Serious Steps To Reduce Dependence On Oil
Economic 1225/02/12 Baghdad: Imad of the emirate In the context of efforts to revitalize the national economy, the government is working to adopt ambitious strategies to reduce dependence on oil rent, by activating the productive and service sectors and enhancing non-oil revenues.
This comes in light of the economic challenges facing the country, especially with the fluctuations of global oil prices, which calls for diversification of sources of income and building a more stable economy and the ability to face external influences.
The Financial Adviser to the Prime Minister, Dr. Mazhar Mohamed Saleh, stressed that the government attaches great importance to stimulating the productive sectors, especially the agricultural sector.
He pointed out that the current plans focus on supporting farmers by providing facilitated financing and modern agricultural technologies, which contributes to increasing productivity and achieving food security.
Highly productive seasonal programs were also adopted within the general budget of the state, with the aim of enhancing self-sufficiency and reducing dependence on import.
Saleh explained that the government is working to enhance financial discipline by controlling public spending and increasing revenue collection.
He stressed that excessive exchange or negligence in collecting public imports will be reduced, with a focus on directing resources towards productive projects that benefit the national economy.
It was also noted that the importance of launching economic companies in cooperation with the private sector, to support sustainable development programs that contribute to creating job opportunities and increasing productivity.
The financial advisor called for the necessity of controlling the import system, which is witnessing a random expansion that drains the country’s foreign reserves.
He stressed that foreign resources should be directed towards productive imports that enhance the economy, rather than excessive consumption that does not contribute to building a strong production base.
He also stressed the importance of adopting accurate commercial policies that encourage sustainable production requirements.
Saleh pointed out that the government is working to convert support in the general budget from comprehensive support to qualitative support, which balances the support of low-income social classes and the productive support that occupies the economy.
Among the programs that have been focused on, is entrepreneurial and financing programs, which contribute to encouraging small and medium enterprises and enhancing the role of youth in the economy.
For his part, Dr. Ahmed Al -Rawi, the economist, stressed the need to take quick measures to address the decline in oil revenues.
He called for a review of the general budget items, with a focus on removing unnecessary expenses and raising the efficiency of spending.
He pointed to the importance of achieving stability in the growth of the budget, so that it is commensurate with the annual growth of the gross domestic product, which contributes to achieving a sustainable financial balance.
Al-Rawi also stressed the importance of activating non-oil revenue systems, such as the tax system and public fees, to increase revenues and reduce dependence on oil.
He also called for the revitalization of other economic sectors, such as industry and tourism, to provide job opportunities for young people and diversify sources of income.
He pointed out that the development of the oil sector must be done in a manner commensurate with the country’s reserve energies, with a focus on increasing the added value through local manufacturing.
The narrator stressed that achieving economic development requires fighting corruption in state institutions in all its joints.
He stressed that corruption is a major obstacle to achieving economic efficiency and attracting investments.
He called for adopting serious measures to enhance transparency and governance in public resources management. https://alsabaah.iq/110028-.html
Economic Expert: The Unified Accounting System Is An Effective Tool For Combating Corruption
{Economic: Euphrates News} Economist, Bassem Antoine, stressed that the implementation of the unified accounting system contributes to
reducing corruption and manipulation and
sets limits for the abuses that take place on the accounts.
Antoine told Al-Furat News that “the main issue lies in the application of decisions, as there is a problem in issuing and applying instructions.”
He explained that
“follow-up,
monitoring and
scrutiny
is an important issue, and that the monitoring account does not exceed the bureaucracy and obstructing the work.” He stressed “the need not to create complications in audit and control operations.”
https://alforatnews.iq/news/خبير-اقتصادي-النظام-المحاسبي-الموحد-أداة-فعالة-لمكافحة-الفساد
Bank Deposits Retreated
Economic 1225/02/12 Yasser Al –Mitwalli Iraqi banks have gone through a golden period in the field of returning confidence by depositors in banks after partial stability was achieved with a monetary policy by the central bank in supporting the banking sector that contributed greatly to encouraging depositors in reconciliation with banks.
