«Foreign Affairs» Repair Bgdad..hl can the Iraqi economy to come back again?
April 23, 2016 in the [You must be registered and logged in to see this link.] , [You must be registered and logged in to see this link.] comments on «Foreign Affairs» Repair Bgdad..hl can the Iraqi economy to come back again? Closed
[You must be registered and logged in to see this link.]
«Foreign Affairs» magazine dealt with in a report published by the economic conditions in Iraq, which is suffering in difficult conditions at the momentAnd he wondered what the American Journal of whether the country who has been a US invasion in 2003, was able to return the country 's economy to its previous status again or not. Bleak future
April 23, 2016 in the [You must be registered and logged in to see this link.] , [You must be registered and logged in to see this link.] comments on «Foreign Affairs» Repair Bgdad..hl can the Iraqi economy to come back again? Closed
[You must be registered and logged in to see this link.]
«Foreign Affairs» magazine dealt with in a report published by the economic conditions in Iraq, which is suffering in difficult conditions at the momentAnd he wondered what the American Journal of whether the country who has been a US invasion in 2003, was able to return the country 's economy to its previous status again or not. Bleak future
[You must be registered and logged in to see this link.]
The report said «touted expectations about Iraq's future as bleak; Vankhvadat oil prices devastated the financial sector in the country, which had already collapsed because of the war against the organization of the Islamic State (Daash) and a flood of refugees internally displaced persons».
The report continued by saying that despite the fact that the Iraqi security forces and its subsidiaries had regained strength against the Daash, the uprooting of the organization entirely will be a long and expensive task. This comes at a time when all of Iraq's vital oil pipelines and infrastructure exposed to damage, and in some cases total destruction. This has contributed to reduced domestic fuel supply and reduce oil exports.
However, according to the report, there is a greater threat threatens the stability and long-term prosperity in Iraq, a public sector bloated and inefficient. While devouring the Iraqi bureaucracy, the bulk of the country's resources, but it has failed to provide basic services and infrastructure or creating real economic development.
To demonstrate, the report monitored some statistics that indicate that it was spending 70% of the country's budget on the salaries of state employees who do not provide few services. According to the appearance of Saleh, an economic adviser to Iraqi Prime Minister «Haider al-Abadi», the workers in the public sector, the production of an average of only 15 minutes per day. The state-owned factories, which have outdated equipment, but does not have good services for maintenance, producing only a little, although they outsource more workers are greater than their need.
The specter of bankruptcy
The report went on saying «that in more prosperous times, served the state well-being of the Iraqi good enough for all, despite the lack of effectiveness. By giving Iraqi government jobs, and food rations, and Energy supported include fuel and electricity ».
At the same time, the political elites have used patronage system to enhance their strength, but in the light of the current economic crisis, this system no longer exists.Without serious reform, it could bankrupt the government sector to the country soon, the report warned.
The report also pointed out that the welfare states accustomed to economies based on resources, Iraq's financial problems are known widely, but it is surprising that the current challenges are innumerable in Iraq, have created a unique window for meaningful reforms to cut government waste, and the stability of state revenue and to promote private sector growth, and promoting productivity, and thus put the country on a long-term path of economic health.
Unlike governments that rely primarily on tax revenues, the report stated that Iraq had some of the controls on excessive public spending. The majority of operating income in Baghdad come from the oil industry, and during periods of high oil prices, the demand for low-spending reforms.
But now, after having collapsed the global oil market, it has exceeded spending gains, making the calls for a more robust reform.
In 2015, Iraq has suffered a budget deficit of $ 21 billion, and the deficit this year could reach $ 26 billion. And forced interest in issuing bonds in the international market, Baghdad to close the budget gap currency reserves.
It was the Ctaattiyat- monitored according to the report figures - fell from $ 75 billion in May 2014 up to $ 61 billion in October (October) 2015, and is expected to drop to $ 43 billion by the end of 2016.
Abadi and opportunities for reform
[You must be registered and logged in to see this link.]
The report considered that the dire financial situation in Iraq gives the opportunity of reform measures to be more substantial and effective.
The report said «the urgent need to put Iraq's current offer cover for Ebadi to act quickly, decisively; to address the imbalance of government, rather than just superficial reforms that weaken partisan interests without permanent consequences».
The report said that the cessation of government waste in Iraq is more likely to continue politically than ever; the popular support is strong for reform comes on a large scale.
The protests against the absurdity of the government, is not new in Iraq, but it has taken more importance in recent times, partly due to the support of influential religious figures, such as «Muqtada al-Sadr» who personally led a sit-in in the Green Zone in Baghdad in late March Abbadi calls for more efforts to fight corruption.
Even the «Grand Ayatollah Ali al-Sistani», which was not accustomed to comment on the affairs of state, the government has encouraged the public to make more effort to combat corruption.
