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Ongoing investment projects .. procedures in order to survive
7/28/2016 0:00
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Abdul - Zahra Mohammed Hindawi
produced the recent economic crisis that has hit Iraq, as a result of lower oil prices, alot of negative consequences on the developmental reality perhaps including high rates of unemployment, poverty and declining level of growth, and the most serious of this threat to the fate of the ongoing investment projects that the six thousand project exceeds the number increases mandated by the hundreds of billions of dollars.
be sure to talk about these projects drag us - like it or not to talk about solutions and treatments included to save a large amount of project development plans and thus spare the national development heavy losses remain repercussions to the decades to come, and that the talk itself take us to the impact of the private sector and the space it occupies under a state of sudden deterioration of the public sector , which gave him thedevelopment plans of dominance and louder on the implementation of economic policies, and the public sector succeeded in a lot of periods in the economic tasks performance under a socialist system, but that the identity transformed the economy of the socialist to capitalist Here becomes the impact of the public sector is an actor, as is the case in all capitalist countries, and these are the most important problems facing us today, with thetransition process by the Constitution , but that the public sector is still the number one player in the development process and that emanated from the character of the rentier economy through its reliance on a single source of resources is oil.
As a result of this blurring of vision with a ruling circumstances to which we referred at the beginning of the modern, this atmosphere has been reflected on the developmental reality through the weak contribution of other sectors of development and the decline in GDP and the survival of a single - Iraqi economy side supports by more than 90 percent on oil, making the process of economic reform faces tough problems with the sharp decline in oil prices and the occupation of «Daash» Earth was the product of that affected the national development plan 2013-2017 negatively, here has to be reconsidered number quite a few of the ongoing investment projects that were included in the annual investment plans and some of them have reached an advanced stage in the achievement exceeded the proportion of the (80 percent) and was the Ministry ofplanning and the position is not without difficulty and is trying to find solutions and treatments for this situation in order to proceed with the completion of projects for not financial allocations provide because of the scarcity of resources that are hardly clog theoperating budget requirements, and the investment budget under such circumstances, ithas become a kind of luxury, and the position will be harder certainly if the government decided to stop all projects , particularly it represents a significant economic importance, as well as that the money spent on them, Vaaagafha mean a waste of those funds, it was a product of reconsideration by the investment projects of more than 6 thousand project's edition that the deletion of which 296 projects up cost to around 10.6 trillion dinars , and these projects are either irrelevant in the present situation or it did not start out, while for the (2169) another project until soft costing (36.7) trillion dinars, and the total reduced amount (47.3) trillion dinars, are accounted for (29.5) percent of the total cost and constitute 40 percent of the Total amount of the remaining financial obligations of the (120.8) trillion dinars, while the remaining funds to be insured in the budget law in the coming years, according to the stages of implementation are 72 trillion dinars accounted for about 60 percent of the remaining financial obligations, accompanied these measures not to include any new projects and view some ongoing projects as investment opportunities or she carried out on credit or in combination to ensure deliverables, especially those with a dye service projects.
In this context , emerged another problem is financial receivables for contractors who carried out those projects have these benefits amounted to approximately eight trillion Iraqi dinars, and perhaps The action taken by the government to pay dues contractors by issuing Treasury bonds and 100 percent of the projects completion rate of more than 80 percent provided that the contractor to complete the project in full, and pay 40 percent of the projects under the percentage of completion for 80 percent first meal binding which pay 5 government to be trillion dinars of the total accrual during the current year, with therest paid dues in the fun for later next year.
but what about other projects, especially with the dye services like water, electricity, hospitals projects? Do you stop or there are procedures to deal with them?
I think that the government can use the private sector which has the potential not too bad, and I heard from the head of the Iraqi Business Council that it is ready to enter as investors , partners of the government in the completion of five major hospitals in anumber of provinces, and this represents a great opportunity for this sector, in order tobe a strong partner to the public sector in the investment process, so that he could enter a financier forward manner, and the same is true for Al Ahli banking sector, we have more than 50 banks waged all looking for investment opportunities for the development of their financial capabilities, and here looks opportunity available for this banks on theone hand, and on the other hand , in order to ensure the completion of the investment projects that will have a clear effect in supporting the economy and the provision ofservices to citizens.[/rtl]
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