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Errors in the federal budget for 2015 and proposals processed (3. monetary circulation and to insist on the ownership of the Iraqi state) 3-6
Ward star
Sunday, January 4, 2015
Since 2003, the Iraqi government and public budgets rely on steady cash cycle summed up in a simple on the following four stages: -
1. The Ministry of Oil and oil export revenues received in foreign currency to the Ministry of Finance.
2. The Ministry of Finance to deliver foreign Central Bank of Iraq Currency exchange for local currency and the price of the official exchange rate, as well as to retain a portion of the foreign currency to finance the external spending.
3. The Ministry of Finance is working to finance budget expenditures of local currencies.
4. The Central Bank of Iraq to sell part of its assets in dollars to retrieve the local currencies of the Iraqi market.
This is the wrong course inflicted the heaviest damage to the Iraqi economy and led to the loss of hundreds of billions of dollars at a time must remain in the Iraqi Central Bank reserves, it is true that external spending must be financed from oil revenue because it needs the foreign currency, but it is not true that the Central Bank of Iraq to sell Dollar to recover the local currency of the market (for reasons we do not want to go into detail in this article), we do not know who is who put the wrong course and how he persuaded officials in previous governments to adopt the local currency recover assets subject to smuggle out of the country such as the dollar policy? Which lose Iraq wealth and led to widespread corruption and the difficulty of corrupt accounting or recover the stolen money and shift in consumer behavior of the citizen towards imported materials, the fourth stage of the sale of the dollar by the Iraqi Central Bank to recover the Iraqi dinar must be stopped altogether and must be provided for in the budget law Federal.
Some might say that the proposed budget of $ 200 trillion dinars, of which 170 trillion in local currency in 2015 will lead to flood the local market in this currency should be recoverable alternative cycle, what will the government offer to redeem the currency of the market and re-used again without pressing the CBI or subtract the dollar or gold for sale?, the solution is very simple, which is that the state must give up some of its assets to sell to recover the local currency, and these assets include land and real estate companies, etc., and this is done through privatization and IPO management in the market to buy with policy significant funding in addition to sales operations, and be mentioned in this regard, one of the elders of the Gulf deceased when faced harsh criticism for having sold land to investors individual sarcastically, that these investors will not be able to smuggle these lands outside the country, although the recovery of the Iraqi dinar before the local market requires the use of alternatives to non-smuggling and the best alternatives is to reduce the state's assets for the Liberation of Iraq's economy, but the 2015 budget acted deduced from it fell into another error.
It legacies in authoritarian thought to increase state ownership, whether royal or a socialist or totalitarian ideology So we see that the struggle for power to be sharp or bloody likely, but at the same democratic approach countries, the government ownership is at its lowest point and is the focus of this approach the regulatory authority therefore be a power struggle less severe, it has become known that the main difference between the developed and underdeveloped countries is by ownership, the greater state ownership increased backward, I inherited the Iraqi state since the days of Ottoman rule, the desire to own property, so successive governments have focused since the founding of Iraqi state in 1921, the bulk of their attention on increasing its ownership until socialist totalitarian rule came in 1968 to increase the interest and give himself broad powers to confiscate everything and without compensation.
It was anticipated after 2003 must abandon the Iraqi state on parts of the property, especially since the Iraqi constitution, had confirmed to abandon totalitarian thought and the trend towards free market economy, which one of the first requirements of the Royal editing, but what happened is the opposite did the state give up ownership but increased by a clear from insisting on the complexity of the law on the sale and leasing of state funds, and estimates that indicate the Iraqi state is among the most ownership of the countries in the world, and it has occurred in trouble serious as the property increase leads to increased responsibility, so we see the state that own virtually everything in Iraq of farmland, real estate and wealth in the ground, hospitals, schools, streets, bridges, parks, marshes, transport vehicles, aircraft, airports and so on, may become responsible for the management of this large property so it is the largest owner and the biggest investor and the largest operator of the unemployed and is responsible for the provision of services.
