10/02/2011Required to develop the banking and the adoption of modern financial policy
BAGHDAD - Hussein al-Tamimi Tgb Said financial expert Dr.
Conciliator Abbas sack the importance of fiscal policy fit the reality of Iraq to serve the advancement of economic aspirations of the country so.
He pointed out that the work during the current need of the development of the banking public through the adoption of mechanisms entered the field of modern banking world, particularly the Iraqi cadres capable of running on the latest methods of banking if appropriate conditions exist.
Shakara added (morning): control in the financial sector, fiscal policy, which is a revenue management of financial resources for state and mechanisms of spending in any of the fields and the resulting deficit, which became accumulates year after year, indicating that this inability to cover the debt of both types of procedure and external, as it represents the first treasury bonds either external debt represents debt accumulated from the previous regime.
And said: "There must be employment is true for expenses that are growing continuously, where there are debts to go to parties with money with which it can cover its expenses if it worked according to plans, financial management successful, noting that the endowment offices, for example, receives money from the budget and get the assignments of the pilgrimage for the past years and can invest the money they receive to become self-financing.
He noted that public companies owned by the State is now a great weight on the state budget, because most companies out of action does not provide any support to the national economy, at the time that must be where these companies are supportive of the productive activity, through the supply of goods to the exhibitions in markets rather than displays of products away from poor quality control.
He continued by saying: you can fit the problems of financial management in the country through economics course right through which the investment income so as to achieve cost-effective enough to support the annual budget of the State, as well as the need to prepare the budget according to the principle of recruitment spending, according to plans pre-check the yield of the process of spending and check the accumulation of wealth and experience as well as human resource development in the areas of education, health, housing and scientific research, and all economic sectors.
He added: The talent working in the financial sector-specific political decisions and not the techniques of modern financial, especially as most of the staff of the Financial Sector in Iraq are holding advanced degrees in their field and can contain all the problems of the banking sector in Iraq, especially that we live in today's transition to market economy free, which depends mainly on the evolution of banking and the adoption of modern banking technology, pointing out that private banks were more developed than the government banks.
Shakara stressed the importance of the fight against financial and administrative corruption because it affects negatively on the reality of the work of banks.
Which alert to the need to activate the procedures to reduce exacerbation of this phenomenon in all fields.
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