Experts: national economy “strong” compared other Arabic countries. And Iraqi citizen and the consumer doesn’t know how to invest

Posted: September 11, 2012 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Date: 2012-09-11 12: 25: 17 Tuesday

Baghdad (News)/report/Hussein Faleh/… As a result of years of deprivation and destruction of Iraqi citizens since the 1990s made him after the regime change in (2003) compensates that eluded him in especially after high standard of living through increased staff salaries and retirees as generated by the case of waste and drainage for money to buy unnecessary things of life and not think about how to invest the funds collected in small or medium-sized projects will benefit him first and promote national economy.

This noted economists and lawmakers privately (for news News Agency), stressing that the national economy is one of the strongest economies of the region to its large reserves of natural resources may lurk under the ground either oil or gas or sulphur and other.

Member of the Committee on the economy and investment Deputy/block Iraq’s Aziz, Paul: the Iraqi citizen consumer is more than an economic and this situation is not new, but existed for long periods of time, for example, that the Iraqi people with generosity, always be varied Iraqi table of all shapes of fruits so that people have a limited capacity to eat and he cannot eat all this food, this type of waste.

He continued: in addition to consumption of other materials such as clothes and furniture, other things that might not be necessary for life.
Added (to news agency would): the case of citizen consumption increased significantly after the year (2003) as a result of anah the Iraqi people from destruction and tragedy and deprivation by the policy of the former regime, consumer representatives and wasteful and not think about how to invest the funds collected for the standard of living increased after a year (2003) compared to previous years.

And called for the need to broadcast outreach programmes for citizens by reducing consumption and encourage him to employ his money in projects that serve the country whether small or infinitely small.

But between the planning Ministry spokesman Abdul Zahra Al-Hindawi: no official indicators and real numbers to the Ministry of planning that Iraqi citizens or consumerist economic but generally believe that the consumerist ‘ template is more than productive especially in the early years of change (2003) evidence that the Iraqi people have suffered a lot in the time of the previous regime has restricted the purchase of much of the material is now self-paced it compensates that eluded him.

He said Hindawi (News Agency news): the rates of consumption ‘ began to decline that satiation needs requirements four years after the year (2003) and started down the proportion of consumption will reach stability in the coming years.

Said: that the people of Iraq society Eastern and East communities usually consumer but varying proportions, the Iraqi citizen lived a decade State of deprivation and are not available with the simplest stuff but after the high living standards of Iraqi citizens there prompt process requirements that were previously living yftkerha but began less over time as a result of all the requirements of daily life.

He noted that the national economy is one of the strongest economies of the region to guide it when the global economic crisis in Europe and America, damaged some rich Arabic States and near Iraq kalamarat United Arabic while Iraq would not be affected because of its large cash reserves and natural wealth may lurk beneath the ground.

While criticized by economist Jamil, lifestyle Iraqi citizen as consumer and spendthrift and not think about how to invest his money as a result of the conditions of deprivation in the 1990s.

A beautifully (News Agency news): the Iraqi citizen lived a period of deprivation and austerity after the international economic embargo imposed after (1990) created his desperation and weak thinking about overall life issues, but the previous year after regime change (2003) start free offset that passed him over the years.

He continued that the border opened up to all countries of the world and become a trader importing various types of goods without restriction, as well as the purchasing power of citizens (2003) improved a lot and made it consumes all imported goods and sometimes sows his money to buy unnecessary items for him, what made the Iraqi citizen turns from tight to the spendthrift consumer economic.

He noted: the volume of commercial exchanges with neighboring countries of Iraq is very large compared to what it was a year ago (2003) where the volume of trade in the last year more than 50 billion dollars of imports, mostly with Turkey (13) billion dollars and Iran (10) billion dollars and China up to 4 billion dollars, and Syria (3) billion dollars and Jordan $ 1.5 billion, as well as other countries including Iraq imported goods and commodities.

He added: the Iraqi citizen must have a particular goal in procurement and to invest its funds in investment projects serving the country or saved in banks in order to support the national economy and its development.

Iraq had been adopted during the period of the embargo dependent on oil-for-food program, launched in 1996 and contributed a partial lifting of the suffering of Iraqi citizens, the programme continued to power cycles each period was 6 months allowed Iraq to sell part of its oil to buy food and medical supplies and materials that could be used to reconstruct a partial service facilities in Iraq.

Was discovered later that this program has suffered a lot of administrative corruption problems where the involvement of senior officers from the United Nations in cases of bribes and embezzlement which access a fraction of these funds to the Iraqi citizen.
In 2000 adopted a resolution dealing with Iraq in euros instead of u.s. dollars in oil sales deals.

Before the invasion of Iraq, 2003 Iraq production to 3/4 of what it was before the Gulf war, the United Nations deduct 28% of Iraqi oil exports for the United Nations and the administrative processes related to the oil-for-food programme.

Upon arrival of Paul Bremer and the Coalition authority has consolidated a series of decisions towards the promotion and application of the private sector in Iraq or the so-called privatization, particularly in the oil sector and allowed Paul Bremer full ownership of non-Iraqi companies for interests in Iraq and the imposition of taxes on these foreign companies of 15% but these plans and economic decisions were not applied by Governments that came after the coalition and are respectively the Governing Council of Iraq and the Iraqi interim Government and the Iraqi Transitional Government and implement the resolutions of the privatization In 2006

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