Shaways: Iraq immune from the risk of global economic crises

Shaways: Iraq immune from the risk of global economic crises




05/28/2013 12:00 AM

A result of its dependence on oil imports, mainly

Baghdad morning

Reduce the Deputy Prime Minister for Economic Affairs Rose Nuri Shaways risk of global crises on the Iraqi economy, pointing out that the rents of the national economy, and its dependence on the financial-oil imports, has made the country untouched by the economic effects suffered by many of the world countries.

While Shawis pointed to continued immunity to Iraqi funds deposited in international banks, revealed the existence of new outlets to replace the Development Fund for Iraq (DFI).

Citing a statement issued by the Office of the Deputy Prime Minister and received "morning," a copy of it, the Shaways said during his speech at the Global Forum "to counter the global financial crisis," which was held in Kazakhstan last week: The financial crisis the world has seen in recent years was the biggest The most dangerous on the international economy, since the crisis of the Great Depression in the years 1929-1932, did not pan economies of countries, including Iraq immune from the consequences of the crisis, but the effects of that hit Iraq has been limited and has been largely absorbed.

He MP that the global impacts on the Iraqi economy has been contained by the stability of the proceeds of Finance, and the lack of investments him abroad as a result of the political situation, which has passed through the country for several decades, which led to alleviate this crisis, stressing that these factors gave Iraq position to play a prominent role in contributing to address many aspects of the international financial crisis.

At the time, who revealed which Shaways for Iraq was able to find alternative measures to the Development Fund for Iraq (DFI), pointed out that "the financial returns are protected by immunity of the Iraqi Central Bank, and support of the international community, especially the U.S. government and the U.S. Federal Reserve, as well as the fact that Iraq is witnessing a steady increase in fiscal revenues, "pointing out that Iraq has become a one of the most basic sources of energy in the world, but it can be an important factor in the stability of the global economy, and plays a prominent role in many aspects of economic development.

Among Shaways that effort in Iraq to pursue a policy of oil depends on the strategy and a clear focus directly on the techniques of modern art, which help to increase the production and of information technology and staff specialist to promote the reality of productive according to the new requirements in line with the priorities of the market, and this is crowned with success by attracting companies foreign and facilitate the task of the awarding of contracts and the full show flexibility by the government in banking and other measures in order to promote and encourage investments in the oil sector.

Turning Shaways during his speech to the vital role played by Iraq in the transition towards market economic policies, an approach that passed by the Iraqi Constitution, hinting that since the early draws country to mobilize the private sector's role and activating the role of national and foreign investment, was the light of that decision-making kit The legislation set of laws that aim to support the private sector to occupy its core in the process of economic reform and revitalize the economy and diversifying its sources, confirming continue to audit the development of legislation and economic programs aimed at opening up wide to encourage investment in Iraq that Iraq is desperately needed.

He alluded Shaways that Iraq continues tirelessly to fight inflation, unemployment and poverty, as well as maintaining the exchange rate of the dinar, praising the independence of the central bank, which managed to play a vital role in maintaining the value of the dinar against the rest of the foreign currency, explaining the determination of the country to adopt a Platform for investment practical and thoughtful to develop the sectors of industry, mining, agriculture, through the promotion of effective partnerships between the public and private sectors.

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