There needs to be extensive discussions before approval of Economic Reform Act, says D. Raed Fahmi

Posted: October 9, 2013 in Iraqi Dinar/Politics

10/09/2013 12:00 AM

Collect economists on the importance of the enactment of the special economic reform for its importance in removing bugs and deformation in the structure of the Iraqi economy and monounsaturated rentier and update mechanisms and systems controlling it.

This comes at a time of the oldest in which the Council of Ministers to approve the bill for economic reform has been submitted to the House of Representatives after being checked by the State Council.

Meanwhile launched an economic “morning” campaign to publicize the importance of such laws through visions and analyzes of economists, Taking continue its campaign this has met with one interested in economic affairs, Dr. Raed Fahmi, Minister of Science and Technology previous Tell us saying:

“This law is of great importance requires discussion and enriched with visions of the owners of expertise and competence, but apparently that the council could only discuss it by some specialists and representatives of organizations and government bodies and non-governmental organizations,”
he added, despite the importance of these posts, but I find the need to be given more attention across the display for discussion Extensive not narrow and enjoys the attention it deserves by the media and specialists and forces and parties, trade unions and associations of local and civil society organizations for the interest rate is the most important and broader and more comprehensive in terms of the law and out format to avoid falling into the errors. believes Fahmi need to make notes to take it out Bondj Formula One observations pointed out that in Article (1 – i) the definition of economic reform, “the restructuring of the Iraqi economy according to the principles of economics and modern requirements of the transition to a market economy. Fahmi said is worth recalling that the Constitution does not provide for expression of a market economy is subject to find the expression” Principles of Economics modern “and Article (25), the expression “… supported the latest techniques of market principles and encouraging investment” as in Article (112). Vtobeir market economy is not sufficient to determine the nature of the economic system that we turn to achieve, there is a system of social market economy in Germany, and the socialist market economy In China, as the economies mixed in Europe also fall within the forms of a market economy.

pointed out that there are different systems for market economy differs in the form and degree of state intervention in the economy and it seems that the bill tends to be understood liberal market economy where subsides when state intervention in the economy to lowest score and limited its role to jobs sovereign and play the role of “keeper.” This is reflected in the multiplicity of the reference to “free market economy” as in the material (2) and (4), for example.

said that this requires that being characterize more precisely the nature of the economic system that seeks him Iraqi state and aims his reform. If تمعنا in the articles of the Constitution 26 to 36, we find that it assumes a high level of state intervention in the economy in order to achieve the obligations and rights set forth in these materials, and if we add to that possession of state oil resources, the role of the state is present strongly in the Iraqi economy for many years to come is what makes the economic system consistent with the articles of the Constitution is closer to the “mixed economy.”

He concluded by saying that he is not accurate as stipulated in the reasons that the provisions of the Constitution calls to transform the Iraqi economy to a market economy, Valadeg be the goal of reform is to support and activate the mechanisms of action of the competitive market in the Iraqi economy for the purpose of raising productivity and efficiency in the use of material and human resources, pointing out that (a 2 – first) set the goal of law restructuring the Iraqi economy to increase productivity and ensure competition any limited objective basis on the restructuring on the economic side, but assumed that there will be a social dimension is present in the process of restructuring the consequent social effects, and not enough trying to address these effects when referring to “reduce the cost of reform.”

said the former minister that he received within the objectives of the law to achieve justice in the distribution of returns of economic activities, and the achievement of a comprehensive economic development, these goals can not be achieved unless effective intervention from the state, and Houma incompatible with the liberal model implicitly assumed in the theoretical reference to the law.


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