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Tax reform provides billions of dollars per year
10/19/2015 0:00
BAGHDAD
Collect a group of economists on the need to emerge from the current crisis and identify ways to resolve problems through the implementation of a package of measures including the development process and the banking system reform. Exchange rate and initiated a symposium held by the progress of policy development institute under the title »exchange rate and sell Currency in Iraq »and attended by« morning »the word Institute Director d. Mehdi al-Hafez, who said it: The opinions differ on the merits sell the currency there are those who believe that the national need for do not require the continuation of the so-called auctions, and the need to have to deal free and non restrictions regarding see counter opinion need to adhere to auctions and to provide the necessary facilities for the conduct of the process. He said Hafiz to the need stop at testing, neighboring countries and took lessons from it, pointing out that reforms over the centuries did not come without a price, as happened in South Africa and the countries of socialist experience. He concluded Hafiz to say: that the exchange rate raises several problematic wondering about how to describe the process required to determine the exchange rate Is it to do with the economic and financial situation of the state and the need to maintain critical path of the state? articulated plans in turn, said the Iraqi Central Bank Governor d. Ali Mohsen Keywords During the seminar, said the financial crisis faced by the country currently, and that may continue into the next few years, require serious and profound measures to avoid real problems may beset economic conditions, in particular, if it does not encountered articulated plans and solutions successful. He stressed Keywords need to develop solutions root economic problems facing the country and not just solutions prosthetic and start from the citizen diagnose bugs in the expenses and revenues of the state, stressing that the oil resources no matter how grown up will be unable to balance economic, developmental and general goals of balancing the accompanying lack of their ability to expand economic activity and Maerafgah of the solution to the problem of unemployment and welfare and human development. and the relationships that the proposal to reduce the value of the Iraqi dinar against the dollar to cover the deficit in the state budget does not help to address the root of the problem and not suited structural imbalances and Aicod to re-spending structure of government revenue in the macroeconomic framework, noting that this proposal is followed by some countries for substantive goals such as encouraging exports the country where they become worth less in foreign currency shall be priced at a global competitor, which in the case of Iraq, which is not a source country, a solution increases the amount of the dinar, which you get the Ministry of Finance against the dollar. It was suggested that relationships do comprehensive reform of the tax authorities to rectify the financial challenges, pointing out that this measure he can save billions of dollars a year, provided entrust collections of customs in all ports to international companies specialized in the framework of Alastosmar.wachar relationships that stimulate the domestic debt market, which is a source mainly of funding in most countries of the world through the issuance of bonds traded in the market. Indicating that the central bank suggested the government to issue national bonds worth 5 trillion dinars and local bonds in dollars term against the dinar worth $ 5 billion and that the government had agreed to the proposal and tasked the Central Bank manages releases on behalf of the government will be offered soon in the market. He noted the relationships to the need to conduct a comprehensive survey of land and buildings leased and vacant Akiemha and revenue and take appropriate action on leased or sold or invested to maximize the fiscal revenue through the exploitation of economically efficient.
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