Special Expert identifies the reasons for the exit of foreign currency and determines how to curb the leakage
Special Expert identifies the reasons for the exit of foreign currency and determines how to curb the leakage
02/12/2018
Direction / Special
DAMASCUS (Reuters) – The hard currency in Iraq is still vulnerable to a return due to imports, economic expert Samir al-Nusairi said on Sunday, blaming the “bad” goods coming from China, while putting forward proposals that would preserve hard currency.
“The imports in each country are traded in hard currency, while in Iraq since 2003 and so far has not been supported domestic production, which is the basis in the determination of imports,” he said, noting that “the import is complementary to domestic production and not A substitute for, but after the opening of borders and markets and the refuge of poor consumer goods, especially from China and cheap prices and the absence of domestic production led to the exit of hard currency through the importation of private ritual mainly.
He added that “the best solution to maintain hard currency is the government’s support of local production and the activation of the law of the protection of local product and consumer protection, which are laws on the shelves for years and has not been activated,” stressing the importance of providing raw materials and electricity for laboratories and the structure of government laboratories And involve the private sector in their management. ”
Al-Nusairi said that “Iraq without local products comparable to the importer can not maintain its hard currency as required.” He pointed out that “the need to compensate the currency in the budget and allocate amounts to restore the work of government factories, which exceed hundreds of numbers and make the private ritual is led.”
“We are not a country with a British approach, but a market economy in which the private sector plays a key role and must be supported by the government,” he said.
The deputies and observers, stressed the need to activate the industrial and agricultural sectors in order to
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