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Measures to reform the monetary policy

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1 Measures to reform the monetary policy on Thu Nov 12, 2015 4:49 am

Rocky


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Measures to reform the monetary policy

 

11/12/2015 0:00

BAGHDAD Alaa al-Tai
said a senior government official seriousness of the government in the application of tariffs and address the problem of tax evasion and the formation of committees for the development of tax and customs system reform mechanisms within the financial and economic reforms that have focused on the structure of expenditure and revenue and support the private sector through the activation of the follow-up and approval needed to implement legislation system package.
He revealed the official in an interview for »morning», that directed the government to activate the tariff and to address tax evasion and support the private sector is part of the financial and economic reform of the country which depends on the rentier economy of return on oil, noting that the reform package focused on the structure of expenditure and revenue to the state and activate linked to tax evasion and the application of the tariff as a resource New supports the state budget a substitute for oil, especially after the decline in global oil prices and affected Iraq economically this Alhbot.waodh official, who preferred not to be named, said that «many of the decisions made ​​by the Council of Ministers already came for the application of these two sides, but they are met with objections goal disable the implementation of these important measures, which led to the formation of two committees, the first headed by economic adviser and the second headed by the financial advisor to the prime minister to take over the development of the mechanics of tax and customs system reform that can contribute to maximize the revenue of the state missions ».
He added that« The government launched the Private Sector Support Initiative b (5) trillion dinars, which are part of the economic reform », stressing that there is great emphasis by the government to support the private sector where he was preparing a package of reforms, along with follow-up system to be implemented as the Central Bank of Iraq showed great flexibility in support the economy in the country.
The source continued that «the granting of loans to banks specialized by 5 trillion dinars process and distribute evenly between agriculture, industry and housing sectors will contribute to get the economy moving and reduce the level of unemployment which issued the necessary instructions for the implementation of this matter, and that amount may not seem significant, but reflecting the impact good the possibility provided to the private sector in the light of the financial crisis of the country ».
He disclosed responsible for the existence of another resolution of the crisis cell as part of financial reform that includes the payment of financial dues to companies where it was agreed with the Central Bank to help provide the money that was paid for the first meal of them after that the Ministry of Planning and specify certain proportions between ministries and local governments.
He confirmed that work is under way in order to activate payment term program, where he was assigned to the Ministries of Planning and Finance to prepare an integrated report on this file to start work on infrastructure projects in addition to the decision to cancel the exceptions in the implementation of government contracts which was prepared by the Ministry of Planning, as well as for the implementation of government contracts standard documents.
and between the government official that the size of the amounts obtained from the wages of electricity of five trillion dinars annually, pointing out that there are many tax expenditures is active that can supply the budget in case been activated and Asthsalha, noting that the financial crisis has prompted the government to diversify its imports and stimulate the market economy form that reduces reliance on oil resources, which constitute a major source of revenues in Iraq, which has seen a significant reduction effect is clearly in the financial situation of the country.
A number of experts and specialists in economic affairs Iraqi fear of the continuing
decline in oil revenues, urging the government to look for solutions to the financial resources to finding alternatives Kalaatmad on agriculture, industry and stimulate tourism and investment sectors.

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2 Re: Measures to reform the monetary policy on Thu Nov 12, 2015 4:50 am

Rocky


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Very Happy

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