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The Iraqi Government is preparing to announce an economic vision to the year 2030

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The Iraqi Government is preparing to announce an economic vision to the year 20130

By شبكة الاقتصاديين العراقيين IEN Editors هيئة التحرير
- Posted in 24/09/2017

The Iraqi Government intends during autumn (which often start in the month of October features hello) launching economic vision that extends until the year 2030 with the aim of developing the country's economy through significant private sector facilities to take the lead in infrastructure development and create projects.

Iraq intends to implement economic strategy early next month, had unveiled the Premier's Office Manager, Noufal Abu Hassan, Shona (14 last July 2017) during his speech at the Conference on international coalition held in Washington and continued for several days.

And well, this strategy features explained that "in the medium and long term the Iraqi Governments will work with international organizations and experts and specialists to rebuild and build all Iraq and move investment and file plans for economic and financial reform and the fight against corruption."

He added that "despite the preoccupation with the war we continue to work with national and international expertise in more than two years to prepare a comprehensive vision for the next decade will be this fall's Iraq Vision 2030."

Open the door to private sector

For his part, financial adviser to the Prime Minister, Dr Mohamed Saleh's appearance, see economic Iraq until the year 2030 through increasing the private sector's contribution to GDP to 57 percent, adding that "Iraq will be in the year 2030 model for State welfare-generating institutions Socio-economic."

He added that "the private sector will take the lead in driving the national economy under the concept of a national humanitarian ideological includes equity in the distribution of income and wealth and promote competitive production guarantor of efficiency", pointing out that

"the State will partner and governing and Sergeant through infrastructure development Requiring legal laws and regulations and instructions that save rights leading to sustainable economic development and stability and maintain levels of comprehensive use of the labour force and natural resources and wealth and prevent speculation and counter the monopoly."

"From production to REI, system"

Iraq is a rentier States that rely heavily on revenue from its crude oil extraction since the discovery of the first oil wells in Kirkuk in 1927, this is a great form of financial budgets, especially after oil prices globally.

New vision for Iraq's economy, which the Government is trying to implement during the next 13 years until the year 2030, mainly include reducing the burden on oil revenues financial budgeting country it dramatically, and shift from dropping into my production.

This new orientation of the Iraqi economy, explained Vice President of Iraqi economists society, a beautiful name Antoine, who stressed that "Iraq's economic vision to the year 2030 requires polarization of Iraqi capital from abroad through special legislation and develop appropriate ground for investment and work in The country".

He stressed "the importance of legislation for retirement includes only employees in the private sector in addition to providing jobs for new graduates, who numbered more than 200, 000 people, noting that" the private sector attracts annually (450 500) a job."

He noted that "vision aimed at self sufficiency in the agricultural and industrial sectors and change the economics of REI to productive and not rely on oil production.

The difficulty of implementation

In return, the Economic Committee in the House of representatives, Iraq's economic vision application until 2030 as a result of the general situation experienced by the country since 2003 until now.

He said the parliamentary economy Committee member, Harith al-Harithi, that "existing aspirations to implement the Vision 2030 Iraq but there are several obstacles in its implementation including the failure of government departments related to the application of laws and legislation and possess some economic bodies political parties."

He noted that "the Government's actions are slow don't chime in with the size of the project posed by turning the Iraqi economy from dropping into my production depends on the agricultural and industrial sectors base class.

The implementation of Iraq's economic vision

According to the Ministry of planning, the strategic vision for the development of the Iraqi economy up to the year 2030, three stages leading to full partnership with the private sector and include the empowerment of the private sector through support, training, and open area in front of the investment issues.

It is said that the Iraqi Government recently adopted, on the private sector in vital projects in the country, especially in energy projects under the liquidity shortage faced by the Government for the implementation of those projects.

Iraq adopts that produces more than three million barrels of oil a day, its sales revenue to provide 95% of budget liquidity, with customs and tax revenues cover all other expenses of the State.

The Iraqi Government is resorted in the past two years to raise sales taxes on imported goods and traffic and other health services, with a view to strengthening fiscal revenue and reduce the size of the financial crisis facing the country, as a result of low oil prices in the world market.

Source: the post-news, 9/9/2017
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