Experts suggest solutions to reduce the waste of money and activate non-oil revenues
Investigations and Reports Today, 10:30
Baghdad - conscious - Amna Al-Salami
Iraq was badly affected during the first period of the Corona pandemic and the global closure, as a result of its dependence only on crude oil sales, whose prices at that time reached the limits of 10 dollars per barrel, which required the Iraqi government to search for non-oil revenues.
Specialists emphasized that the financial policy for managing the productive sectors plays a role in formulating the fiscal policy for Iraq.
The researcher in political and economic affairs, Nabil Jabbar Al-Ali, told the Iraqi News Agency (INA): "The government's options for increasing non-oil revenues can be divided or categorized into two parts.
The first relates to collection and fees, that is, transit fees and administrative services provided by some service institutions, as well as Obtaining fees for obtaining services at the Nationality, Passports and other departments, all of which are classified under fees and taxes.
He added that "the second category concerns production activities," noting that
"the government has many productive companies, which are estimated at more than 70 production companies that are scheduled to be profitable and generate money."
He stressed that "failures in the productive sectors cause a loss to the state and bear its burdens, and this is a big problem."
In turn, the economic expert Salam Sumaisem explained to the Iraqi News Agency (INA) that "the whole issue is how to manage the non-oil revenue file," stressing that
"due to mismanagement, rampant corruption and administrative slack, revenue can never be diversified."
She added that "revenues are many, but they are dispersed and have outlets for leakage due to the lack of an electronic government first, and because there is no unified mechanism to manage these files," pointing out that
"it is very possible that these funds will leak and go into the pockets of the corrupt and not be controlled as a result of the above reasons."
And she indicated, "the need for an electronic automation to control the border crossings and the departments in Baghdad, which have revenues for the state treasury," explaining that
"with the presence of an electronic government, non-oil revenues can be controlled."
For his part, the economic expert, Mustafa Akram Hantoush, told the Iraqi News Agency (INA): "There are semi-oil revenues that are completely untapped, and that Iraq exports daily 3 million and 250 thousand barrels of oil, and what it exports through oil tankers is 90%, and this costs the state." Iraq is a huge sum.
He added that "corruption prevents the establishment of an Iraqi naval fleet and the dispensation of tankers that cost the Iraqi state billions of dollars," stressing that
"it is possible to buy a real fleet that provides the Iraqi state with 4 billion and 500 thousand dollars in oil."
And regarding the port of Al-Faw, he stated that "the Iraqi people do not imagine the size of this port and its economic idea, and that it is a sea of oil, but in a commercial way," noting that
"Iraq needs to complete the port of Al-Faw and establish the Basra-Turkey railway."
He added that "Al-Faw port needs at least 8 companies instead of one to speed up the completion of the berths," adding that
"the volume of trade through the port may reach 65 to 70 billion dollars."
He stressed that "Iraq is the center of global trade and needs strategic plans in all fields to bring about an economic revolution."