Can the Iraqi prime minister, the report said, to use public pressure and political cover from the religious leaders, to help in the marketing of wider reforms of the government sector to the Iraqi public. Reforms comes as a «bitter medicine» which must be swallowed Iraq in order to cure the rampant corruption of the treatment.
International loans
At another point, the report said, «The financial problems in the Iraqi government to give international financial institutions more power to enforce the terms of aid and rescue packages, have committed to the International Monetary Fund has already short-term-funded $ 1.2 billion, and has the approval of the preliminary arrangements backup amounted to $ 15 billion over the next three years. This funding will be linked to strict and concrete terms supervised by staff monitoring program of the International Monetary Fund. »
For all these reasons, the report considered that the conditions necessary for reform are good despite the difficulties in Iraq.
The report suggests that calculates the Iraqi government that it tried to implement austerity measures, but they were not sufficient at all yet. Government salaries reduced by only 3%. The report described the recent Baghdad experience with import duties ranging from 5-35% a failure. In fact, the daily customs revenues at the border crossing between Iraq and Kuwait declined from 500 thousand dollars to zero.
Diversified economy
While the report described the conversion nervous statist regime in Iraq to a diversified vibrant economy, the big task, he said he can do the job. The report said «It can Ebadi to use the enormous public pressure and political cover from religious leaders; to market, not just anti-corruption measures, but also the reform of the public sector more broadly. Iraqi people may find these measures bitter medicine, but the fate of the country depends on it ».
According to the report, the Iraqi cumbersome bureaucracy does not encourage businessmen and investors inside and outside the country. Valibde in (or close) the company is costly and time consuming, as is the process of getting visas for workers or foreign investors seeking opportunities. The Iraqi capital structure is flexible. And cost, and uncertainty associated with the projects for making government work more attractive, and comes to reduce this cost, and uncertainty as catalysts proposed by the report is to reduce the government sector.
The report called for Iraq to follow up minor amendments to the 2007 law firms in the country. As the government can also do more to encourage entrepreneurship.Emerging companies and investment firms have begun in the early stage of prosperity throughout the Middle East.
Functional rehabilitation
[You must be registered and logged in to see this link.]
At the same time, the report called on the Iraqi government to follow up the largest investment in its people, Years of isolation from the rest of the world, left the Iraqis less skilled, and the current policies have artificially increases the number of jobs that go to the Iraqis, but the final impact of these measures backfire.
Companies are required to hire less-skilled Iraqi workers and high cost. As a result, companies pay eventually overvalued for Iraqis in functions, such as security. And the added cost of these employees pass ultimately to the customer: the Iraqi government.
Therefore, the report noted that instead of wasteful spending on jobs that require low skills, should be on the Iraqi government to launch a program of human development designed to give citizens the good jobs administrative skills that will prepare them for the real economy in the world.
Finally, the government can at least work to get the best of the spending on the salaries of its staff returns by investing in infrastructure assets.
The Iraqi government, as the report pointed out, is struggling to implement large-scale projects, such as building power plants, oil refineries, but can the trend toward smaller initiatives and more feasible in all parts of the country.
[You must be registered and logged in to see this link.]
Today at 7:08 am by Rocky
» Ports Authority notes the fate of the five berths in the Grand Faw Port
Today at 7:03 am by Rocky
» MP: Why is the regional government fighting the civil banks war and leaving the core of the issue?
