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Extensive discussions of financial and economic policy

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Extensive discussions of financial and economic policy

14/11/2016 0:00

BAGHDAD / Shokran Fatlawi
table Institute of the progress of the policies of development offered to debate the most prominent aspects of the financial and monetary Balseesten, as well as other topics of interest to the country 's economy , including the pension fund file, and the file private sector development through the establishment of a sovereign Council engaged by the government and businessmen in addition to other topics related to the importance of buy local product support for the national economy and to discuss several topics.

on the sidelines of an economic seminar which was hosted by the Finance Committee MP Dr. Magda Tamimi economic adviser to Prime Minister Dr. The appearance of Mohammed and a group of financiers, economists and businessmen.

Launch strategy and initiated the seminar which was attended by the morning »speech by Director of the Institute d. Mehdi al - Hafez between which the imbalances in the application of fiscal policy , which must be examined as to suffer several problems have affected the national economy and reduced its effectiveness, noting at the same time to the private sector , which is still suffering , despite the launch of the strategy for its development in 2014 , which so far has not been applied file.

Hafiz and called for the need to form a sovereign Council , the government and the private sector and businessmen involved is financed from the state budget to promote this important and vital and supportive of the economy sector.
He said Hafiz to the Central Bank , which has become difficult as a result of selling the currency situation, wondering at the same time about the reasons for the decline of the Central Bank reserves from $ 80 billion to $ 47 billion, pointing out that the international monetary Fund stressed the need for monetary policy control in Iraq.

It is said that selling the currency file at the central bank presented to the House of Representatives earlier, and formed a committee to investigate, the Commission issued a report confirmed that imports were not passing through customs or taxes, pointing out that the problem still exists yet.

Draft pension law. For its part , he spoke of the Finance Committee member Dr. Magda Tamimi for several axes , very important ones project pension law, passed by the House of Representatives in 2014, which had been postponed until after the adoption of the budget being requires a lot of study and the use of specialists, as well as ask the question .. Do you have the right to high - ranking officials that received their more than salary even those salaries up to 50 or 60-80 MTD ?, revealing the presence of ministers and MPs earn three salaries under laws passed after 2003 , a non - thought out laws around well, calling for the need to reconsider some of the paragraphs of those laws without prejudice to eligible rights .

Loss of money: and concluded al - Tamimi said the loss of money the country focused in three directions , including phantom projects receiving contractors under which 30 percent of the implementation of the project, while the second trend involves the sale of currency, citing the need to reduce the indiscriminate importation and adoption of the principle of the curriculum import in accordance with the development requirements the need to develop controls to regulate the import process that the permeability be import license one year and not three months, noting that the other direction for the loss of money is the item Martyrs government deputations and how much money spent on those issues to the extent that there are training sessions in the simple areas can take place within the country, Not to mention the case of cars and the accompanying exchange of billions for fuel and maintenance phantom that strain the budget.

Loss of harmony - As a member of the Baghdad economic Forum d. Majid picture has said that fiscal policy is part of economic policy and the recent absence, it must sign a state of confusion in the financial policy and this is what is happening now , which led to the loss of harmony between fiscal and monetary policies.

The Acharalsouri that the general concept of fiscal policy is the budget afterthought this concept is broader than the fact that it includes tax policy , public debt , and regulators and the executive.

promised Suri information Management system Balmertkz foundation for a sound financial policy , pointing out that the absence of lead in the inability to adjust the policy, in addition to the confusion in financial policy leads to confusion in the preparation budget through some of the items is not feasible.
including , but not limited to the principle of reducing public spending in relation to expenditure investment and operational compared to the year 2016 , which amounted to about 12 billion dinars, and the second paragraph in the budget is to increase non - oil resources, but in the fact that these resources are dropped compared with the year 2016 these revenues were more than 14 trillion dinars in 2017 is expected to be 11 trillion dinars there is chaos in the estimates .. adding that the 2017 budget imposed a tax on salaries by 4.8 and the sum of these deductions up to more than two trillion dinars , and these extra revenues and other from taxation.

The International Monetary Fund - for his part , the financial advisor to the Prime Minister Dr. The appearance of Mohammed Saleh in his speech that the pensioners fund Savels completely in 2021 for lack of contributions with the growing number of retirees in the coming years, pointing out that the International Monetary Fund when auditing the file retirees discovered that numbered 50,000 retired annually, but in practice found that there is a difference 40 000 degrees came from many, including the prisoners and martyrs laws and so the laws.

The participants criticized the absence of the Ministry of Finance for all economic activities that concern the country 's economy as well as their emphasis on the need to pursue the policy of reform brought by the Prime Minister and the restructuring of the State, and the adoption of national tender that determine governmental entities principle the purchase of the national product as a policy to support the national economy.

Integrated economy - executive director of the Association of Iraqi private banks Ali Tariq said that the development of financial systems in Iraq imperative to create a solid integrated economy, pointing out that Iraq from countries that awaits large volume of work in all production and service sectors, He pointed out that the Association is working on human resources in the banking sector development through regular training plan aimed at workers in the public and private sectors.

He noted that the discussion of these things , the presence of those in charge of financial systems in the public and private sectors is very important where you can determine the next course of action needed by the country, and the advancement of fiscal policy in the country is the richest in the world is important, especially as the international effort sophisticated studying micro governing the movement of money and the business environment carefully before entering any country, and here we have to pick ourselves up Balatnin parallel action we seek economic development

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