Al-Kazemi's advisor presents 8 solutions to find additional resources outside the rentier framework
Economie Yesterday, 17:27
Baghdad - INA - Nassar Al-Hajj
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified, today, Friday, two pillars that guarantee investment and operational production,
while offering 8 solutions to find additional resources outside the rentier framework.
Saleh said, to the Iraqi News Agency (INA), that "the government's operation has taken over the financial leverage of the state with little actual productivity,
and it has reached the point of danger, despite the positive outlook for the rapid temporary financial accumulation of oil revenues in the current exceptional international circumstance."
He added, "Without finding a sustainable productive association capable of productive employment of unemployed human capital, this matter will remain the first headache for the Iraqi nation's concern in the future of development and economic prosperity."
He continued, "It is necessary to think from outside the box and with priorities that do not definitively depart from the active and honorable role of the productive national private sector and with social foundations, to be the gradual objective alternative to the current operational rentier model,
which is a very closed consumer context and effective in employment and
a drain on the country's resources prepared for production and the real accumulation of the country's wealth".
He pointed out that "the state in all its bodies faces a national and moral responsibility in working on the productive employment of the people's forces, and all constitutional bodies must strive to provide a decent and practical option with two pillars guaranteeing investment and operational production, the first:
linking the financing of government soft loans or guaranteed by the government itself and granted To market makers in the private sector, the number of workers that will be provided by the digital database of the labor market, and according to legal contracts that guarantee the rights of all parties, and according to a flexible, comprehensive and legally regulated investment program.
He continued: "As for the second pillar, it is the
provision of pension rights to all workers in the private sector, according to a parallel formula to the current National Pension Fund, and the Fund deals effectively and flexibly with permanent workers in the private sector,
provided that the state assumes part of the financing of the private pension fund and considers it an important part of its structure.
Support in the state’s general budget and an embodiment of the state’s socialism in supporting the market.
Speaking about proposals to provide support for the state budget outside the oil-dependent rentier framework, he stressed that
"Iraq urgently needs to
- think (from outside the current rentier fund), and
work according to models of partnership between the state and the social market first, and secondly to
find financing mechanisms that do not depend on revenues. The third is to
encourage private investment and according to clear long-term government policies, fourthly, to
provide flexible means in domestic financing such as dealing with sovereignly guaranteed bonds, fifthly, to
recycle funds from surplus units to deficit units capable of investing, and seventh is to
re-establish Recycling and allocating financial resources through banks or funds, and finally
heading towards work-running and income-generating activities.
And he concluded by saying, "What was presented falls within a future vision that revolves in the mind of Prime Minister Mustafa Al-Kazemi, when he referred to the depletion of the state's operating budget, which consumes depleted oil resources without a productive return."