Economists: Political system in Iraq has misdirected oil revenues

Posted: December 7, 2013 in Iraqi Dinar/Politics
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12/07/2013

Carry Economists Iraqis on Saturday, “the new political order,” the responsibility of the deterioration of economic growth, and stressed that the increase in oil revenues, “tempts the governor to continue in office and increases the power of individual”, as attributed exceeded imports of 70 billion dollars in 2013 to “ignorance in water resources management helm, “called for” the formation of a body to manage financial resources managed by economists away from the political parties. “

The economist said Bassem Jamil Antoine in an interview to the (long-Presse), on the sidelines of a seminar hosted by the Center information for research and development in collaboration with the Friedrich Ebert Foundation under the title (rents oil and democracy building bilateral Impossible in yield economy – special reference to Iraq), at the Hall of Iraqi Council for Peace and solidarity in central Baghdad, said that “one of the economic problems that plagued Iraq is turning its economy to yield,” he continued, “is still increasing rents, which tempts the governor to continue in office and increases the authority of individual.”

He Antoine that “the government in Iraq is unable to use the oil revenues to enter the entry of other economic sectors of tourism, industry and domestic production and economic growth and sustainable development”, and attributed the cause to be “the ruling political now and political parties participating in this coalition to suffer from the weakness of its experience in the field the economy and the lack of exemptions and professionals in achieving the economic program and my on the ground, “and added that” the governor is seeking to increase its power and dominance on the political situation and it remains the only source to support the Iraqi people. ”

He Antoine that “rates of what exists on the ground of poverty exceed 20% and there is unemployment in excess of 15% is not solved,” noting that “the reality of health and education in the deterioration of the escape and the brain drain of Iraq outside the country and not to bring investors Alrchinan to invest in important sectors such as industry, agriculture “.

He pointed out that “rates of imports of consumer budgets random Iraqi increased so that exceeded 70 billion dollars in 2013,” returned this as “not to give an indication of the growth of the real economy and ignorance in the management of water resources helm.”

He stressed the economic expert on the need for “the formation of a body to manage financial resources as stipulated in the Constitution assume management competencies and Iraqi economists away from the political parties, if accepted abandon this site,” and noted that “the objective of this seminar was to provide guidance and recommendations to achieve economic growth and benefit of massive imports in order to serve the people and the country. ”

On his part, said economic expert Majid picture in an interview with the (long-Presse), said that “Iraq is suffering from the economic challenges that large because of the lack of strategy, plans and blurred visions,” explaining that “these things led to the dispersal of the many of the oil money to factional interests and partisan Mkoonatih “.

He said the picture that “the subject matter in this symposium serious is the redistribution of income for the oil resources poured the bulk of them in the process of economic and social development”, and pointed out that “the Iraqi people suffer from many problems can not be solved, but the orientation of actual towards economic development and the dimensions of partisan interests The factional split in the oil cake. ”

And that “the general trend in Iraq is for the categories of parasitic business profited from the oil revenues,” pointing out that “according to the official statistics, the Iraq’s imports rose from 9.6 billion dollars in 2003 to 74 billion dollars in 2012,” he continued, “so this category associated trade and the interests of the major third-party political and is disruptive to the process of economic development. ”
In turn, the leader of the Communist Party Jassim Hilfi in an interview to the (long-Presse) “We note the greater the export of oil and increased proportions of budgets and financial resources of oil commensurate with her directly proportional to the impoverishment of the Iraqi people and pay it to the wars of hatred and division and dispersion rather than be this Article is for Reconstruction and Development. ”

He Hilfi that “since 2003 until now amounted oil imports 750 billion dollars, this amounts Lucan Iraq land free would have been rebuilt and make Iraq a modern sophisticated blessed his people well-being,” adding, “but this money spent and distributed and spent on corruption and corrupt while living 25% of the Iraqi people below the poverty line. ”

He stressed that “this problem is borne by the new political system based on ethnic quotas and which provided an environment for terrorism and air fit to corrupt.”

The IMF (International Monetary Fund; IMF), has reported in its annual report on Iraq in 2013, which he published in (the 24th of July 2013), and seen it (the long-Presse), that Iraq is facing the challenges of fiscal policy great after 30 years on sanctions and wars caused by the presence of a very large needs of the country at the social level and the development of infrastructure, and saw that Iraq needs to convert its oil wealth into assets based on the processes of reconstruction and development continuously.

The U.S. Agency for International Development predicted, in (December 3, 2012), that the Iraqi economy tops the Arab countries in five years, asserting that Iraq possessed all the qualifications to be a powerful country economically.

Preliminary estimates indicate that Iraq possessed stockpiles estimated at 112 trillion cubic feet of gas, but the 700 million cubic feet a day of it burning and wasting due to lack of infrastructure investment.

And stopped most of the Iraqi laboratories after 2003 due to high fuel prices and the opening of the door of import led to the inability of local products to compete with imported goods which prompted the owners to shut down plants and lay off workers.

Iraq relies on the financial Moisnath in general for oil and by up to more than 90%, where the Iraqi government announced the budget for the year 2013 budget amounted to 138 trillion dinars, which was adopted from exports increased by 2.9 million barrels at a rate of $ 90 per barrel.

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