Here, the topic reduced exclusively (the public deposits) because of its importance in motivating banks to contribute to development programs by expanding loans.
It is useful to note that the banking sector has gone through challenges after the stage of change, especially in the field of borrowers ’failure to pay their loans that help them.
On the other hand, it led to the paralysis of the banking activity, and a part of the banks were crushed.
To the secretariat, the efforts of the central bank years ago resulted in the return of confidence between the parties to the process, the depositors, and the borrowers.
However, reports indicate that deposits decreased in Iraqi banks to (123 trillion dinars in November 2024, which is the lowest level in 22 months), according to these reports.
But what happened to the return of this loss of confidence?
The answer is definitely related to imposing US sanctions on a large number of these banks, and
here is an analytical of the reasons, as I see it, has nothing to do with whether the readings are right or without the right to not explain the real reasons behind these sanctions that I am certain that there is a political side behind the decisions, with acknowledgment of violations. Do not deserve this harsh decision. Perhaps some depositors’ concerns about the return of the chaos of the clouds indicating the return of loss of confidence and fears of bankruptcy of banks.
On the other hand, the Central Bank indicated that deposits growth by 4.2 percent during the third chapter of 2024 compared to the same period of the previous year,
but what increases the mud with the worse of confusion and confusion, which promoted it from the loss of liquidity that may disrupt lending and productive projects, with funds turning into investments An alternative like real estate and gold.
From here, banks must develop their banking services to
ensure the continuation of the market and
adhere to restoring confidence in addition to developing and
expanding the role of the deposit guarantee company, transparently and clearly.
Perhaps the repeated financial crises that some countries have gone through have been able to diagnose the defect and find solutions while raising the level of banking culture among the public in full transparency, regardless of the size and details of the financial crises to ensure their exception.
Banks need to develop their media awareness offices. https://alsabaah.iq/110029-.html
The Eighth Arab In Corruption .. Iraq Is Making Progress On The List Of The Most Transparent Countries In The World
Economy Iraq Breaking a report Global transparency 2025-02-10 Shafaq News/ Iraq climbed to the 140th place in the world in the list of the most transparent countries in the world, while it ranked eighth among the list of Arab countries that will be the most corrupt for the year 2024 out of 180 listed in the table.
Transparency International said in a report issued today, Tuesday, and was reviewed by the Shafaq News Agency, that
“the corruption perceptions for the year 2024 shows that corruption is a serious problem in every part of the world, but the change towards the best happens in many countries,” noting that
“Corruption perceptions with 180 countries and regions around the world according to the levels of corruption in the public sector. She added that
Denmark ranked first in the least corrupt and transparent countries in the world with 90 points, followed by Finland, which ranked second with 88 points, then Singapore ranked third with 84 points, and New Zealand, which ranked one ranked fourth with 83 points, came Luxembourg Fifth with 81 points. According to the report,
“Iraq ranked 140th globally with 26 points, three points, with the year 2023, and the eighth rank among the most corrupt Arab countries, where countries advanced by: Somalia, Syria, Sudan, Yemen, Libya, Ertia, and Lebanon as the most Arab countries Corruption.
The UAE ranked first in the Arab world and the 68th rank in the world’s most transparent countries, followed by Qatar second, Saudi Arabia third, Oman Fourth, and Bahrain Fifth.
South Sudan, Somalia, Venezuela, Syria, and Yemen won the highest ranks by occupying the last ranks in the table, according to the report.
The organization issues an annual report on corruption, which is an evaluation of a scale from zero to 100 countries that classify countries from the most to the least corruption, and
the report is based on statements that the organization gathered from 13 international agencies, including the World Bank and the World Economic Forum. https://shafaq.com/ar/اقتصـاد/الثامن-عربيا-بالفساد-العراق-يحرز-تقدما-ضمن-قا-مة-الدول-ال-كثر-شفافية-بالعالم
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