Iraqi conference calls for economic reforms and fiscal and monetary Today at 8:42 am

Iraqi conference calls for economic reforms and fiscal and monetary




Source: ElaphZR - 26/04/2010
Iraqi conference calls for economic reforms and fiscal and monetary
Acknowledgment of the complexities in the process of economic transformation


The Conference recommended that the Economic sponsored by the President of the Republic of Iraq, Jalal Talabani, under the slogan (the economic reforms needed in Iraq), which is organized by the range of media, culture and arts in the Mansour Hotel in Baghdad and over on Saturday and Sunday, the twenty-fourth, fifth and twenty-April that the contradiction and conflict between fiscal and monetary policies must adversely affect the final results envisaged for Both policies requiring the importance of finding a mechanism for coordination between fiscal and monetary policies must be to achieve economic reform.


BAGHDAD: The Conference recommended that the Economic sponsored by the President of the Republic of Iraq, Jalal Talabani, for making a formal creditworthiness of Iraq by the rating agencies international credit are officially supported, especially after the emergence of institutions of national statistical enjoy an appropriate degree of Alchwevi, and the jungle in order to promote greater transparency and disclosure in monetary institutions. study also recommended the lifting of the zeroes on the Iraqi dinar in terms of timing and the expected negative impact of being supposed to be a final action, and dealing with the fluctuation of oil, but variability of the properties and deep in its market hedging, and an increased tendency for the saving of additional resources.


It is also recommended that service contracts appropriate and rewarding of the state and returns Iraq, including the high and the total investment and operating costs and payments to foreign companies represent a reasonable proportion of the revenue, so we recommend that you take on in the oil contracts, and the installation programs and restructuring in developing countries that have adopted addressed the fiscal imbalance, either imbalances economic and social development has remained the same or worsened, so you should pay attention to these imbalances when you apply some of the recommendations of the Fund in Iraq.


The Conference called upon the mobilization of economic policies, monetary, financial and institutional, legislative, thus increasing the contribution of national and foreign investment, especially in non-oil sectors to increase its contribution to GDP, and a focus on investment in infrastructure and the need for investment in a way (Build, Operate and Transfer) to relieve the pressure on investment budget in the establishment of infrastructure, especially in road and electricity projects.


Also came from the recommendations provide a favorable economic environment that promotes the case of competition between public and private sector on the basis of considerations of efficiency and productivity, to submit to market forces, giving the private sector a full opportunity to do its part in the development process, and addressing structural imbalances real economic and social, as well as addressing financial imbalances and monetary and the need for investment to increase Iraq's oil revenues in order to rid the economy of the problem of unilateral and diversification of GDP and increased reliance on key sectors such as agriculture and industry. participated in the conference 45 scholars and experts, scientific bodies and research and institutional numerous, such as the World central and Iraqi universities, research centers, the National Investment Commission, In addition to advisers in the Iraqi cabinet.


The conference discussed at its four four areas: investment and the private sector, fiscal and monetary policy, productive sectors and the focus of energy, and came out the recommendations of several expressed the final statement that it will be submitted to the House of Representatives and the new government, as noted economic expert Abbas Ghalibi decision of the Preparatory Committee and a member of the Scientific Committee of the Conference In his opening to: that the convening of the conference comes in a matter of suffering of the Iraqi economy in which the structural imbalances and structural great, especially with the presence of complications in the process of economic transformation taking place in the country, which began after 2003, which approved the constitution that the Iraqi economy will be a market economy, adding: that Iraq is on the verge of an economic revolution and expansion of the movement of investment, and that this is not only the existence of the economic reforms required.