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Respect for regulations promotes economic capabilities

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Respect for regulations promotes economic capabilities

29/8/2018 12:00 am
Dr.. Mostafa Kamel Rachid

The economies of the world have several advantages that make them compete for the best.

There are countries with a temperate climate to attract tourism, others with cheap labor and less stringent regulatory procedures that attract investment, etc., but to support economic indicators to be admired by others.

The economy should become popular and have a place in the markets.

First of all, the sense of responsibility should be realized by all without exception, the importance of the economy and the need to support it to gain the strength and the conviction that there is no escape from everyone standing to support the economy to maintain a decent standard of living and Data and satiated and self-fulfillment.

This is closely linked to the sense of government and population to respect law and order without exception or justifications.

The system is found in order to preserve the rights of individuals and institutions and not to infringe on them or abuse them.

At the same time, it accurately delineates the tasks entrusted to the government, individuals and institutions (commitments) in order to provide the opportunity for creativity and competition and achieve maximization in saturation and profits by consumers and producers within the economy,

Which leads to a peaceful and safe life for all, away from boredom and intolerance and blaming others for as long as everyone works in harmony under the umbrella of law and order.

We have recently had a belief, a culture and a dream that they are able to overcome the law and go beyond the regime, it has the power and respect! But this belief and culture contradict reality because they generate hatred and hatred.

These misconducts are an expression of the original customs that characterized our societies, as well as the rule of this kind of behavior that motivates others to transgress and disrespect, thus creating a social problem.

Therefore, the misconduct by the society is working to harm the economy and the root of its problems through low productivity and waste of economic and financial resources and then a significant decline in the indicators of economic efficiency that should be the economy to improve and recover from the problems it suffers.

The latest international economic studies confirm that there is a close and significant correlation between respect for the law and the application of the system and per capita income.

National income per capita is the most important economic indicator of welfare and improving the level of living.

Therefore, we will compare Iraq and Singapore in this area for the years 2015 and 2016 to identify the great difference between the two countries in order to fight the violation of the law and overcome it out of the economic crises suffered by the Iraqi economy, has secured the people and government of the regime as the only way to renaissance of the country and the nation.

The World Governance Indicators (WGI) adopted by the World Bank are used to express the commitment to respect the system. These indicators are closer to (2.5-) are weak and the closer they are (2.5) the stronger and the rank as they approach (0) About (100) be strong.

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The table shows indicators in Iraq and Singapore and the role of regulation in economic life.

The table shows 2015 and 2016. Iraq's average per capita income for 2015 was $15930, 2016 was $17370, This indicator reached 2015 (83760) dollars and in 2016 it reached (84500) dollars.

Which underscores the close relationship between respect for the system and average per capita national income.

Therefore, we should believe that the only way to get rid of economic problems and crises and to support and strengthen the structure of the Iraqi economy is to respect the application of the regime.

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