Today at 6:57 am by Rocky
» Political researcher: The amendment will include sovereign ministries
Today at 6:54 am by Rocky
» Retirement: End of service bonus paid to more than 7,000 retirees
Today at 6:50 am by Rocky
» Al-Mashhadani stresses the importance of the role of the Audit Bureau in combating administrative an
Today at 6:48 am by Rocky
» Al-Mashhadani and Al-Hakim discuss parliament’s approval of important laws
Today at 6:47 am by Rocky
» Parliamentary consensus to pass controversial laws soon
Today at 6:45 am by Rocky
» Currency Auction.. Increase in the Central Bank of Iraq’s sales of foreign remittances
Today at 6:43 am by Rocky
» Interior Ministry dismantles 600 drug networks, electronic passport to be introduced soon - Press co
Today at 6:41 am by Rocky
» utube 11/2/24 MM&C Report-Iraq 3 Presidents-National-Constitutional Entitlements-Open Market Operati
Today at 5:22 am by Rocky
» utube 11/5/24 MM&C MM&C News Report-ICC-Investors-RIYADA BANK-Port of Faw-3 Presidents Seated-Removi
Today at 5:20 am by Rocky
» Foreign Minister warns of major and dangerous economic repercussions
Today at 5:12 am by Rocky
» Roadmap for Reform
Today at 5:10 am by Rocky
» Government reshuffle looms over Al-Sudani’s cabinet.. The compass of change is heading towards 4 min
Today at 5:08 am by Rocky
» Parliamentary move to legalize foreign labor in Basra
Today at 5:07 am by Rocky
» Parliament intends to amend the retirement law and return the service age to 63 years
Today at 5:06 am by Rocky
» Parliamentary move to question a senior official and complete procedures against the Minister of Com
Today at 5:04 am by Rocky
» Legal expert explains the mechanism for forming the Kurdistan Regional Government
Today at 5:03 am by Rocky
» Silk Road imposes a state of maximum alert suddenly
Today at 5:01 am by Rocky
» Sheikh Raouf: There is an urgent need to find a constructive, corrective opposition in Kurdistan
Today at 5:00 am by Rocky
» Green light from Baghdad to build the first waste recycling plant in eastern Iraq
Today at 4:59 am by Rocky
» MP: Al-Mashhadani discussed 3 important files with parliamentary blocs
Today at 4:58 am by Rocky
» MP: Al-Mashhadani's election will not affect the completion of legislation
Today at 4:56 am by Rocky
» Parliamentary Oil: Investment in associated gas in fields exceeds 60%
Today at 4:54 am by Rocky
» IMF: Foreign investment outperforms sovereign funds in generating growth in Gulf
Today at 4:52 am by Rocky
» Categories exempted from the curfew in the population census.. Get to know them
Today at 4:51 am by Rocky
» Kurdish investment trend in central and southern Iraq.. What are the reasons?
Today at 4:50 am by Rocky
» Iraq exports more than 6 million barrels of oil to America in a month
Today at 4:49 am by Rocky
» The Private Banks Association supports the Prime Minister’s directives to localize private sector em
Today at 4:47 am by Rocky
» Parliamentary confirmation to support financial oversight in combating corruption
Today at 4:46 am by Rocky
» Next Sunday.. Celebrating Baghdad Day
Today at 4:44 am by Rocky
» Sayyid Sistani's commandments
Today at 4:43 am by Rocky
» New services for health insurance subscribers
Today at 4:42 am by Rocky
» Al-Sudani directs ministries to leave (cash)
Today at 4:41 am by Rocky
» Mr. Sistani sets a roadmap for Iraq’s prosperity
Today at 4:40 am by Rocky
» OPEC+ postpones production increase
Today at 4:37 am by Rocky
» Government Advisor to {Sabah}: Turkish companies’ expertise has given them importance in implementin
Today at 4:36 am by Rocky
» The future of smart cities in Iraq is on the table for discussion
Today at 4:35 am by Rocky
» Expectations of achieving agricultural self-sufficiency within 3-5 years
Today at 4:34 am by Rocky
» Ministry of Agriculture: Launches the Electronic Inquiry System Service
Today at 4:32 am by Rocky
» Electricity contract employees demonstrate in Maysan to demand permanent employment
Today at 4:31 am by Rocky
» The Council of Ministers holds its regular session headed by Al-Sudani
Today at 4:29 am by Rocky
» Iraqi oil exports to America amounted to more than 6 million barrels during the past month
Today at 4:28 am by Rocky
» Launching the major national campaign to raise awareness of the Social Security Law
Today at 4:27 am by Rocky
» Private Banks Association: We support the Prime Minister’s directives to localize private sector emp
Today at 4:26 am by Rocky
» Parliamentary Committee: The Social Security Fund has become sovereign and the legislation of the la
Today at 4:25 am by Rocky
» Britain launches programme inside Iraq to combat 'Kurdish human trafficking gangs' in France
Today at 4:23 am by Rocky
» Warnings of delay in forming the regional government: will push regional and international parties t
Today at 4:21 am by Rocky
» Dollar prices rise again in Baghdad Stock Exchange and Exchanges
Today at 4:20 am by Rocky
» Al-Sudani praises the assistance provided by the United Nations mission to Iraq in facing challenges
Today at 4:18 am by Rocky
» The Private Banks Association announces its support for Al-Sudani’s approach to localizing private s
Today at 4:17 am by Rocky
» Interior: We have achieved a very significant decrease in crime rates across the country
Today at 4:16 am by Rocky
» The Private Banks Association announces its support for Al-Sudani’s approach to localizing private s
Today at 4:14 am by Rocky
» Iraq, Saudi Arabia sign MoU for military cooperation, boost bilateral ties
Today at 4:12 am by Rocky
» Transportation: Direct flights to 4 global cities
Today at 4:11 am by Rocky
» Prime Minister stresses importance of Mr. Sistani's diagnosis of Iraq's needs
Today at 4:09 am by Rocky
» “To enhance national security”.. Parliamentary Committee: Intelligence Service Law is ready to be pr
Today at 4:08 am by Rocky
» Optimism for a bountiful agricultural season.. Kurdistan Region records record high rainfall amounts
Today at 4:06 am by Rocky
» Al-Sistani’s “Seven Commandments” occupy Iraqi politics.. A reading of the position of the authority
Today at 4:05 am by Rocky
» As the date approaches, will Article 140 hinder the population census?
