Home
An invitation to take economic measures to support budget
1/11/2015 0:00
BAGHDAD - Mustafa al-Hashemi
At a time when the World Bank count dropped the price of oil that constitutes «opportunity» for some developing countries to rebuild their financial reserves and a cushion against the new economic shock, an economist called for the activation of the productive sectors, especially that Iraq needs to diversify its financial revenues and reduce dependence on oil in the financing of the budget, especially after prices fell to a low rate compared to previous years, requires - according to expert - to take decisive economic measures.
After the price of oil fell by more than fifty percent since June last, even under fifty dollars roof barrel (Brent down below $ 49 a barrel on Friday but closed above $ 50), sees economic expert Dr. Hilal Taan need to exploit the non-oil resources enjoyed by country and the development of the reality of the productive sectors quickly to minimize the effects of the decline in oil prices in the economy of Iraq, warning that failure to take such a step when the price of a barrel of oil to $ 30 because it would cause an economic catastrophe.
He Taan in a statement »Sabah» that the tourism sector in the country has not invested as it should, as well as the laws and regulations currently in force do not help to promote economic reality, pointing out that the treatment of the lack of electricity will contribute greatly to activate the agricultural and industrial sectors and the operation of labor Miada to provide employment opportunities for young people and then reducing crime and terrorism.
He called Taan based on economic profile in Iraq to the need for decisive action and reduce corruption and proper planning is correct vision through the use of academic expertise that abound in the country, stressing that the three presidencies to reduce the salaries effectively would contribute to reducing the proportion of Almoisna.fa deficit the same context, the Parliamentary economic Commission announced, prepared proposals for the diversification of the federal budget revenues, with renewed its warning of dependence on oil as the sole source of the budget.
Said committee member Ahmed Salim Kanani: In a press statement, «must assign budget and diversify the revenue», adding that «the budget depends on oil rents only, while in all countries of the world there is a national proceeds national».
He explained that «National rents is to rely on the collection of fees for services, electricity, water and other charges, while the national rent is relying on investment and building human interest».
For its part, the organization involved in combating poverty, said in a report "for a certain number of oil-importing countries, constitutes the low price of crude oil a chance to improve their financial positions faster pace."
The bank promised to the significant decline of the price of oil should specifically that allows these countries to support lowering the energy sources that keep fuel prices at low levels, but it weighs public finance.
He said economists at the World Bank official, Kaushik Basu, as quoted by a statement "on the oil-importing countries to shrink or eliminate subsidies on fuel prices and the re-building has a margin of maneuver on the fiscal front."
According to the International Monetary Fund to support the cost of energy sources in the world amounting to $ 1900 billion, or 2.5 percent of global gross domestic product.
The World Bank added that these additional resources for developing countries are very useful in "uncomfortable" economic conditions.
In contrast, the organization said that the decline in the price of oil will deliver weighed on the financial situation of the oil-exporting countries and economic activity.
[You must be registered and logged in to see this link.]
1/11/2015 0:00
BAGHDAD - Mustafa al-Hashemi
At a time when the World Bank count dropped the price of oil that constitutes «opportunity» for some developing countries to rebuild their financial reserves and a cushion against the new economic shock, an economist called for the activation of the productive sectors, especially that Iraq needs to diversify its financial revenues and reduce dependence on oil in the financing of the budget, especially after prices fell to a low rate compared to previous years, requires - according to expert - to take decisive economic measures.
After the price of oil fell by more than fifty percent since June last, even under fifty dollars roof barrel (Brent down below $ 49 a barrel on Friday but closed above $ 50), sees economic expert Dr. Hilal Taan need to exploit the non-oil resources enjoyed by country and the development of the reality of the productive sectors quickly to minimize the effects of the decline in oil prices in the economy of Iraq, warning that failure to take such a step when the price of a barrel of oil to $ 30 because it would cause an economic catastrophe.
He Taan in a statement »Sabah» that the tourism sector in the country has not invested as it should, as well as the laws and regulations currently in force do not help to promote economic reality, pointing out that the treatment of the lack of electricity will contribute greatly to activate the agricultural and industrial sectors and the operation of labor Miada to provide employment opportunities for young people and then reducing crime and terrorism.
He called Taan based on economic profile in Iraq to the need for decisive action and reduce corruption and proper planning is correct vision through the use of academic expertise that abound in the country, stressing that the three presidencies to reduce the salaries effectively would contribute to reducing the proportion of Almoisna.fa deficit the same context, the Parliamentary economic Commission announced, prepared proposals for the diversification of the federal budget revenues, with renewed its warning of dependence on oil as the sole source of the budget.
Said committee member Ahmed Salim Kanani: In a press statement, «must assign budget and diversify the revenue», adding that «the budget depends on oil rents only, while in all countries of the world there is a national proceeds national».
He explained that «National rents is to rely on the collection of fees for services, electricity, water and other charges, while the national rent is relying on investment and building human interest».
For its part, the organization involved in combating poverty, said in a report "for a certain number of oil-importing countries, constitutes the low price of crude oil a chance to improve their financial positions faster pace."
The bank promised to the significant decline of the price of oil should specifically that allows these countries to support lowering the energy sources that keep fuel prices at low levels, but it weighs public finance.
He said economists at the World Bank official, Kaushik Basu, as quoted by a statement "on the oil-importing countries to shrink or eliminate subsidies on fuel prices and the re-building has a margin of maneuver on the fiscal front."
According to the International Monetary Fund to support the cost of energy sources in the world amounting to $ 1900 billion, or 2.5 percent of global gross domestic product.
The World Bank added that these additional resources for developing countries are very useful in "uncomfortable" economic conditions.
In contrast, the organization said that the decline in the price of oil will deliver weighed on the financial situation of the oil-exporting countries and economic activity.
[You must be registered and logged in to see this link.]
