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Experts describe the economic events of 2014 as "dramatic"
31/12/2014 (00:01 pm)
BAGHDAD / Ghazanfar Laibi
Experts in the field of description economy events experienced by Iraq during the year 2014 as "dramatic" because of falling oil prices to low levels and the fall of the three provinces, however, the organization "Daash" and wasted a lot of development and investment in those provinces jobs and the loss of millions of dollars for the Liberation of those areas.
Experts stress that Iraq has witnessed during the 2014 precedent did not happen in the modern history of Iraq because of the government spending money outside the general legislative framework because of the adoption of the general budget of the country.
Oil loses 45% of its value
Says economist D.vlah behind al-Rubaie, "long", "The Economic premier event during 2014 is the decline in global oil prices, as it continued its decline to the threshold of $ 60 per barrel, thus losing about 45% of its value in the global market since June 2014.
He adds Rubaie saying that "the Iraqi economy if it were of diverse oil economies to the extent of the damage is relatively less," pointing out that "the Holocaust is that the economic policies put in place after 2003 has made this economy lacks economic diversification, making the oil revenues account for more than 95 % of total public revenues, as it was based estimate revenue in the general budget on the basis of non-conservative price reached $ 90 for the 2014 budget. "
Attention expert "The Iraqi government has acknowledged in meetings at the end of this year that the next year's budget in 2015 the size of $ 120 billion and 20 billion deficit, and adopted the price of a barrel of oil at $ 60."
Developments "dramatic" and staff "aliens"
He said al-Rubaie, saying that developments in 2014 is the (dramatic), calling on the government to "begin to seriously reconsider the enormous quantity of government employees redundant, reducing the three presidencies, Parliament and special grades and lower salaries knows spending fake the protections and travel officials."
And demanded "begin procedures to privatize the industrial, agricultural and tourism sector and even the service, especially the transport sector. And to allow the head of the local and foreign money."
Precedent did not happen in the modern history of Iraq
In the same context, expert says the economy d. Maytham Laibi "long", that "there are two major events promise to the most prominent in the economic field, the first and most important of, is not to approve the 2014 budget, which is an exceptional event that did not happen and once along the history of the Iraqi budget since the date of the founding of the Iraqi state, while the second is low Oil prices, in the last quarter of this year, and its importance comes from the heavy reliance of the Iraqi state oil. "
2015 budget includes a reformer entrance mandatory
He Laibi saying "Although for these exceptional events in 2014, but the effects will be on the budget in 2015," pointing out that "the most important implications is to make changes in the budget structure, by paying attention to tax and national savings and fees of some services, in addition to reduce some unnecessary expenses, which is the entrance to reform algebraic.
The government is spending money outside the legislative framework
Says economist Imad Abdul Latif, the "long", that "the lack of approval of the federal budget for 2014 precedent did not occur in the history of the Iraqi economy, talk / which means that the government has to spend public money outside the legislative framework governing it, and turned the general budget of the (statement Mali) did not surrender and will not be able to do so. "
Financial management "fantastic"
He adds Abdul Latif said, "before the adoption of the budget year 2015, and this is another precedent also did not occur before, and this is strange financial management style, has been transferred" development "to the variable cost in the general budget, as has been the fulfillment of fixed the cost, which is full of public revenues Exchange on operating expenses (and the most important item is the wages and salaries which swallows on average 52% of the general budget allocations in the last ten years. "
Opportunity for reform
He continues expert that "important event that accompanied the lack of adoption of the budget, is the drop in oil prices to very low rates, and that both events, involve positive feature huge, Iraqis and stirring a great opportunity to reform the dysfunctional economic resources for their own management track," pointing out that " These two events are linked perfectly, reaffirmed their chronic imbalances in the structure of the Iraqi economy, and an exposure of the inability of the current political leadership, and Takbtha horrible, and confusion, when trying to address such challenges. "
He pointed out that "the political economy of Iraq now passes (in theory) the best cases is, because it provides the right environment to re-examine all the wrong policies that have been pursued for six bitter decades, worked" leaders "after 2003, to devote serious drawbacks recent manifestations in which we live and the facts, and paying for now, ugliest picture possible, and heaviest cost can be unimaginable. "
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31/12/2014 (00:01 pm)
BAGHDAD / Ghazanfar Laibi
Experts in the field of description economy events experienced by Iraq during the year 2014 as "dramatic" because of falling oil prices to low levels and the fall of the three provinces, however, the organization "Daash" and wasted a lot of development and investment in those provinces jobs and the loss of millions of dollars for the Liberation of those areas.