Today at 4:04 am by Rocky
» Prime Minister directs unification of efforts in the Iraqi Media Network
Today at 4:03 am by Rocky
» “Framework” coups with Sunni facades on the map of local governments in preparation for the 2025 ele
Today at 4:02 am by Rocky
» Parliament intends to extend the legislative session for a month
Today at 4:01 am by Rocky
» Difficult tests facing Parliament.. What are the scenarios for the remainder of the current session?
Today at 4:00 am by Rocky
» Parliamentary Security: Iran will launch a new strike against “Israel” within a short period.. What
Today at 3:59 am by Rocky
» Barzani to Romanowski: We have started negotiations to form the tenth government and no veto on any
Today at 3:58 am by Rocky
» Al-Sudani directs the localization of private sector salaries and sets a date for the departure of c
Today at 3:57 am by Rocky
» Bakhtiar Haji meets a delegation from the General Directorate of Civil Defense in the Kurdistan Regi
Today at 3:56 am by Rocky
» New Cities Authority sets timeframes for project completion, reveals details of its services
Today at 3:54 am by Rocky
» Oil announces completion of drilling and rehabilitating 15 wells during the past month
Today at 3:53 am by Rocky
» Ministerial Council for Economy: Taking the necessary measures and decisions that contribute to mark
Today at 3:52 am by Rocky
» Parliamentary Legal: There is a trend to extend the legislative term of Parliament
Today at 3:50 am by Rocky
» What is the truth about extending the legislative term of the House of Representatives?
Today at 3:48 am by Rocky
» The "Freedom of Demonstration" Law is Ready for Voting.. How Was It Amended?
Today at 3:46 am by Rocky
» Mr. Al-Sadr on the US elections: It is shameful for an Arab to pin his hopes on a senile or insane p
Today at 3:42 am by Rocky
» Laws stuck hostage to disputes between blocs
Today at 3:41 am by Rocky
» Doubts after the decline in power supply at the beginning of each month.. Is there a deal between ge
Today at 3:37 am by Rocky
» Integrity and the Financial Supervision Bureau agree to activate the cooperation agreement between t
Yesterday at 5:06 am by Rocky
» Al-Mashhadani faces 170 suspended laws.. Will they be approved or deported?
Yesterday at 5:04 am by Rocky
» Parliamentary demands to cancel the security agreement with Washington
Yesterday at 5:02 am by Rocky
» MP: Oil derivatives smuggling has decreased by 80% in Iraq
Yesterday at 5:00 am by Rocky
» After years of controversy, the Minority Protection Act is submitted for the first reading
Yesterday at 4:59 am by Rocky
» Al-Sayhoud: The ministerial reshuffle is useless for several reasons
Yesterday at 4:58 am by Rocky
» Iraqi government makes changes to the General Secretariat: Al-Juhaishi succeeds Al-Halbousi
Yesterday at 4:56 am by Rocky
» Extension of the legislative term of the Iraqi parliament for an additional month to pass laws
Yesterday at 4:55 am by Rocky
» Prime Minister: The necessity of strengthening Iraq's position to be at the forefront of the region'
Yesterday at 4:52 am by Rocky
» Parliamentary Transportation: We are determined to pass the Civil Aviation Authority Law
Yesterday at 4:50 am by Rocky
» Baghdad Council: Study of the reality of companies applying to implement projects
Yesterday at 4:49 am by Rocky
» Water Resources announces its control over the oil slick in the Tigris River
Yesterday at 4:48 am by Rocky
» Reconstruction: A new government vision for distributing serviced lands among those entitled to them
Yesterday at 4:47 am by Rocky
» Parliamentary Immigration Committee demands increasing the amount of the return grant
Yesterday at 4:44 am by Rocky
» Accreditation of specialized graduates to support quality control
Yesterday at 4:42 am by Rocky
» Heritage markets and buildings in Mosul after its reconstruction
Yesterday at 4:41 am by Rocky
» Specialized committee to ensure acceptance of cybersecurity outputs
Yesterday at 4:40 am by Rocky
» The Ministry of Interior issues mechanisms to regulate the work of private security companies
Yesterday at 4:39 am by Rocky
» Baghdad Council: Study of the reality of companies applying to implement projects
Yesterday at 4:38 am by Rocky
» Welcome to the trends of establishing an administrative capital
Yesterday at 4:36 am by Rocky
» Securities trade more than 88 billion shares
Yesterday at 4:34 am by Rocky