Due to the fact that the current government is subject to the Constitution and elected not absolute powers possessed by the dictator or absolute ruler they have signed a hammer under pressure from the public the real owner of this wealth, we did not find in front of only solution
Employment and Employment even became government apparatus flabby and unable to move and was beyond repair and the growing power struggle because it means the acquisition of this vast property and became the national economy is disabled, if there are good intentions for the liberation of the Iraqi economy, the action requested is the sale of this property was gradually converted into sectors mixed and private within a clear and correct policy and this is what did not heed his federal budget, but has continued to focus on increasing state ownership in all its clauses, there are 99% of the spending to be dedicated government of the device and 1% dedicated solely to support the purchase of rice and wheat in the downer policy to transfer the burden of farmers to the Iraqi people rather than the development of local productive sectors, and the strangest thing in the budget is an article that talks about the establishment of a Higher Council for ages three months, a strange return to the past and dedicate to the concept of government dominance over the course of the economy and do not know exactly how to add a new body with the survival of the competent ministries as they are , it was better for the budget to confirm the formation of the Council of Economic Reform in the true sense, not in the sense that previously provided by the government was rejected by the House of Representatives, which was deformed and sterile, and a mixture of several forms contradictory.
The partial sale of state property must be within the wise management of privatization and requires the development of the Iraqi capital market requires a sound and wide-financing policy will result in activation of the local economy and create millions of new jobs and will lead to a voluntary transfer of government jobs to the private work and will lead to a cycle permanent between spending the Iraqi dinar and recovery of the market rather than austerity policy failed and will turn Iraq into an attractive country for foreign funds wishing to invest, to imagine a state like wealthy citizen who is facing a cash obligations and Atkvah liquidity obtained from the revenues to meet these obligations, the first thing to do is to sell excess of its needs for the provision of liquidity and is not reasonable to resort to starve his children and his family, as do the budget for 2015, some may think that government funding for the state budget through the sale of assets and hold dollars in the Central Bank of Iraq will lead to contention importers in the market dollar Local and therefore its price rises and decreases the value of the Iraqi dinar, which leads to a rise in the cost of living for the Iraqi people, and this is another mistake by the 2015 budget will eat later.
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Ward star
Sunday, January 4, 2015
Since 2003, the Iraqi government and public budgets rely on steady cash cycle summed up in a simple on the following four stages: -
1. The Ministry of Oil and oil export revenues received in foreign currency to the Ministry of Finance.
2. The Ministry of Finance to deliver foreign Central Bank of Iraq Currency exchange for local currency and the price of the official exchange rate, as well as to retain a portion of the foreign currency to finance the external spending.
3. The Ministry of Finance is working to finance budget expenditures of local currencies.
4. The Central Bank of Iraq to sell part of its assets in dollars to retrieve the local currencies of the Iraqi market.
This is the wrong course inflicted the heaviest damage to the Iraqi economy and led to the loss of hundreds of billions of dollars at a time must remain in the Iraqi Central Bank reserves, it is true that external spending must be financed from oil revenue because it needs the foreign currency, but it is not true that the Central Bank of Iraq to sell Dollar to recover the local currency of the market (for reasons we do not want to go into detail in this article), we do not know who is who put the wrong course and how he persuaded officials in previous governments to adopt the local currency recover assets subject to smuggle out of the country such as the dollar policy? Which lose Iraq wealth and led to widespread corruption and the difficulty of corrupt accounting or recover the stolen money and shift in consumer behavior of the citizen towards imported materials, the fourth stage of the sale of the dollar by the Iraqi Central Bank to recover the Iraqi dinar must be stopped altogether and must be provided for in the budget law Federal.
Some might say that the proposed budget of $ 200 trillion dinars, of which 170 trillion in local currency in 2015 will lead to flood the local market in this currency should be recoverable alternative cycle, what will the government offer to redeem the currency of the market and re-used again without pressing the CBI or subtract the dollar or gold for sale?, the solution is very simple, which is that the state must give up some of its assets to sell to recover the local currency, and these assets include land and real estate companies, etc., and this is done through privatization and IPO management in the market to buy with policy significant funding in addition to sales operations, and be mentioned in this regard, one of the elders of the Gulf deceased when faced harsh criticism for having sold land to investors individual sarcastically, that these investors will not be able to smuggle these lands outside the country, although the recovery of the Iraqi dinar before the local market requires the use of alternatives to non-smuggling and the best alternatives is to reduce the state's assets for the Liberation of Iraq's economy, but the 2015 budget acted deduced from it fell into another error.
