- Time: 2023/03/28 21:04:56
- Reading: 52 times
The Finance Committee, chaired by MP Atwan Al-Atwani, and the presence of a number of its members, hosted the representative of the International Monetary Fund, Dr. Ghazi Al-Shabekmat, on Tuesday, 28/3/2023, to discuss support for the Federal Budget Law of 2023 and the general economic situation in Iraq.
At the beginning of the meeting held at its headquarters, the Committee welcomed the representative of the Fund, appreciating the continued cooperation between Iraq and the International Monetary Fund.
For his part, Dr. Ghazi Al-Shabaqat expressed his happiness at the meeting, adding that the Fund has a long relationship with Iraq, while the report of the consultations on reforming the Iraqi economy and the policy of financial reform with the Iraqi side as a result of the problems that have been solved in the country that led to the stagnation of the economy, stressing the importance of activating governance and restoring sustainable development.
The committee also heard observations on low oil prices and fears of slow circulation in the global market, stressing the activation of the private sector, ending unemployment and not relying heavily on the public sector, supporting the reform process by helping the poor classes, in addition to the need to avoid risks that affect the economic and financial reality in Iraq.
The committee discussed with the network how to diversify the Federal General Budget Law of 2023 and the importance of finding alternatives to achieve comprehensive development, financial sustainability in the budget law, the trend towards diversifying economic sources, investing the private sector in the labor market to finance the budget, and automation of the tax system.
In the same case, it was stressed the need not to rely on oil and the Central Bank to implement the budget, reduce the deficit, rearrange spending priorities and protect the fragile classes from rising prices and automation of banks, while setting a strategic path to address the financial situation and end the deficit, and planning a future vision.
The interventions of the members of the committee focused on the need to regulate the policy of banks and automation of the financial system, diversify the sources of revenues in order to alleviate the deficit, and help in the automation process, as well as having a vision of the set of legal provisions related to the revitalization of the economy during the 2023 budget, discussing the economic structure and developing a program for the public function and supporting the orientation to the private sector.
At the end of the meeting, the representative of the International Monetary Fund expressed his readiness to provide technical assistance in everything that would create financial space for the country.