Iraqi strategy to stimulate the private sector
Iraqi strategy to stimulate the private sector
Posted 13/02/2015 11:10 AM
Haider Abadi, the Iraqi prime minister launched a strategy of 4 axes continue until 2030, aims to stimulate the private sector in the country to promote domestic production, which has deteriorated continuously for nearly 10 years, ensuring raise the proportion of its participation in the gross domestic product to 18 percent.
Ebadi said during the launch of the strategy conference in Baghdad yesterday that the Iraqi government is determined to the advancement of the private sector in the country and reduce dependence on oil to support the financial budget.
He added that for the development of the private sector strategy requires the development of the banking sector to ensure its success.
The Iraqi government announced orientation during the current year to activate the investment business in all economic areas of the energy industry to increase the annual financial revenue that is directly dependent on about 94 percent of oil exports.
Iraq is facing an economic crisis that forced him to reduce the size of the financial budget as a result of lower oil prices and start a policy of austerity, while the Ministry of Finance announced last month that it would increase taxes on some of the services provided.
altahreernews.com
