The World Bank: Appointments are inflated and the consequences are cumbersome

The World Bank: Appointments are inflated and the consequences are cumbersome

Monday 8 February 2021 | 10:49 a.m.

The World Bank - Appointments are inflated and the consequences are cumbersomeThe World Bank warned, on Monday, that government appointments in Iraq are witnessing great inflation and burdensome financial and economic consequences, stressing the need to encourage investments in an appropriate environment and revitalize the private sector .

The Resident Representative of the World Bank in Iraq, Ramzi Numan, said, “We are trying very seriously to support all reform efforts undertaken by the Iraqi government, and when we look to solve the issue of deflation, this comes through job creation, and we believe that the Iraqi society is a“ youth society ”, constituting youth. It has a basic wealth that must be built upon and given appropriate opportunities to enter the labor market within a large process that begins with education and other factors, and job creation is not necessarily through government appointment, which is witnessing great inflation and has burdensome financial and economic consequences, but by encouraging investments in an appropriate environment and revitalizing the sector Private, and restore confidence between the citizen and the government .

Ramzi added, “The World Bank seeks to support the Iraqi government in developing very sound fiscal and monetary policy frameworks that allow for the continuation of financial and banking work, and on the budget, we are waiting for the Iraqi parliament to vote on it so that we can know the possible support lines from us for the government, after the income and expenses are scheduled and what It is the total deficit resulting from the budget, and what are the matters that the government will resort to to face this deficit, whether by way of internal or external borrowing, and how the government should pay off the debts owed by it and its arrears, and after that the World Bank will have a clear position in support in two parts of the investment through funded projects, And budget support, which is a part related to the basic reforms that the Iraqi government is committed to, which are fundamental reforms that allow improving the country’s financial and monetary reality in stages .

Ramzy pointed out that “the World Bank supported the unified pension law that was proposed in Parliament, and our approach in that law was to establish a law between the public and private sectors allowing the transfer of benefits between them, which is one of the main incentives that push citizens to seek work in the sector. The private sector does not pressure the public sector, which reduces the burden on the government.