Thursday , February 12, 2015
Called Iraqi Is Minister Haider al-Abadi Iraqis today to be patient in order to overcome the financial crisis that is currently taking place in Iraq, stressing that his country is not bankrupt and is able to overcome this crisis, while noting his deputy Shaways that the war against Daash and the presence of two and a half million displaced people pose a significant challenge to the development of the Iraqi economy . Abadi said in a speech at a conference in Baghdad Thursday to launch the development of the Iraqi private sector strategy that the reform and development of this sector is one of the terms of the government program and is therefore determined to proceed with its implementation in order to reform the country's economy which is currently facing serious challenges. He noted that his government Astrtejh to develop and support the private sector include six phases, beginning with the restructuring of state-owned public companies to be more efficient and help support the local economy. He said the absence of any plans of the government to dispense with workers in these companies, but is committed to the care and pay their salaries. He noted that even the government continue to support these productive institutions and the continuation of the salaries of their employees, these are obliged to work to develop and increase productivity so dysfunctional the case to collapse and thrown into an arena stressing the importance of these institutions in supplying the Iraqi economy, domestic production, which helps to strengthen unemployment. He Abadi said the strategy, which was launched today also aims to create a partnership between the state and the private sector through the re-structure and reconstruction of infrastructure are pushing the private sector to integrate with the economic cycle of the state. Added to stop importing these two Almentugen provide great expense to the state budget and then exported to abroad that the state is determined to develop the agricultural and livestock sector in order. He said work on the development of the banking sector, who said he has not seen any development over the past eleven that followed the change in the country. He said that to achieve these goals, Iraq needs to specific legislation and laws in support of the private sector, adding that his country may be headed to the competent international organizations to assist them in this field. He Abadi said his country is facing a financial crisis as a result of the fall in global oil prices since it depends on the proportion of 85 percent of their resources on oil, causing negative consequences which the country has lost half of its resources, affecting endeavors to develop the Iraqi economy, but noted that this case will be accidental. He stressed that Iraq is not bankrupt the state and it is capable of capabilities and wealth and their children to overcome this crisis .. financial and called on Iraqis to be patient on this difficult financial situation which traversed their promising breakthrough close will be able to the country from which to overcome these difficulties and overcome the requirement to insist on achieving reform Economic. Abadi stressed that his country will emerge from its current crisis economically, politically and security stronger and will increase work opportunities and improve the income of its citizens.
Huge challenges facing the Iraqi economy
either the Deputy Prime Minister for Economic Affairs Nuri Shaways he pointed out that the road seems long until Iraq is able to reform and development of the national economy. He said that Iraq faces the challenge to continue relying on oil resources with low world prices combined with weak private sector and limited private banking sector efficiency and rising unemployment and illiteracy, which include 20 percent of Iraqis.
He explained that the most serious challenges facing the Iraqi economy currently is prohibitive to war and military expenditure against state regulation of the Islamic "Daash" and needs two and a half million displaced people fleeing from their areas experiencing these military operations .. explaining that these challenges will impact negatively on the reform of the Iraqi economy plans.
He said: "We are keen to strengthen the confidence of the world of the Iraqi economy and the accompanying great achievements "explaining that" within this context, we went to make a financial administrative reform and comprehensive restructuring of the banking system to mobilize the developmental role of the process, and in proportion to the new economic trends of the procedures and the necessary steps to make the economy more responsive to the requirements of the launch of a comprehensive development process. "
He said Shaways "We faced difficulties great challenges for reform, including the security policy, which times out of the country, and its exposure to the worst terrorist attack claimed the lives of tens of thousands of victims and martyrs, and inflicted heavy losses to the economy and hampered the construction and development process for several years the circumstances. "
He noted that "the road is still long to achieve the desired reform goals economic, but there are still significant challenges in front of the Iraqi economy, as indicated national development for the years 2013-2017 plan and the challenges represented by the continuation of a rentier economy and its dependence on the extraction and export of oil, the lower the percentage contribution of the sectors of industry, agriculture, energy and tourism supply domestic product overall. "
For its part, stressed Lizzie Karan Deputy Representative of the Secretary General of the United Nations in Iraq, the country's need for effective plans to improve the economic, security and political situation even Ainsr Iraq, but he passed to the bank of security by reducing dependence on income oil alone to promote the state's resources.
Iraq was ratified in 29 of the last Cdahr on the country's budget Public current 2015 value of $ 115 billion, and a deficit of $ 22 billion, and adopted the $ 56 per barrel of oil, and set aside $ 26 billion for security and defense.
The total budget value of 119 trillion Iraqi dinars (about $ 115 billion), based on $ 56 per barrel of oil, After reduction of $ 60, as it was in an earlier draft of the draft budget, with a deficit of $ 25 billion dinars (about US $ 22 billion).
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