A Government Advisor Identifies The Most Prominent Features Of The Economic Reform Bill
Economy | 03:50 - 12/30/2023 Mawazine News - Baghdad, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, today, Saturday, identified the most prominent features of the draft economic reform law, while noting that the draft law is consistent with the private sector development strategy.
Saleh said, “The economic philosophy framed by the draft economic reform law presented on its way to legislation in the House of Representatives is based on the vision of the government’s approach to reform and reorganization of the national economy.”
He added, "The government curriculum, which was approved by the House of Representatives in October 2022, is responsible for implementing a reform vision based on the principle of partnership between the state and the private sector (in financing, investment and production), starting with investing in natural resources and manufacturing industries and ending with digital and other services, and generating... High value-added chains enhance growth factors in GDP.”
Saleh explained, "The draft economic reform law is also consistent with the principles of the (National Strategy for Private Sector Development) and the principles of the new formation of the Private Sector Council headed by Prime Minister Muhammad Shiaa Al-Sudani."
He pointed out that "the draft reform law, which is in the process of legislation, is consistent with the national strategy for developing the private sector. They are undoubtedly a realistic embodiment and a central syndrome in building the rules of the (social market) through the vision of partnership between the state and the private sector that we mentioned earlier."
He continued: “They are also two economic forces that will contribute to their cohesion by diversifying the sources of income in the national economy and dismantling it from the rentier unilateralism on whose ruins coexisted with emergency profit-making liberal capitalisms devoid of any idea of building market institutions. Rather, they remained fleeting to sustainable development or even the tendency to build the foundations of the real investment desired throughout. past decades.
Saleh stressed that "Iraq is advancing the vision of partnership between the state and the social market, through the implementation of the economic reform law immediately upon its enactment, to establish coherent guarantees for a promising economic future that will leave behind the rentier phenomenon and the problems of unilateralism."
He stated that "implementing the economic reform law will achieve for our country optimal use of all available resources (material and human), and at the same time guarantee a level of prosperity that results in sustainable growth in a diversified economic climate that guarantees development."
