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Don961: Parliamentary Economy: The white paper includes 3 stages, starting with the reform of niches and currency auctions

06/23/2020 08:24:25 Baghdad / extent

The Parliamentary Economic and Investment Committee believes that the “white” reform paper announced by Prime Minister Mustafa Al-Kazemi is “positive”.

She said it would be a road map to control the management of border ports and ports, tackle currency auction corruption and stimulate the private sector.

And the parliament required the government to present the economic reform law within a period of sixty days in exchange for its approval to pass the domestic and foreign borrowing law to fill the fiscal deficit for the year 2020 before the end of this month.

And the Al-Kazemi government was forced on the eleventh of last May to send a draft of the internal and external borrowing law to the House of Representatives after the decline in oil prices in global markets in order to be able to secure the salaries of workers in the state for the remaining five months of the fiscal year. Nada Shaker Jawdat, member of the Economic Committee in the House of Representatives told (Al-Mada) that “the economic white paper that the government intends to implement in the coming periods aims at a comprehensive reform of the economic system,” stressing that “the paper is still under study and research, and the government has not finished preparing it yet.” “.

The conditions of the financial crisis, the collapse of oil prices in the global markets, and the repercussions of the Corona virus pandemic crisis prompted Mustafa Al-Kazimi’s government to review the financial policy in Iraq in order to overcome the financial distress that threatens the Iraqi economy.

Jawdat expects that “the economic white paper will consist of reform packages launched and implemented in the form of three phases; the first is short-term and is the control of the state on border ports and ports, tackling corruption in the currency auction, smuggling hard currency, reducing the salaries of the three presidencies, and solving the problem of state real estate.”

And she adds, “As for the second stage of the reform paper, it will be medium-term, represented by restoring the Iraqi industry, solving the problem of corruption, and protecting the local product,” pointing out that “the third stage will be long-term and includes major strategic projects.” 

The Prime Minister, Mustafa Al-Kazemi, confirmed the day before yesterday, that his government prepared a white paper for the expected reforms, and took preliminary recommendations that are being discussed before moving forward with them, pointing out the “need for complementarity between the government and the parliament to support these reforms.”

A statement by Al-Kazemi’s office stated that the Prime Minister held a meeting with the Chairman and members of the Parliamentary Committee on Economy and Investment, during which the white paper prepared by the Council of Ministers was discussed, and includes economic, financial and administrative reforms, plans and strategies to meet the challenges facing the country.

The statement added that “Al-Kazemi listened to the proposals and opinions of the members of the Parliamentary Committee, the vision of the committee regarding the proposed solutions, and the obstacles facing the process of advancing the Iraqi economy and activating the various sectors,” stressing the importance of witnessing “the current stage of further cooperation between the executive and legislative authorities, leading to a service Citizen and achieve the public interest of the country, and overcome the challenges it faces. ” In turn, Yahya Al-Aythawi, another member of the Parliamentary Committee on Economy and Investment, said, “Our meeting with the Prime Minister focused on how to advance the Iraqi economy, revitalize the private sector movement, build factories, and activate investment,” adding that “the meeting touched on the possibility of implementing the Grand Faw port project “.

Al-Ithawi states in a statement to (Al-Mada) that “the agenda of the parliament’s economic and investment committee meeting with the prime minister addressed several issues, including the issue of border crossings and customs, the development of agriculture, industry and the tourism sector, as well as organizing the relationship between the legislative and executive branches.”

He continues, “The Prime Minister spoke to the members of the Parliamentary Committee about the reformist white paper and its content, which will be a road map for implementing a set of economic measures,” noting that “calling it white because it is a new reform paper will be written in cooperation between the government and parliament away from the interference of political parties.”

And the deputy from the Iraqi Forces Alliance bloc confirms that “the implementation of this paper will be in the form of phases because it contains foundations in which the government is running the wheel of the economy, and will be applied during a period of time not long”, noting that “the presentation of this paper came in response to the conditions of the parliament for the government to prepare a reform paper Against passing the domestic and foreign borrowing law. ” The House of Representatives had stipulated that the economic reform bill be sent by the government within a period not exceeding 60 days in exchange for passing the domestic and foreign borrowing law to finance the fiscal deficit for 2020.

On the other hand, the Minister of Finance, Ali Allawi, warned that the economy may face shocks that we will not be able to address unless reform measures are adopted in less than a year. On Monday, the Parliamentary Committee on Economy and Investment announced its discussion with Prime Minister Mustafa Al-Kazemi, “The White Paper.”

The committee said in a statement that, “In the context of real solutions and not relying on a single economy, the parliamentary economic and investment committee continues continuous efforts to address problems and obstacles and stand with the executive government in supporting and legislating important economic laws.”

She continued, “In order to improve the performance of the economy and push the wheel of investment, the Chairman and members of the Committee met with the Prime Minister to listen and discuss the white government reform paper, unify visions and enhance cooperation between the executive and the legislative authority in a way that serves the advancement of the government’s work in its pursuit of scientific and realistic economic reforms.”

She pointed out that “the Prime Minister listened to for his part the ideas and proposals put forward by the Chairman and members of the Committee that contribute to addressing the deficiencies and push in the case of the government take them out of the unilateral rentier economy to a strong and diversified economy through which the government can overcome the financial crisis And creating job jobs for different segments of society, and everyone was keen on activating the agricultural and industrial sector and supporting it in the ways that he promoted.   LINK

MilitiaMan:  There is nothing at all bad with this openness in regard to pushing forward to a market economy. Stopping the auctions will force the mechanism to be applied.. That imo is the first step and it is a very important one!!! imo Looking so very good now..imo .. ~ MM