Baghdad The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that: The development of non-oil revenues is important to end any future budget deficit.
He told the National Iraqi News Agency (NINA) that: Ending the decline in non-oil revenues in the items of budget revenues and reducing dependence on oil revenues depends on increasing revenues from the agricultural and industrial sectors.
He explained that: the most dangerous of the budget deficit is the structural deficit in the real productive sector, as the contribution of the agricultural and industrial transformational sectors still contributes only 4-5% of the components of the gross domestic product and includes a human force estimated at 37% of the Iraqi labor force, but with productivity weak and faltering incomes spread poverty and destitution.
He stressed that: The solution lies in the strong and effective participation of the private sector and the participation of its surpluses and savings within the framework of an organized social market economy that is protected from arbitrariness and bureaucratic threat from official rentier forces that have roamed the state apparatus and are still suppressing development.
Source: National Iraqi News Agency