* Iraq’s former Minister of Planning criticizes the current monetary policy for Iraq
The Minister of Planning and credit of the former Iraqi Mahdi Al-Hafiz, the vital importance of any annual financial budget lies in the fact that an economic tool to ensure effective distribution of financial resources in the form of sound and meet the objectives of social and development policy as a political system and its principles.
Hafiz said the reporter and the news agency Saturday that the future “There are dilemmas such as if the circle chronic unemployment rate ranged between 20 and 30 percent, and low standard of living and lack of public services and the spread of corruption and cronyism on a large scale.”
And Chal-Hafiz for “peace of salaries and wages for state employees (3.5 million people and a way to address this issue, and economic reform desired and policy development standard of the State, and if they have one policy covering all parts of the country,” asserting that “these questions need answers.”
He added that “the methodology used in the budget marred by significant shortcomings, particularly in relation to estimates of the various ministries and bodies,” pointing out that “the logic of the traditional bureaucratic former is dominant, and it is not clear to us the criteria used in the preparation of estimates, and the economic outlook overall to be adopted as a guide to preparing the budget.”
He explained that “the budget presented revenues are estimated at about one hundred billion dollars, mostly from oil revenues about 90 percent, a big budget comes after Saudi Arabia,” liquid “if the available guarantees to be free of this dilemma, and the fate of the productive sectors other than oil.”
He concluded by saying that Hafiz “budget presented concern and questions, and raise urgently need to address the financial situation and the system of preparing the budget with the aim of the development of reform and development, and maintain the interests of the people of all classes and secure a stable life for them.”
The * Iraq’s former Minister of Planning criticizes the current monetary policy for Iraq by Dinar Daddy's Tidbits, unless otherwise expressly stated, is licensed under a Creative Commons Attribution-ShareAlike 3.0 Unported License.
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