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Establish an independent body contributes to the transition to a market economy

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Establish an independent body contributes to the transition to a market economy

08/5/2016 12:00 am
Baghdad-Iraq's PM Chai

Importance of founding Economist suggested an independent body to manage economic affairs to consist of 50 percent of public-sector experts and 50 percent of the private sector and this body with advisory capacity and independent planning practice associated cabinet and be chaired by a private-sector economists.

Economist Samir Abbas, speaking for Al NassiriĀ» morningĀ»: many States have experienced the same experience in transition economy exceeded quietly and smoothly and operational mechanisms are supported through the involvement of public and private sector experts.

Managing the economic wheel.

He noted that giving the private sector a leading role in managing the economic wheel can overcome imbalances with Brown and the central economic policy and help the ward within a central goal is to transition to stable and free economy and adopt mechanisms and ways and clear procedures.

He noted that the process of economic advancement requires a campaign to rescue all production and service sectors, pointing to the strategies and initiatives exist but aren't marked significant positive results over the past years, many considerations in the forefront of planning and legislative and operational complexities.

The proposed body functions

Al Nassiri returned to say: one of the most important tasks of the proposed mechanisms and contexts and instructions and review the legislation to move the economy from its current hybrid stable economy working mechanisms of the market economy.

And added about the transition process for the country's national development until 2030 and what rhymes with strategies for private sector development (2014, 2030) and consistent with paragraphs of the Constitution (a, b, c, d III and on encouraging a shift towards private sector) of the Government program.

Al Nassiri urged the need to rethink the mechanisms and policies and action points in light of economic and financial alazmhh variables country, through the restructuring of State-owned industry, the shift towards the private sector, providing the necessary infrastructure and the promotion of agricultural production and livestock, as well as the development of trade and banking, with emphasis on the possibility of the next stage of installation aatbaralsentin Foundation proper construction of all episodes.

Plans and foundations and mechanisms

Al Nassiri promised plans and foundations and operational mechanisms and programmes for the support and encouragement of the private sector, wizards to overcome deficits in public budgets, accompanied by new financial and monetary policy and the financial and banking sector restructuring to comprehensive reform, with emphasis on restructuring the Government banking sector according to the memorandum signed with the World Bank, not to mention the private banking sector support and enhance current abilities.

And he stopped the Economist Samir Al Nassiri on the importance of economic cooperation policies with Arabic and foreign States and balanced foreign economic relations, as well as policy development and development of internal and external trade for the positive impact on the economic situation.

Al Nassiri concluded his speech by saying: to build a sound national economy involving all sectors would lead the country out of the economic crisis and the increase in per capita income and raise purchasing capacity and increase income.

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