Baghdad / The morning work team
started a discussion session to maximize the state resources adopted by the private sector represented by the Baghdad Economic Forum in cooperation with the General Secretariat of the Council of Ministers with the aim of determining the requirements of the next phase of the actual change the shape of the national economy and make it heading towards pluralism in resources benefiting from Iraq’s natural and human resources.
The workshop was conducted by the economic expert d. Majid Al-Suri started with the speech of the Secretary General of the Council of Ministers d. He pointed out the importance of continuing the work of economic reform in order to address the problems to achieve sustainable development, noting that the government has adopted economic reform and encourages the productive sectors to get rid of the profitability of the economy as well as encourage the tourism sector .
Alaq said: That the government has been keen to involve the private sector in all economic committees and that the participation of the Baghdad Economic Forum comes to support the government to the private sector, and commended the move of the Forum to hold a series of workshops to diagnose the economic imbalance and make recommendations represent realistic images of various problems, stressing that Iraq has exceeded the most difficult stages and challenges that Face it.
Head of the Baghdad Economic Forum Fares Al-Salman said that the forum, in cooperation with the General Secretariat of the Council of Ministers and in the presence of economic leaders, organized the workshop, praising the role of the Secretariat in cooperation to organize a series of workshops.
He pointed out that the recommendations issued by the workshops address chronic economic problems, especially as Iraq is on the stage of a large reconstruction.
Total balance in turn financial adviser to the Prime Minister d. The appearance of Muhammad Saleh said: Crude oil imports dominate the order and movement of three major balances in the national economy: the current account of the balance of payments (the so-called balance of payments balance, of which oil revenue flows account for 98 percent of total foreign exchange flows).
As well as the federal budget as the oil revenues represent at least 92 percent of the total annual revenue of the public budget. The final balance is the contribution of the oil sector to the GDP components, which range from 46 to 50 percent of the composition of that output.
He added that there are practical steps to be adopted starting from fiscal year 2018 and require the establishment of an account on behalf of the Public Debt Compensation Fund, which will deposit any increase resulting from the improvement in oil prices above the target rate in the federal budget used to compensate for any internal or external debts planned during the fiscal year or extinguish Previous debts depending on the case that the existing estimated prices in the supplementary budget for 2017 of 44.4 dollars per barrel of oil exported during the period 2020-2018.
The Public Debt Compensation Fund account receives capital revenues from the sale of land, state real estate, and remittance income, as well as the financing of the Fund’s account. He pointed out the importance of expanding the system of partnership with the private sector in the distribution of electric power until the fiscal year 2018 is the starting point to cover all regions of the country.
And included in the provisions of the Budget Law of 2018, urging the adoption of the system of outsourcing to the tax system of small units of taxpayers by granting licenses to civil companies to open the proper tax collection points to be adopted tax system cut for small taxpayers to ensure collection and raise the efficiency and stay away from diligence and corruption, The outsourcing outlets are responsible for collecting collections for different aspects of collection such as fees, municipal fees and others.
Economic Administration The head of the Baghdad Economic Forum Fares Al-Salman has returned to talk about the objectives of the economic reform process, which is the performance of a strong economy that produces surplus current account balance, low unemployment rates and real growth in GDP growth, as well as an economy focused on sustainable development, indicating that this reflects The efficiency of good economic management with its main pillars of financial management and monetary policy.
He pointed out that this requires passing through several stages, the most important of which is the evaluation of performance, which needs to stand at the general economic performance of the state and the efficiency of the government administration as well as the efficiency of the business sector and infrastructure.
The other stage, which is titled rationalization and structure, stands when rationalizing state spending, As well as the use of government support to limited groups of society and review the rents of the State Property Service and the Secretariat and Endowments, as well as a comprehensive review of the fees charged by the state and put the fair equation of the state and citizen to be reviewed periodically.
Al Salman talked about the Iraqi situation and benefit from the experiences of others and that it is to identify the Iraqi economy and the development of a real vision of ambitious investment map as well as focus on the industries of aggregation and transformation.
The economic adviser in the House of Counselors Abdul Hussein Al-Anbuge said: In order to restore the balance must be shifted to the tax to maximize the government’s financial revenue, calling for a review of oil revenues.
He pointed out the need to review the licensing rounds of oil because the operational and investment costs are high, adding that the government owns 96 percent of agricultural land and needs to manage successfully to make them productive and cover the need of the country.
Technical Developments Technical Agent of the Ministry of Agriculture d. Mahdi al-Qaisi said that agriculture is one of the oldest professions in Iraq and is the basis of settlement and the development of human civilization and provide elements of the foundations of the sustainability of agricultural activity represented by the agricultural land and biodiversity and water in addition to the human element supports Iraq’s agricultural identity and can be invested in light of technological and scientific developments in making agriculture One of the main activities contributing to the national economy.
He stressed the need to ensure the needs of the agricultural sector represented by the protection of the local product and this requires the tightening of control and control of the border crossings to prevent the entry of agricultural materials (plants, animals and various agricultural and veterinary products) and restricting the import license through cooperation and coordination with the relevant authorities, especially the Ministry of Finance / The Ministry of Interior / Directorate General of Border Ports and Economic Security and the supporting authorities.
The Ministry of Agriculture is working on an annual import plan for the aforementioned materials and taking into consideration the quantities of the local product to fill the deficit through To import rated.
She pointed out that the reform of the administration is the complement to the changes in tax policy, the increasing cases of tax evasion, the lack of information, the growing economic activities, the increasing number of taxpayers and the emergence of new taxes, which requires updating and classification of new taxpayers and forms of economic activity.
Hence, tax reform covers a wide range of activities and events And procedures and changes that can be limited to three doors (management organization, implementation of tax laws, and modernization of tax systems and procedures).
Pointing to the need for tax administration to a package of changes and reforms. Abbas stressed that the reforms are a serious and effective transition to electronic management and the adoption of self-assessment through the unit of senior taxpayers and expand the standards of the unit of senior taxpayers and the adoption of an electronic assessment system.
Social Market Financial expert and member of the Baghdad Economic Forum d. Majid Al-Soury stressed the need to have a clear identity of the Iraqi economy, as well as to determine the strategy of economic and social development and the development of plans to implement them according to a timetable, and determine the responsibilities of implementation, follow-up and control of their implementation.
I believe that the recently developed five-year plan has adopted the direction of the social market economy. It is the economic policy most in line with the requirements of the Iraqi Constitution and its orientations in the use of modern economic bases.
It is capable of achieving the economic and social development required of all segments of the Iraqi people and the importance of bold restructuring of the financial institutions in Iraq, One, as well as all the banks specialized in a large development bank, with the restructuring of administrative and financial, and provide the necessary capabilities and achieve the principle of separation of management of capital for all government and private banks.