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01-24-2010, 01:43 AM
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Minister of Finance: PROFILE investment this year will provide 600 thousand jobs

Saturday, January 23 Date: Saturday, January 23

ا Page name: the first page of the morning newspaper



Confirmed the government's bid to install the contractors to permanent staffing

بغداد ـ طه حسين Baghdad, Taha Hussein




Finance Minister Baqir Jabr Al-Zubaidi, the government has allocated $ 20 billion for the implementation of new investment projects will contribute in providing more than six hundred thousand jobs for the unemployed, the Ministry expressed a desire for contractors to install permanent staffing gradually.


The minister said in an interview with the "morning" that the government has allocated twenty billion dollars in the current year budget for the implementation of new service projects across the country will work to provide jobs for more than six hundred thousand people from different disciplines, in addition to agreeing to provide more than 115 thousand degrees functional distributed among a number of ministries including the interior, defense, education and health for the operation of sections and departments that have recently opened in those ministries.








. He pointed out that the ministry will develop a plan to install the contractors with the state departments on staffing and permanent especially diligent of them, noting that the process will be proofed in phases over the coming years, noting that the state budget does not bear the expenses at once, particularly that Iraq had borrowed the amount of six billion dollars International Monetary Fund for the first time after 2003.



With regard to the law of the salaries of employees of the Internal Security Forces which was approved by the Council of Ministers, it was revealed that al-Zubaidi and finance and interior ministries have agreed to calculate the allocations received by police officers from within the nominal salary to benefit from the increase amounts retired.




On the other hand, between al-Zubaidi, the ministry sought to extinguish all debts on Iraq after its previous efforts culminated in success through the reduction of eighty percent of them, stressing that the ministry has recently succeeded to convince a number of creditor nations in extinguishing the debt as was the case with Denmark as well as for the ministry preliminary approval to a number of Arab countries that were determined to keep their debt to extinguish it completely, adding that the government's decision to make the priority to companies in countries which extinguished the debt by one hundred percent of investment in Iraq and contribute to the implementation of reconstruction projects, is urging other nations to take similar steps , warning that the fire will reflect positively on the debt in future fiscal years because Iraq in the absence of reimbursement will put out since 2011.




And on the main reasons for re-balancing in 2010 by Parliament and not to ratify it, the minister said: "We are a ministry of finance does not mean that we lack the budget to anything because we are authorized by the law of financial management, release the money since we launched 112,010 and actually pay staff, retirees and protection network Alajtmap and the amounts of the ration card , in addition to ongoing projects, noting that there are points of contention between the government and parliament, most notably ask Parliament to transfer twenty percent of the amounts allocated to the ministries of service to the budget of the provincial councils to give priority to the implementation of recent projects in their districts to get rid of the central system as is the case in most developed countries in the world such as the United States, Spain and India. "






We know that the Constitution gives full authority of the Council of Representatives in transfers, according to the article" 62 "of it, but the prime minister insists on non-deductibility of this amount and keep the share of ministries as is".




The minister said the thing which does not allow the Ministry of spent longer authenticate the House of Representatives next budget includes the implementation of new projects, these projects are few in number compared to the ongoing projects which constitute the overwhelming majority, calling on all provinces to receive twenty percent of the amounts of financial allocations for each province.





In regard to the banking sector, Al-Zubaidi said that the ministry made a great effort in the rehabilitation of this vital sector, especially that it has received a study conducted by the "point tower" recommended that banks should be shut down Iraq, rational and real estate, agricultural and industrial, as she suffers from a real crisis, but the ministry and found better to work to provide adequate support to these banks and restored to its former level, and actually embarked on the rehabilitation of the Land Bank and providing material support a $ 200 million for re-lending activities to the citizens and the Agricultural Bank was able to grant more than 80 thousand loan to finance agricultural projects in 2008 and more than this number in 2009, noting that the way lending is done through the provision of the borrower leaves the agricultural enterprise, which intends to implement in order to determine the right loan with benefits not to exceed 2 percent. The Minister commended the work of the banking sector, stressing that the Rasheed Bank has gone a long work in the application of the banking system overall through visa can deal through which he has a bank account in Baghdad to withdraw the penalty from the rest of the branches of the bank in Basra or Mosul or in Oman or Yemen, and others, noting that the value of establishing this system amounted to ten million dollars.



He added that the ministry's support is not limited to government banks, but included private banks through the allocation of funds for lending, where the bank that can be capitalized at one hundred million dollars of borrowing in the amount of four million dollars and the bank with a balance of less than this amount can get a loan of two million dollars only, stressing that the ministry aims, through this action to encourage banks and increase its capital.






Zubaidi revealed that the ministry and, despite its success in rehabilitating the banking sector, but they were unable to re-energize the insurance sector, pointing out that there is a heavy legacy of restrictive laws and Insurance in accordance with the socialist system.





He said the ministry is now working within the laws of free market economy, so they need to change those laws, noting that the process requires a long time because of the multiplicity of actors that are subject to the process of passing laws. On the question of removing Iraq from Chapter VII Zubaidi said the government was required to take a number the most important steps to end the file to work on the debt of the country and close the file lawsuits filed on Iraq as a result of the previous regime's practices before the United States and these carry their numbers and amounts of scary up to a trillion dollars, adding the government had formed a committee headed by Advisor to the Prime Minister of Legal Affairs, Dr. Mohammed Fadhil Jawad entered into negotiations with the U.S. State Department which was agreed to pay a specific amount of the U.S. government to settle the compensation with the citizens as I got with Libya and the amount not to exceed four-hundred million dollars.



"The other step is the need for Iraq to find an alternative to the expense of the development of Iraq protected by the United Nations and the United States. On the question of Iraq's accession to the WTO, said Zubaidi, Iraq needs time to be able to resolve the issue of which system that works when he was working for the socialist system sometimes and at other times, a free market, noting that the country's accession to this organization requires the introduction of the free market.