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Restructuring budget revenues depends on stimulating the productive sectors

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Restructuring budget revenues depends on stimulating the productive sectors

Samir al-Nusiri
Samir al-Nusiri

in light of the current circumstance and in the midst of the popular movement, economic and financial crises, and the challenges of falling oil prices and their instability And the repercussions of the Corona pandemic that our beloved country is going through.

That the Iraqi economy, through study, analysis, capabilities, and available factors, is able to overcome imbalances, deviations, and poor performance in the economic structure and achieve balanced and varied economic and structural reforms of the economy, with the premise of exceeding the objective and subjective economic conditions in the country.

and that. Motivating, encouraging and supporting the private sector in accordance with the vision of the private sector development strategy (2014-2030), which is based on the provisions of Article 25 of the Constitution, which states (the development of a vibrant and prosperous national private sector that is locally initiated, regionally competitive and globally integrated with the aim of achieving economic diversity, sustainable development and job creation) The necessary and appropriate step.

And the necessity to leave the rentier economy based on 93% of oil revenues and to develop other vital economic sectors, agricultural, industrial, and tourism through, restructuring state-owned industries and a gradual shift towards the private sector, and encouraging partnerships with local and foreign investors as well as reviewing the legislative environment for the work. Industry and the provision of infrastructure to secure the requirements of the work environment, and the expansion of the establishment of industrial zones.

Also, the promotion of agricultural production and livestock, the provision of effective supplies and treatments for fields and farms, maintenance of irrigation and drainage projects, support for agricultural products prepared for export, improvement of the quality of seeds and the state guarantee of prices, As well as providing support to small and medium enterprises and granting soft loans, ensuring the availability of the elements of resilience and economic advancement.

With my assertion that the country's suffering from its stifling economic and financial crises for the above reasons has not gone through it since the 1990s and the imposition of the economic blockade at that time resulting from the lack of sincere and real intentions for economic reform, loss of methodology and structural defects in the economy as well as mismanagement of public money And the failure to approve the general budget for the year 2o2o and the delay in approving the 2021 budget, not to mention the disposal of the country's money without rational economic and financial planning.

He pointed out that the reports issued by the World Bank, the latest of which are the latest report on the advancement of the Iraqi economy from fragility, indicate that Iraq and some oil-producing countries will suffer from the oil rent and the fluctuation of its prices, down and up, which will fail all the countries' development plans for the coming years without taking the initiative to Development of its other resources and diversification of revenue sources.

And since the country has the elements of resilience and economic advancement, which is represented by the fact that it has the fourth oil reserves in the world in addition to a workforce estimated at more than 10 million people capable of work, and experts in economics and money possessing academic and executive experiences, it can overcome the crisis and exit well, by providing A suitable work environment and an encouraging investment climate to attract private capital and contribute to economic development. And stimulating the productive sectors in agriculture, industry and tourism, and reviewing the structure and presentation of the general budget.

Here it is necessary to refer to the shortcomings of the legislative environment for managing the economy and the laws that regulate economic work, which calls for reconsideration and making fundamental adjustments for all of them in line with the new situation of managing the economy., To reduce unemployment that rose to more than 30 percent and the poverty rate that exceeded 30 percent, which are negative indicators indicating the worsening of the Iraqi economy crisis.

Number of observations 191 Date of addition 04/25/2021

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