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Parliamentary Economy: State Administration of investment mentality of socialism will exacerbate the financial crisis
Wednesday, December 10/1 December 2014 13:33
[Baghdad-where]
Committee on Economy and Investment parliamentary warned, exacerbated by the current financial crisis, the State Administration of the investment process, "the mentality of socialism."
Said committee member Mohammed al-Darraji told all of Iraq [where] that "the country is run today with the mentality of socialism and the state wants to inventory everything in her hand and this is not true and exacerbate the financial crisis."
"We must diversify the investment, but not the current classic way through attracting investors and reduce the risk to them and this is important and it's another to diversify sources of income to impose customs tariffs and tax increases and rationalize spending and give its own sphere of action of the sector in the country."
It is said that Iraq suffers from a difficult economic situation because of the shortfall in the budget year 2015, which is estimated according to Finance Minister Hoshyar Zebari at about $ 40 billion, to coincide with the fall in world oil prices, which make up 90 percent of Iraq's imports by reaching to around $ 62.
The Council of Ministers is working on the preparation of the budget and revised to reduce the ceiling price of oil from $ 70 to $ 64 or less to meet the deficit.
Zebari also revealed, for the intention of reducing his ministry's budget in 2015 to 120 trillion dinars, after it was 155 trillion dinars to reduce the deficit through a review of its provisions with the Ministries of State, and the search for domestic sources to reduce the deficit rather than foreign borrowing.
The Prime Minister Haidar Alabaa revealed in 29 of the last month, "the Council of Ministers to prepare a draft bank guarantee law and the establishment of an investment bank backed by the state and supported and provide him with the advancement of economic reality" .anthy 2.
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Wednesday, December 10/1 December 2014 13:33
[Baghdad-where]
Committee on Economy and Investment parliamentary warned, exacerbated by the current financial crisis, the State Administration of the investment process, "the mentality of socialism."
Said committee member Mohammed al-Darraji told all of Iraq [where] that "the country is run today with the mentality of socialism and the state wants to inventory everything in her hand and this is not true and exacerbate the financial crisis."
"We must diversify the investment, but not the current classic way through attracting investors and reduce the risk to them and this is important and it's another to diversify sources of income to impose customs tariffs and tax increases and rationalize spending and give its own sphere of action of the sector in the country."
It is said that Iraq suffers from a difficult economic situation because of the shortfall in the budget year 2015, which is estimated according to Finance Minister Hoshyar Zebari at about $ 40 billion, to coincide with the fall in world oil prices, which make up 90 percent of Iraq's imports by reaching to around $ 62.
The Council of Ministers is working on the preparation of the budget and revised to reduce the ceiling price of oil from $ 70 to $ 64 or less to meet the deficit.
Zebari also revealed, for the intention of reducing his ministry's budget in 2015 to 120 trillion dinars, after it was 155 trillion dinars to reduce the deficit through a review of its provisions with the Ministries of State, and the search for domestic sources to reduce the deficit rather than foreign borrowing.
The Prime Minister Haidar Alabaa revealed in 29 of the last month, "the Council of Ministers to prepare a draft bank guarantee law and the establishment of an investment bank backed by the state and supported and provide him with the advancement of economic reality" .anthy 2.
[You must be registered and logged in to see this link.]
