Economist urges Iraq to begin the move towards a market based economy

Posted: August 27, 2013 in Iraqi Dinar/Politics
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21 Aug 2013

An economist called for the need to determine the implications of economic reform and its priorities, including identifying priority on the transition from a totalitarian to a market economy, pointing to the need to provide a sound foundation and necessary to achieve a smooth transition lowest possible cost as well as complete the necessary legislation and put it into practice.

Dr. Emad Salem opined that overall economic growth cannot take place unless there are enough radical changes have been done from the end of the government. He pointed out alluding to the need for accurate identification of the economic challenges in Iraq, and the design of public policies and agreement on inter principles and perspectives relevant to determine the form of the state and agree on the nature and on its foundation and then characterize the economic system.

The role of the private sector is going to be crucial, as per the opinion of the economic expert. However, to control private sector seamlessly, the country requires robust visionaries. Mr. Salem also stated that the process of public policy-making in Iraq faces a major challenge is reflected in the non-application of the provisions of the Constitution of 2005 related to economic affairs, stressing the face of this challenge to proceed without delay to study materials Constitution first and agree on a clear explanation and a specific or modify some of them will formulate mechanisms and policies and institutional frameworks to transform these terms and constitutional articles to a united and supportive factors for the transition to a market economy and not vice versa.

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