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A statement from Al-Kazemi's advisor regarding the recovery of the Iraqi economy

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A statement from Al-Kazemi's advisor regarding the recovery of the Iraqi economy

economy   10-12-2021, 14:35  
Baghdad - conscious - Nassar al-Hajj

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, expected today, Tuesday, the recovery of the Iraqi economy during the next five years, and the production of crude oil exceeding 6 million barrels, while stressing the need to legislate the partnership law between the state and the private sector.

Iraqi News (INA): "The Iraqi economy will coexist strongly with the cycle of oil assets, as the global demand for hydrocarbons will increase with the high growth rates in the global economy, and the epidemic represented by the Corona pandemic will enter the cycle of inactivity and inversely with the growth of energy markets."

He added. "Based on the foregoing, Iraq will produce more than 6 million barrels of crude oil, boosted by undoubtedly high returns," explaining that

"such a major change in Iraq's financial flows undoubtedly requires a broad and effective development programme."

That "this development program is implemented in two tracks: the

first is to reshape Iraq's infrastructure in its strategic cross-provincial forms, especially ports and regional networks. Railways, land transport and the digital economy, and

the other is summarized in the priority of developing service infrastructure for regions, cities and towns through the availability of government investment in the basic service quadrant represented by drinking water, sewage, electricity and paving roads.”

Monitor the appropriate allocations in the investment budget, which should be described in detail in a solid five-year plan for the reconstruction of the physical infrastructure.

He continued: "As for the second development path, it turns to the role of the state in developing market institutions, both production and service,

which requires the development of the legal and regulatory infrastructure that promotes market institutions by spreading partnership between the state and the private sector and entering into the social market system,

which requires spreading a system Facilitating the registration of companies,

and this topic is linked to two motivating things,

the first is the provision of soft development financing through a government or government-supported national development fund.

Loans are granted to emerging and successful companies, even if they are small, provided that successful companies obtain tax exemptions whenever the added value of the activity increases and the operating rates increase.

He pointed out that "the second matter is the reorganization of the labor market towards limiting the labor force, describing its skills and the geography of its work, by creating a national number and an advanced digital system to identify workers in the private sector, provided that it is prepared in cooperation between the Ministries of Planning, Labor and Social Affairs.

To draw a map of the Iraqi labor market and to know the functions of supply and demand and the stability of the labor market by identifying employment levels and actual unemployment rates.”

It also requires generating an atmosphere of homogeneity in the labor market itself between workers in the private sector and workers in the state, which requires the availability of high flexibility in the transition between jobs between the two sectors and according to need,

provided that there is a joint and unified national pension fund for workers in the state and the private sector alike without discrimination

As well as providing acceptable limits for the homogeneity of wages and salaries according to the skills of workers in the state and the market.

He stressed that "it has become appropriate to legislate the law on partnership between the state and the private sector that has been submitted to the House of Representatives for years to speed up its legislation, provided that it provides a balance in rights and duties between the participating parties in full swing and enhances governance, productive efficiency and operating the economy with a strong push that you will inevitably need."

Really the next five great years of development for Iraq."

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