Economist proposes restructuring the structure of the economy
09:56 - 07/02/2019
Private - Mawazine News
The economic expert Ghadir Al-Attar stressed on Thursday the importance of restructuring the structure of the economy in accordance with the global context and reforming the business environment represented by procedures and laws and making it an environment conducive to private sector activity.
Al-Attar said in an interview with Al-Mawazin News, "The importance of the Iraqi economic reform in accordance with modern economic fundamentals, namely to provide the basis for moving from a central economy to a free market economy, and to encourage the private sector and develop it.
"Article (112) second stipulates that the federal government and the governments of the region and the provinces producing together to draw the strategic policies necessary to develop the wealth of oil and gas."
He pointed out that "Article 110 of the Constitution provides for the exercise of federal authorities exclusive powers in the formulation of economic policy and foreign trade, as well as the formulation of trade policy across the borders of the province and provinces in Iraq and the development of the general budget of the state and the formulation of monetary policy.
He pointed out that "the private sector has a fundamental role in all societies as the cornerstone of its economy, and that private sector projects are capable of eliminating unemployment as it will occupy the largest possible number of workers."
He pointed out that "this vital sector will solve many files, including the banking sector."
He pointed out that "all countries that rely on the market economy are private banks of high durability and have a large area of work to develop their work."
The Economic Commission, had called for the need to restructure the private sector to support economic projects