February 22nd, 2015
During a seminar held by the Institute of the progress of the development policies
Baghdad Suha Shaykhli:
The Institute of progress policy development seminar which discussed the «oil crisis and the economic situation», attended by a group of economists and money in Iraq, while emerged as the demands of the need to work on the restructuring of the national economy by about allowing him freedom of the rentier restrictions and unilateral.
The MP said Mehdi al-Hafez, on the sidelines of the seminar attended by «New Morning», that «the financial position of the country's ambiguous to the lack of a real picture of him», adding that «the Ministry of Finance does not does not have a spokesman does tell people the details of the financial position Not even the Central Bank ».
He Hafiz said «continuing decline in oil prices and the lack of suitable cover the deficit in the balance of payments alternatives will lead to a worsening economic crisis, especially with a tumble in the course of the oil agreement with the Kurdistan region, which means that there is a problem looming on the near horizon» .
He went on to say, that «the reaction of the government in dealing with the crisis was not as it should, but it was uncertain government in terms of moving towards delay salary payments and paid every forty days what is causing a crisis in the Iraqi street».
He called Hafiz need to work on the restructuring of the economy National about allowing him freedom from the rentier restrictions and unilateral through to make way for domestic and foreign investments in order to get out of the neck of the crisis.
He added that «restructuring file was less since 2004 but did not take any steps in this context».
He asked Hafiz about the fate of the available financial assets at the Central Bank, and why not take advantage of them in financing the deficit, saying: If the Bank Act does not allow it Fbalamkan reconsider this law in line and the economic situation in the country as well as for the money accumulated in the Development Fund for Iraq ».
He pointed out that «the economic problem in Iraq lies in the weakness of the state and its inability to impose its presence in the joints of life. »
For his part, an economist and money Behnam Elias Peter said that «in light of the economic risks associated with the decline in oil prices, we must take into account the precautionary measures to create a cumulative fund balance to counter these risks» .
He added that «inflation in Iraq is measured by the index of consumer prices is not exact, it was worthy to be measured on the basis of the general index», expecting that the inflation rate rises in Iraq to 9 per cent.
, and between Peter said «proportion adoption of the budget on oil up to more than 96 per cent and there are less than 4 per cent comes from sources other than oil », adding that« finance spending of wealth is not true because this wealth is the property for future generations Therefore, this type of financing is not an investment ».
and Peter said that «there are a lot of aspects of the subsidy which cause to cause pressure on the budget and these subsidies are electric power and support of state-owned and farmers and to support the benefits of government loans corporate expenses».
and Peter that «implicit GDP growth rate (9.2%) and the longer this indicator best indicators to measure the level of inflation on the economy level as the sum and that in the absence of the general index of the prices of the figure, with total share of crude oil rate in budget revenues (96.5%) and total other income ratio (3.5%), which is an issue that requires radical treatment ».
He said, that «the average the proportion of other income, including tax to GDP at current prices amounted to (1.6%) only brings us to a broad discussion to find out the role of the private sector ».
He explained «in order to achieve an increase in GDP at constant prices between 2012 and 2013 of $ (3162. million was on the economy that adds to the capital accumulation amounted to (26 043) million in fixed prices ».
He stressed that «no possibility of the economy that adds more than (25 347) million or much less».
In turn, the economist said Thamer Ugaili, that «the adoption rate more than $ 40 is not true for the possibility of landing Alasaraly lower levels, which reached under the export limitations that will not exceeding three million barrels per day ».
He Ugaili that «the problem in Iraq is in the administration», wondering: Who are the slides that Senallha damage the decline in oil prices, whether the budget deficit reached $ 35 billion?
The economic expert on behalf of Jamil Antoine, he said, that «there is an economic philosophy has been voted on by the Constitution, which confirmed that the oil is the property of the people».
He added that «sector construction depends Rated registration building permits and this picture does not reflect the reality of this sector because many of these businesses are not registered ».
He said the «structural sector up to 50 per cent within the industrial sector and all 5 building operations are recorded only 1».
He stressed that «tax suffers from poor judgment and there are no accurate statistics on the market and trade».
In addition, an economic advisor to the Prime Minister noted the appearance of Mohammed Saleh to the existence of a state of evasion Alkmarki as there are a lot of building permits unregistered and therefore failure to collect the proper taxes as a source sources of funding.
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