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The three economic errors
20/10/2016 0:00
[rtl]Dr.. As Abdul Hadi
why the economic situation is still weak? And why has not changed as it should be in acountry with such wealth? These questions are among the most frequently asked questions that are often put on us by our students and our friends, everyone was dreaming of a new economic reality radically different from what it is like before the fall of the dictatorial regime, blockade had been lifted and the oil returned flowing and prices reached the acceptable limits, and import open and salaries increased What 's theproblem? the
problem began with the taking of three economic decisions "wrong" (in the civil administrator time) are still suffering from the negative and IMHO its repercussions will stay well until processed and these mistakes are the first to raise the tariff for imports, which was intended to provide goods for Iraqis cheaply and compensation for years ofdeprivation (economic sanctions) as well as re - economic relations with the outside world, but that has led to the killing of the domestic industry 's nascent one hand because of commercial dumping, as well as a waste of cash our reserves because of thepoor quality of most of the imported goods on the one hand the
other. The
second error is raise the Iraqi dinar exchange in order to improve the income level of the price, but interest was limited to the category of traders and speculators after the successful "business cartels" are in control of the financial cycle with the help of some bank branches, and error the third was the lifting of the pay scale suddenly and significantly from what it was before 2003.
and this led to an increase in consumer domestic demand encased externally and then the general level of prices rising and thus lower the income level of the
real.
Christian coconut head of the IMF Mission for Iraq says we have made good progress towards the completion of the first review of the agreement to prepare the credit, which provides financial support for the next three years, this is good but temporary cure and we will stay and to stretch an invisible suffering from problematic unilateral returns and inflation , government spending , and this dilemma requires a review of past mistakes and processed with an economic vision for the future based on the diversity of the fiscal revenue
of the country.[/rtl]
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