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Iraq’s free market economy clashes with the dominance of the government & experts
June 20 2011
A free-market economy in Iraq, which is approved by a constitutional part of the new orientation of the Iraqi economy after 2003, faces many difficulties of the most important collision with government domination of the economy, described by economists as "the most dangerous policy" on the growth of the economic sector in the country.
The expert says the economic and planning minister, former Mahdi Hafez, in an interview for "Alsumaria News", "Iraq on the verge of a major problem is the contradiction between the principles of free economy and public policy of the state, and the practices to be followed by the bodies," noting that "there is a problem now in Iraq, the administration of financial management in the country is inaccurate and impractical, and the domination exercised unreasonably.
Hafiz says that "this could not serve the economic freedom that we call him, because a free economy is based on freedom of initiative," stressing that "this freedom cannot allow any government intervention outside the regulations governing these activities.
In turn, sees high banking advisor Abdul Rasul Ali, in an interview for "Alsumaria News", that "as long as there is a government banking sector and the Government sponsor him, and he has the resources equivalent to 90% of banking resources, you will not be a list of the banking sector National."
Abdul Rasul said, "so long as these banks are the breadwinner President for private sector financing, we will find with these resources, so the private sector is not able to fulfill its commitments to the advancement and development," adding that "the plan shows that he does not change the mentality that we live by Previously, when the oil ends end of economic life in Iraq.
He joins other experts to reject the government's economic policies and build on the violations and gaps in the work of the government banking to confirm the failure of the State Administration of one economy in the country.
The economic expert Salam Sumaisem says, in an interview for "Alsumaria News", "This issue refers to the question of beginnings and the failure and the failure of Government to state banks."
Sumaisem inquired and saying, "Why we go back the case to the private sector, rather than as we turn to the mental state bank how to manage these systems, have come to reflect on the performance of private banks."
The private banks called to make sweeping reforms in the banking systems and for changes in monetary policy regime in control of banking and trading, in accordance with international standards in step counts by private banks to restore confidence in the government and deal with it.
The Directorof Bank Gulf Investment Abu Talib al-Hashimi, said in an interview for "Alsumaria News", to "reform the banking system to do the job on the aspects of correct and complete," noting that "monetary and fiscal policy requires a clear strategy and vision of inclusiveness and shared the Iraqi economy and addressing the serious imbalances in the structure of public
According to Hashemi, "the need to give sufficient flexibility without compromising on risk systems, governance and transparency, that is strengthening and expansion of banking supervision and accurate accounting on the basis of international standards in this area."
Free-market economy, known as free from government interference and restrictions, in addition to the practical ability to maintain the legal system and protect public property and be free of private power and personal scams.
The Iraqi government made in the twenty-fifth of April, last year, 2010, in cooperation with experts from the United Nations projects of economic reform includes restructuring the Iraqi economy in accordance with the requirements of the shift from the general economy centrally planned economy to a private market to ensure the expansion of the productive base of the Iraqi economy by adopting the market mechanism free and the organization of a rates and foreign and domestic trade.
The Iraqi cabinet approved last year, the National Development Plan Five-year (2010-2014) as the final revised by the Ministry of Planning taking the amendments proposed by some ministries into account, and came authentication to reduce the differences and barriers between urban and rural areas and the provision of infrastructure and social services, and generate new jobs and increase the awareness and acceptance of the principles of sustainable development to achieve the development of an integrated and coherent ensure activate and investment represent the human and natural resources in all governorates of Iraq, and by increasing the operating rate, particularly among young people, women, and increase and improve the amount of water processed for human consumption, quality and hard work to ease the poverty, widely available in Iraq.
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June 20 2011
A free-market economy in Iraq, which is approved by a constitutional part of the new orientation of the Iraqi economy after 2003, faces many difficulties of the most important collision with government domination of the economy, described by economists as "the most dangerous policy" on the growth of the economic sector in the country.
The expert says the economic and planning minister, former Mahdi Hafez, in an interview for "Alsumaria News", "Iraq on the verge of a major problem is the contradiction between the principles of free economy and public policy of the state, and the practices to be followed by the bodies," noting that "there is a problem now in Iraq, the administration of financial management in the country is inaccurate and impractical, and the domination exercised unreasonably.
Hafiz says that "this could not serve the economic freedom that we call him, because a free economy is based on freedom of initiative," stressing that "this freedom cannot allow any government intervention outside the regulations governing these activities.
In turn, sees high banking advisor Abdul Rasul Ali, in an interview for "Alsumaria News", that "as long as there is a government banking sector and the Government sponsor him, and he has the resources equivalent to 90% of banking resources, you will not be a list of the banking sector National."
Abdul Rasul said, "so long as these banks are the breadwinner President for private sector financing, we will find with these resources, so the private sector is not able to fulfill its commitments to the advancement and development," adding that "the plan shows that he does not change the mentality that we live by Previously, when the oil ends end of economic life in Iraq.
He joins other experts to reject the government's economic policies and build on the violations and gaps in the work of the government banking to confirm the failure of the State Administration of one economy in the country.
The economic expert Salam Sumaisem says, in an interview for "Alsumaria News", "This issue refers to the question of beginnings and the failure and the failure of Government to state banks."
Sumaisem inquired and saying, "Why we go back the case to the private sector, rather than as we turn to the mental state bank how to manage these systems, have come to reflect on the performance of private banks."
The private banks called to make sweeping reforms in the banking systems and for changes in monetary policy regime in control of banking and trading, in accordance with international standards in step counts by private banks to restore confidence in the government and deal with it.
The Directorof Bank Gulf Investment Abu Talib al-Hashimi, said in an interview for "Alsumaria News", to "reform the banking system to do the job on the aspects of correct and complete," noting that "monetary and fiscal policy requires a clear strategy and vision of inclusiveness and shared the Iraqi economy and addressing the serious imbalances in the structure of public
According to Hashemi, "the need to give sufficient flexibility without compromising on risk systems, governance and transparency, that is strengthening and expansion of banking supervision and accurate accounting on the basis of international standards in this area."
Free-market economy, known as free from government interference and restrictions, in addition to the practical ability to maintain the legal system and protect public property and be free of private power and personal scams.
The Iraqi government made in the twenty-fifth of April, last year, 2010, in cooperation with experts from the United Nations projects of economic reform includes restructuring the Iraqi economy in accordance with the requirements of the shift from the general economy centrally planned economy to a private market to ensure the expansion of the productive base of the Iraqi economy by adopting the market mechanism free and the organization of a rates and foreign and domestic trade.
The Iraqi cabinet approved last year, the National Development Plan Five-year (2010-2014) as the final revised by the Ministry of Planning taking the amendments proposed by some ministries into account, and came authentication to reduce the differences and barriers between urban and rural areas and the provision of infrastructure and social services, and generate new jobs and increase the awareness and acceptance of the principles of sustainable development to achieve the development of an integrated and coherent ensure activate and investment represent the human and natural resources in all governorates of Iraq, and by increasing the operating rate, particularly among young people, women, and increase and improve the amount of water processed for human consumption, quality and hard work to ease the poverty, widely available in Iraq.
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