Saturday, July 30, 2011 10:02
[Baghdad - where]
Economist warned of Iraq's commitment to delivery of new loans and seeking to raise its oil production will lead to very large problems on the national economy in the future.
Suri said Majed told all of Iraq [where] that: "Any new commitment at the present time to Iraq in terms of loans will lead to very large problems, especially in the case of non-application of the oil investment program and the absence of economic and financial management of Iraqi funds."
He added that "the pursuit of the Iraqi government to increase production and imports and oil with high risk also in terms of prices and increase supply in global markets with the possibility of reduced demand in addition to the likelihood that the United States to a major crisis because of public debt due to the recent economic crisis, which could lead to lower prices and thus lead to reduce Allwaradat. "
He said the picture that "the term payment on credit is true and Alasah as loans because the payment on credit used in business dealings and not in investment operations, which result in the latter any loans several obligations, including determination of the guarantors, which are often international banks have international standing and expertise."
He continued that "the agreements concluded between Iraq and South Korea, which has not yet been implemented because not to give the necessary guarantees for projects that will take Korea to undertake implementation and the same situation will be repeated for China because it is called in turn, guarantees of loans," attributing the same time "not to attract the Iraq of foreign investment on Despite the legislation, many of the laws on investment to the lack of cultural awareness as well as investment to the administrative bureaucracy in place in most departments and state institutions. "
This has visited Prime Minister Nuri al-Maliki at the head of the delegation of high-level ministerial to South Korea and China during which he held an economic agreement between Iraq and those countries included the construction of apartment complexes to pay forward and set up power plants in a number of areas of Iraq.
The government announced that the Cabinet decided to approve the draft law on reconstruction of infrastructure, pay on credit and forwarded to the House of Representatives and the proposed total cost is estimated at (37) billion dollars / End 7 - r
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