of us is a private sector development, but the difficulty lies in the dominance of the acquisition of the public sector over the reins of life .. calling for the sale of all factories and state-owned enterprises to the private sector to help in the development of this sector and reduce the dominance of the public sector and pointed Ulkipaia in percentage it to disband the economic problem with the survival of dependence on oil, but required the development fund for oil revenues to be this revenue source to borrow and development

either legal expert Adil al-Lami, called for the pensions of separation operational budget for it mainly deducted from employees 'salaries ongoing proposal could be reviewed by deduction from employees' salaries to be divided equally between the government and employees in the sense 15 per cent of the employee and the like borne by the government. . Stressing the need to raise the tax rate on goods imported is important to reduce the proportion of imported and make way for the local product

financial expert Obaid shop explained that the budget strategy has not been approved in any given year .. Indicating that the Iraqi budget focused on the allocation of grades that leads to an excess of staff and the right is that the budget is working to create jobs through projects and investments.

Director General of the trade Bank of Iraq Hamdiya dry stressed the need to develop an appropriate exit from the crisis with minimal loss plans and the first plans are to get into self-sufficiency by reducing imports to the development stage national industry and to support the farmer and national industry .. a sign that the central bank initiative to support the private sector have not been implemented so far because of contexts unsound to work .. farewell to create a state of cooperation between the Central Bank and the Federation of Iraqi industries to provide support to the private sector industries and the involvement of standardization and quality control to oversee on the quality of these industries and drew dry to the absence of laws that protect foreign investor in Iraq, as well as the issue of the distribution of private investment projects land and that we have a process control rather than paper.

economist Bassem Jamil Anton explained that oil is a policy and there are countries control prices through a conspiracy on exporting countries the problem that we have contributed to this plot through high production ceilings, which we expected to reach production of 12 million barrels per day and we Anmtlk these qualifications that will enable us to achieve this thing .. criticized Anton some government statements that clearly have influenced the value of the dinar negatively and reduce people's confidence in banks, which led to people resort to savings Alaktnazih amounts may reach 30 trillion dinars instead of being the savings investment.

Head of Iraqi businessmen Union Reza Ragheb Blibl expressed regret for the lack of a real trend in the state to support the private sector in spite of the great efforts that have been made ​​to support the sector as no activation of the central bank's initiative in support of the private industrial sector .. surprising from a lack of loans to the industrial sector .. believing that the loan will not go to non-development due to the dominance of some quarters and this is evident through the committee formed for this purpose, as some of its members had nothing to do for them the issue .

invested Zainab al-Janabi called to think seriously to find alternatives to oil Fsharkp Microsoft annually enter the $ 350 billion, an amount that can not be any oil country achieve such profits, adding that the issue of Iraqi hospitals are also suffering from neglect, forcing many people to travel abroad for treatment and this costs money Chapter did not notice her one and criticized al-Janabi, the negative performance of the media, who works on making trouble.