CBI calls for economic reform for the country and reduce dependence on government
Erbil, May 23 / May (AKnews) – The head of the Central Bank of Iraq Shabibi today that the Iraqi economy needs to be reformed to reduce its dependency on the government, where you should pay more attention to non-oil sectors of small, he said, adding that he does not need to encourage the private sector.
The network quoted France24 French, quoting Shabibi, who heads the organization since the mid-2003 as saying: “We rely entirely on the government to provide employment opportunities, and the provision of development (…) where there are a lot of people think that the development of non-oil sector will take a long time, Perhaps the easiest way to go.
He called Shabibi Iraqi authorities to ease regulations in the sector of work and an increased focus on agriculture, industry and technology, adding that the priorities for the government that is working hard to ease the working conditions of the private sector, noting that we have in fact some types of regulations that hinder each type of development for this sector .
He knew a lot of people in the private sector to come to Iraq for investment, but can not continue because there are many problems facing them, believing that it is important to alleviate the conditions in order to work people, as the sectors other than oil can work, noting that Iraq is in industries non-oil needs a lot of work. “
He said that if Shaibi we talk about the reduction of unemployment, we must develop a truly non-oil sector, although it is very small, but is one of the sectors which should focus on. “
Said Franz 24 that sales of oil dominates Iraq’s economy and government revenues, reaching a yield of oil last month’s $ 8.8 billion, the highest income since 1989, and is generally two thirds of GDP and 95% of government revenue, adding that Iraq currently produces more than three million barrels per day, but seeks to increase this figure significantly in the coming years.
She said that despite the large share of oil in the economy, however, constitute only 1% of jobs, according to UN reports.