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The transition to the free market needs a suitable legislative environment
20/12/2016 0:00
[rtl]BAGHDAD / Suha Shaykhli
stressed economic advisor to the Baghdad Chamber of Commerce , Dr. Abdullah al - Bandar , the transition to a market economy needs a suitable ground of supporting the private sector legislation as well as the employment of support the IMF and the World Bank , which Iqdmanhma to countries in conflict and create a state of instability have, including Iraq.
And knows the market economy as a capitalist economy and sometimes the economy free at other times being built on the basis of individual freedom and non - interference of the state in economic affairs of individuals, and sometimes described as an economy negatively because it does not allow state intervention because it is better to be the government 's margin of intervention while leaving the market to decide balance mechanisms and determine the supply and demand.
Terms shift
said Bander »Sabah» that the terms of the transition to a market economy for Iraq , for many the most important make it clear that a holistic planned economy, and the considerable scope for state intervention and the small percentage of the private sector.
He added, the most important of the other requirements is to avoid economic crises and the trend of the economies of the market in accordance with the rules and the basic pillars for the development of the private sector and advanced banking systems and financial system, and the stability of the general situation of the country.
And the stages of transition towards a market economy Bander explained the importance that monetary policy and fiscal policy be suited and appropriate to shift from the public sector to the private sector, noting the need to market a case study and then restructure the production units stalled, especially in the manufacturing sector in Iraq , which depends upon the economy depending
great.
He continued to take this big step to facilitate the path towards transformation, it must also be urged workers and officials in the private sector to benefit from the experiences of countries that turned to the private sector, stressing the need to retain the important sectors that affect people 's lives and make it to the state , such as the privatization of electricity, stressing the need to be it through the appropriate legal and legislative environment and a sound ground.
Sees economic affairs are concerned that the Iraqi economy after 2003 became without obvious features, and dealt with a number of conferences in some detail, but so far have not been self - economic system of the country form, and is not based on an economic theory
known.
He noted al - Bandar , that the objectives of the transition to a market economy depends on the re - distribution of roles between the public and private sector, with the roles of government intervention and the role of the private sector in Iraq is clear, pointing to the need to involve the private sector in the economic file with the Department of
Government.
And the role of the private sector and the transition to a market economy and its role in mitigating the effects of the budget deficit - Bandar said , we head towards a market economy to reduce the deficit in public budgets which would encourage local and foreign investments to work in the country to the fact that market economies are based on leaving the freedom to investors at work , so we aim to encourage private investment rather than government in certain economic sectors.
It explains that private sector resources used better as we demanded after 2003 by turning to the private sector, adding , but the experiences during 13 years have proved that the private sector in Iraq could not exercise its role in a real weakness or the intersection of the legal and administrative legislation that paves the way for the emergence of the private sector, also , the banks did not play a role foundation for the private sector, as well as projects that need big money so we find that the Iraqi private sector was oppressed in this aspect.
He pointed to the need to quote international experiences in this field and apply what suits them with the economic situation of the country such as Malaysia and East Asian countries because these successful experiences encouraged countries that were pursuing a planned systems to switch to market economies to rescue
its economy.[/rtl]
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