Iraq’s economy creates poverty and fails to combat it

Experts said that Iraq’s economy depends on the distribution and not on investment and production, which means that, according to one of these experts, it creates a poverty economy does not combat it ..This is what the words of one of the most important economists in Iraq, Deputy Governor of the Central Bank of the appearance of Mohammed Saleh.

Saleh said that Iraq depends 95 percent on oil revenues as explained by saying that the distribution began after 2003 driven by a moral to involve the largest possible number of people with wealth hence the operation of more than four million people in the institutions of the state, a good number if we consider that the number of capable to work are eight million people.

However, the basic problem here is that this type of economy distributional non-productive, according to Saleh, who noted that 80 percent of workers in state institutions lack the production efficiency, which means the result that the Iraqi budget balancing consumer and investment weak, if not non-existent, and such economic , in the end, does not generate income but establishes poverty and without the presence of oil to Iraq suffered a much bigger problem.

Deputy Governor of the Central Bank of the appearance of Mohammed Saleh described Iraq’s economy as the economy casino means that money moves from one hand to the other without to lead to the production of anything he said that Iraq had spent since 2003 until now about 417 billion dollars, but spending has not led to the operation of any anything.

The best solution, according to the deputy governor of the Central Bank is to develop an economic plan and clear combine public and private sectors in order to implement productive projects income and able to contain labor.

Official called to deal with the economy in a centralized way to solve the problems of unemployment and production, and the like.

Saleh also said that the economy needed a courageous stand and saw that the leaders of Iraq to compete for a better economic policy instead of fighting on the political issues at all incomprehensible, he said.

Finally criticized the deputy governor of the Central Bank of the appearance of Mohammed Saleh leak wealth of the rich to the outside, saying that any amount out even if it’s small means that it does not serve Iraq’s economy, while leaving said Saleh that kind of savings practiced by the rich is that this practice is turning the country to the result of a country poor with widespread unemployment and underemployment true, which means that there are significant errors committed, including the failure to develop the industrial sector which is not even agriculture sectors able to absorb unemployment and operation of the hand are able to work.