Economist: can not move from a centralized economy to the ma

[Stillw8n]

Economist: can not move from a centralized economy to the market, but new legislation

Economic expert said on Friday that the transition from centralized economy to a market economy can not be achieved without new legislation in conformity with the freedom of the economy, indicating that the global economic recession will affect the decline in oil prices, which are central in the revenue column of the Iraqi budget.

The economist said on behalf of Jamil Antoine’s “Twilight News” that “the House of Representatives legislation of new laws compatible with the transition from centralized economy to a market economy,” explaining that “no economy can work free without legislation compatible with the freedom of the economy.”

“The operational PROFILE still overcome the investment in the public budget, and this will make the government look concerned about the volatility of oil prices in the world.”

The current production of Iraq, about 2.7 to 2.8 million barrels per day of crude oil, and relies on imports to cover the financial budget by up to 95 per cent.

And Antoine, “The global economic recession will affect the decline in oil prices, which are central in the revenue column of the Iraqi budget.”

The Iraqi Deputy Prime Minister for Energy, Hussain al-Shahristani has said on Wednesday that it would be difficult to accept the descent of global oil prices from $ 90 a barrel, a sign that the decline in prices began to cause concern to some members of OPEC.

According to observers, economists, the Iraqi economy, which suffers from problems in its infrastructure because it is in need of large allocations in order to rebuild suffer budget of the year 2011 from fiscal deficit beyond $ 13 billion, with an attempt to increase its production and export, and thus would be a great opportunity to increase revenues and to address the deficit with review the plans and programs established by the government.

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