- number of readings 56
- Section : Iraq
Baghdad / Obelisk: Finance Minister Ali Allawi said, on Saturday, December 11, 2021, that the white paper began with the reform of the public administration of the state and then the reform of the country’s finances, noting that the paper is a 100% Iraqi project aimed at strengthening the capabilities of the state.
The obelisk publishes the most prominent of what Allawi spoke during a televised interview:
– There was financial abundance between the years 2009-2013, but on the other hand, there were no clear economic policies. Financial resources were transferred from oil sales to government appointments.
The increase in employee salary entitlements and contracting due to the financial abundance put pressure on the state’s finances due to the decline in oil prices.
– Investment spending in Iraq is large after 2003, but it was not in accordance with the regulations, and most projects were motivated by personal or sectoral motives, not economic projects.
There is more waste and misuse of resources than theft or corruption.
– Incompetent people submitted projects and managed by unqualified people.
– There are huge resources spent on projects, but their economic impact is small.
– There are hospital projects that were approved after the year 2011, but they were not completed, and some of them did not have allocations, and the specialists withdrew and some benefited, and structures remained.
Small projects are often more beneficial to the economy than large projects.
– The White Paper is a 100% Iraqi project, the aim of which is to strengthen the capabilities of the state.
– The white paper began with reforming the state’s public administration, and then reforming the country’s finances.
– Iraq can benefit from its geographical situation to be a transit point by implementing ports and highways linked to railways and industrial projects.
– Iraq needs a radical reform of the system of managing the economy to face challenges, including the decline in oil prices.
– The Iraqi economy is based entirely on oil revenues at a rate of 95%, and in the last two years the economies of the major and industrialized countries have started looking for an alternative to oil, and this is a danger to us.
– Gulf countries have financial investments worth two trillion dollars to face the threat of a decline in oil prices.
Non-payment of electricity bills by citizens costs the state 15 trillion dinars annually.
– Iraq possesses economic human energies and a vision that diagnoses challenges and lays down the means for economic stability.
– The dinar currency was adopted in Iraq at the beginning of the twenties of the last century, and each dinar was equivalent to 4.80 dollars
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