It legacies in authoritarian thought to increase state ownership, whether royal or a socialist or totalitarian ideology So we see that the struggle for power to be sharp or bloody likely, but at the same democratic approach countries, the government ownership is at its lowest point and is the focus of this approach the regulatory authority therefore be a power struggle less severe, it has become known that the main difference between the developed and underdeveloped countries is by ownership, the greater state ownership increased backward, I inherited the Iraqi state since the days of Ottoman rule, the desire to own property, so successive governments have focused since the founding of Iraqi state in 1921, the bulk of their attention on increasing its ownership until socialist totalitarian rule came in 1968 to increase the interest and give himself broad powers to confiscate everything and without compensation.
It was anticipated after 2003 must abandon the Iraqi state on parts of the property, especially since the Iraqi constitution, had confirmed to abandon totalitarian thought and the trend towards free market economy, which one of the first requirements of the Royal editing, but what happened is the opposite did the state give up ownership but increased by a clear from insisting on the complexity of the law on the sale and leasing of state funds, and estimates that indicate the Iraqi state is among the most ownership of the countries in the world, and it has occurred in trouble serious as the property increase leads to increased responsibility, so we see the state that own virtually everything in Iraq of farmland, real estate and wealth in the ground, hospitals, schools, streets, bridges, parks, marshes, transport vehicles, aircraft, airports and so on, may become responsible for the management of this large property so it is the largest owner and the biggest investor and the largest operator of the unemployed and is responsible for the provision of services.
Due to the fact that the current government is subject to the Constitution and elected not absolute powers possessed by the dictator or absolute ruler they have signed a hammer under pressure from the public the real owner of this wealth, we did not find in front of only solution
Employment and Employment even became government apparatus flabby and unable to move and was beyond repair and the growing power struggle because it means the acquisition of this vast property and became the national economy is disabled, if there are good intentions for the liberation of the Iraqi economy, the action requested is the sale of this property was gradually converted into sectors mixed and private within a clear and correct policy and this is what did not heed his federal budget, but has continued to focus on increasing state ownership in all its clauses, there are 99% of the spending to be dedicated government of the device and 1% dedicated solely to support the purchase of rice and wheat in the downer policy to transfer the burden of farmers to the Iraqi people rather than the development of local productive sectors, and the strangest thing in the budget is an article that talks about the establishment of a Higher Council for ages three months, a strange return to the past and dedicate to the concept of government dominance over the course of the economy and do not know exactly how to add a new body with the survival of the competent ministries as they are , it was better for the budget to confirm the formation of the Council of Economic Reform in the true sense, not in the sense that previously provided by the government was rejected by the House of Representatives, which was deformed and sterile, and a mixture of several forms contradictory.
The partial sale of state property must be within the wise management of privatization and requires the development of the Iraqi capital market requires a sound and wide-financing policy will result in activation of the local economy and create millions of new jobs and will lead to a voluntary transfer of government jobs to the private work and will lead to a cycle permanent between spending the Iraqi dinar and recovery of the market rather than austerity policy failed and will turn Iraq into an attractive country for foreign funds wishing to invest, to imagine a state like wealthy citizen who is facing a cash obligations and Atkvah liquidity obtained from the revenues to meet these obligations, the first thing to do is to sell excess of its needs for the provision of liquidity and is not reasonable to resort to starve his children and his family, as do the budget for 2015, some may think that government funding for the state budget through the sale of assets and hold dollars in the Central Bank of Iraq will lead to contention importers in the market dollar Local and therefore its price rises and decreases the value of the Iraqi dinar, which leads to a rise in the cost of living for the Iraqi people, and this is another mistake by the 2015 budget will eat later.
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