Statement of the Ministry of Finance

Statement of the Ministry of Finance

10/21/2020 14:05:04

Statement of the Ministry of Finance{Baghdad: Al Furat News} The Ministry of Finance issued a statement today, Wednesday, regarding the economic reform and the reform paper.
According to a statement, the Euphrates News Agency received a copy of it, “within the framework of the Ministry of Finance’s continuous endeavor and based on its responsibility to reform the current economic and financial reality, the ministry, through the visions that the financial reform paper carries, is moving towards a diversified, multi-source economy.”
She indicated, “The reform and activation of the private sector is done by creating a stable investment environment and reviewing some self-financed public companies, in addition to activating the collection of the electricity sector.”
The Finance stated that “the reform paper also seeks to change the course of the national economy from the role of state control to the role of regulation and law enforcement, paying attention to vulnerable groups and social welfare, and working on making radical improvements to the state’s management of the public financial system to reduce the continuous waste of resources.”
“The restructuring of the banking sector is an urgent necessity, as it is the backbone of any economic expansion through developing deposits and loans with a mechanism different from the current one,” the statement continued.
The Finance pointed out, “The current decline in productivity and income due to the dominance of the non-productive public sector calls for the development of real and scientific treatments, and this is what the financial reform paper seeks to do.”

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