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Tishwash:  Economist: Foreign investment has become an important necessity to stop the current economic confusion

Economic expert Saleh Al-Hamashi considered the visit of the European Prime Minister to be important for reviving the economic situation in the country.

He told the Iraqi National News Agency ( NINA ) that foreign investment has become an urgent necessity to stop the current economic confusion.

Al-Hamashi added that: Officials of the three countries visited by Al-Kazemi are keen to clarify the reform paper and its impact on foreign investment.

He stressed the importance of political and security stability for Iraq to be an attractive environment for investment.

Prime Minister Mustafa Al-Kazemi is on a tour that includes France, Germany and Britain   link

Eccle519:  I always wondered why they printed so many Dinar that we have (over 50 trillion I think) heres a good theory in a Pimpy video https://youtu.be/KhR6g1uu4hQ

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Tishwash:  Expert: Financial Reform Is The Most Important Step For Reforming The National Economy

The financial reform process is one of the most important steps in the reform of the national economy , as this process constitutes the main impetus for comprehensive economic and social reform, as it is a basic and necessary requirement to build a society on sound economic foundations that focus on private activity and activate it and give it the opportunity to participate in building the Iraqi society

Financial reform

Economic expert Imad Al-Ani stated that “the financial reform process includes a set of basic and radical steps that focus on two main directions.

The first is measures to reform public expenditures through which the government can control public spending, which includes re-rationing of expenditures. , In a way that achieves the best use of the allocation, by following the path of alimony since its allocation and approval, through the stage of its implementation and exit from the government’s financial responsibility, and monitoring the effects that result from it in all the stages through which it reaches its desired goal.

He continued, “This is based on reviewing the qualitative distribution of public spending in a way that achieves the best possible benefit. Spending is in the right place and time. In addition, the process of reducing public spending must begin gradually until its ratio to the national product begins to gradually decrease.

General revenue

Al-Ani added, “The second aspect is reforming public revenues, improving their collection, and devising new means to increase them. The most important paragraph in this aspect is focused on reforming the tax administration and its policies. Information on economic activities has become difficult to obtain, for many reasons, the most prominent of which is the increase in the number of activities that operate under the economy.” The hidden and informal, due to the lack of monitoring of the responsible authorities, as well as the increase in the number of those subject to tax, the increase in tax evasion, weak tax administration and low efficiency.

He stated, “This situation requires radically changing the role of the state from wide and unlimited intervention in the economy, which is characterized by its weakness, to carrying out specific and clear tasks, provided that the state takes over social matters on a large scale and spends revenues more productively by reorienting them to finance development projects and more basic services. Productivity and the greatest economic and social return on economic growth, and those that contribute to alleviating poverty and raising the level of citizen’s welfare  link