Experts stress that Iraq has witnessed during the 2014 precedent did not happen in the modern history of Iraq because of the government spending money outside the general legislative framework because of the adoption of the general budget of the country.
Oil loses 45% of its value
Says economist D.vlah behind al-Rubaie, "long", "The Economic premier event during 2014 is the decline in global oil prices, as it continued its decline to the threshold of $ 60 per barrel, thus losing about 45% of its value in the global market since June 2014.
He adds Rubaie saying that "the Iraqi economy if it were of diverse oil economies to the extent of the damage is relatively less," pointing out that "the Holocaust is that the economic policies put in place after 2003 has made this economy lacks economic diversification, making the oil revenues account for more than 95 % of total public revenues, as it was based estimate revenue in the general budget on the basis of non-conservative price reached $ 90 for the 2014 budget. "
Attention expert "The Iraqi government has acknowledged in meetings at the end of this year that the next year's budget in 2015 the size of $ 120 billion and 20 billion deficit, and adopted the price of a barrel of oil at $ 60."
Developments "dramatic" and staff "aliens"
He said al-Rubaie, saying that developments in 2014 is the (dramatic), calling on the government to "begin to seriously reconsider the enormous quantity of government employees redundant, reducing the three presidencies, Parliament and special grades and lower salaries knows spending fake the protections and travel officials."
And demanded "begin procedures to privatize the industrial, agricultural and tourism sector and even the service, especially the transport sector. And to allow the head of the local and foreign money."
Precedent did not happen in the modern history of Iraq
In the same context, expert says the economy d. Maytham Laibi "long", that "there are two major events promise to the most prominent in the economic field, the first and most important of, is not to approve the 2014 budget, which is an exceptional event that did not happen and once along the history of the Iraqi budget since the date of the founding of the Iraqi state, while the second is low Oil prices, in the last quarter of this year, and its importance comes from the heavy reliance of the Iraqi state oil. "
2015 budget includes a reformer entrance mandatory
He Laibi saying "Although for these exceptional events in 2014, but the effects will be on the budget in 2015," pointing out that "the most important implications is to make changes in the budget structure, by paying attention to tax and national savings and fees of some services, in addition to reduce some unnecessary expenses, which is the entrance to reform algebraic.
The government is spending money outside the legislative framework
Says economist Imad Abdul Latif, the "long", that "the lack of approval of the federal budget for 2014 precedent did not occur in the history of the Iraqi economy, talk / which means that the government has to spend public money outside the legislative framework governing it, and turned the general budget of the (statement Mali) did not surrender and will not be able to do so. "
Financial management "fantastic"
He adds Abdul Latif said, "before the adoption of the budget year 2015, and this is another precedent also did not occur before, and this is strange financial management style, has been transferred" development "to the variable cost in the general budget, as has been the fulfillment of fixed the cost, which is full of public revenues Exchange on operating expenses (and the most important item is the wages and salaries which swallows on average 52% of the general budget allocations in the last ten years. "
Opportunity for reform
He continues expert that "important event that accompanied the lack of adoption of the budget, is the drop in oil prices to very low rates, and that both events, involve positive feature huge, Iraqis and stirring a great opportunity to reform the dysfunctional economic resources for their own management track," pointing out that " These two events are linked perfectly, reaffirmed their chronic imbalances in the structure of the Iraqi economy, and an exposure of the inability of the current political leadership, and Takbtha horrible, and confusion, when trying to address such challenges. "
He pointed out that "the political economy of Iraq now passes (in theory) the best cases is, because it provides the right environment to re-examine all the wrong policies that have been pursued for six bitter decades, worked" leaders "after 2003, to devote serious drawbacks recent manifestations in which we live and the facts, and paying for now, ugliest picture possible, and heaviest cost can be unimaginable. "
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