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Central is preparing to launch a variety of loans amounting to one billion dinars, and economists warn of «interns public money»
Baghdad,
1/9/2015
preparing the central bank "within days" to launch financial loans agricultural and industrial "small, medium, up to one billion dinars," by civil and specialized banks, in an effort to move the market and stimulate economic development sectors, but specialists and businessmen warned of exploitation projects that money from the "mafias either" supported by political parties.
on the Keywords, Governor of the Central Bank, said in a speech, on Saturday, during a conference of businesswomen in Baghdad, attended by "the world" that "Iraq before the financial crisis and should prevent a through planning real to achieve economic stability ", calling for" reform of the base material successful and effective situation.
"He added Keywords that" Iraq needs economic renaissance able to achieve the country's resources, and without them there would be no economic stability, "pointing at the same time to" Iraq's need to market able to absorb economic advancement.
"He Keywords that" the central bank will launch loans to finance small and medium enterprises in the coming days to support economic growth in Iraq.
"He stressed that public expenditure did not contribute to the expansion of the productive base and did not achieve any development of the Iraqi economy, explaining that without business carried out by the bank to Iraq experienced a financially difficult situation.
In the same context, Keywords pointed out that "the Bank maintains the largest rates of good reserves of hard currency in the world compared to the money supply in circulation", adding that "these reserves is still money supply covering and a half times ".
He said the central bank governor that" reserves are changing on a daily basis depending on oil exports as the dollar comes from these exports, in addition to the coverage of imports which are variable elements, "noting that" what Iraq faces today from a financial crisis resolved through the vessels solutions interior such as loans and external, while long-term solutions be through a review of the restructuring of the economy through the budget preparation and rationalize spending and diversification of income sources and attract foreign capital.
"He added that" financial institutions that can support can not plug in the budget that are at high levels.
"approved The central bank last May to launch trillion dinars for private banks to finance small and medium enterprises loans, in what was dubbed during the Aug. 5 trillion dinars to support the specialized banks to provide loans to industrial and agricultural support economic activity and job creation.
For his part, the deputy head of Iraqi businessmen Union Bassem Jamil Anton, that "that those loans will be of two types; the first for small and medium enterprises, which will be funded from the amount of one trillion dinars, which lent the bank for domestic banks." The second type of loan, says Anton it "will be allocated for agricultural, industrial and real estate projects to be funded are the other of the five trillion dinars, which lent the bank for banks development specialist."
He noted that such loans may exceed one billion dinars.
"Said Anton told the" world ", that" the economic situation in Iraq and because of lower oil prices in a state of recession, particularly in the industrial and tourism sectors, "noting that" those loans will spend on the recession and the lack of financial liquidity faced by the country, "especially since it has the ingredients essential to revive any project which manpower, infrastructure, land and other, especially in medium and small projects.
He Anton that "this initiative is a golden opportunity for those who wish to work and make a good profit," calling on the competent authorities to "support those projects through monitoring the market and the reduction of the importer and the activation of the control measures internal and external border crossing points.
"But the deputy head of Iraqi businessmen Council expressed fears of" the exploitation of those loans by mafia money and the corrupt and critics of public money, "revealing the existence of a large number of those backed by influential political parties gangs are trying to have possible abuse of public money for the purposes of Personal.
The head of the National Investment Commission Sami al-Araji, said earlier that "a step the central bank and private banks will investigate the case of recovery and well-being in the Iraqi market and increase investment opportunities in the country of the need for the camp to a variety of projects."
They said that "the medium and small projects will support the market and suck Unemployment and the movement of the Iraqi economy and make it vulnerable to investment, especially with the presence of ongoing projects Every project is an extension of the large investment projects. "
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Baghdad,
1/9/2015
preparing the central bank "within days" to launch financial loans agricultural and industrial "small, medium, up to one billion dinars," by civil and specialized banks, in an effort to move the market and stimulate economic development sectors, but specialists and businessmen warned of exploitation projects that money from the "mafias either" supported by political parties.
on the Keywords, Governor of the Central Bank, said in a speech, on Saturday, during a conference of businesswomen in Baghdad, attended by "the world" that "Iraq before the financial crisis and should prevent a through planning real to achieve economic stability ", calling for" reform of the base material successful and effective situation.
"He added Keywords that" Iraq needs economic renaissance able to achieve the country's resources, and without them there would be no economic stability, "pointing at the same time to" Iraq's need to market able to absorb economic advancement.
"He Keywords that" the central bank will launch loans to finance small and medium enterprises in the coming days to support economic growth in Iraq.
"He stressed that public expenditure did not contribute to the expansion of the productive base and did not achieve any development of the Iraqi economy, explaining that without business carried out by the bank to Iraq experienced a financially difficult situation.
In the same context, Keywords pointed out that "the Bank maintains the largest rates of good reserves of hard currency in the world compared to the money supply in circulation", adding that "these reserves is still money supply covering and a half times ".
He said the central bank governor that" reserves are changing on a daily basis depending on oil exports as the dollar comes from these exports, in addition to the coverage of imports which are variable elements, "noting that" what Iraq faces today from a financial crisis resolved through the vessels solutions interior such as loans and external, while long-term solutions be through a review of the restructuring of the economy through the budget preparation and rationalize spending and diversification of income sources and attract foreign capital.
"He added that" financial institutions that can support can not plug in the budget that are at high levels.
"approved The central bank last May to launch trillion dinars for private banks to finance small and medium enterprises loans, in what was dubbed during the Aug. 5 trillion dinars to support the specialized banks to provide loans to industrial and agricultural support economic activity and job creation.
For his part, the deputy head of Iraqi businessmen Union Bassem Jamil Anton, that "that those loans will be of two types; the first for small and medium enterprises, which will be funded from the amount of one trillion dinars, which lent the bank for domestic banks." The second type of loan, says Anton it "will be allocated for agricultural, industrial and real estate projects to be funded are the other of the five trillion dinars, which lent the bank for banks development specialist."
He noted that such loans may exceed one billion dinars.
"Said Anton told the" world ", that" the economic situation in Iraq and because of lower oil prices in a state of recession, particularly in the industrial and tourism sectors, "noting that" those loans will spend on the recession and the lack of financial liquidity faced by the country, "especially since it has the ingredients essential to revive any project which manpower, infrastructure, land and other, especially in medium and small projects.
He Anton that "this initiative is a golden opportunity for those who wish to work and make a good profit," calling on the competent authorities to "support those projects through monitoring the market and the reduction of the importer and the activation of the control measures internal and external border crossing points.
"But the deputy head of Iraqi businessmen Council expressed fears of" the exploitation of those loans by mafia money and the corrupt and critics of public money, "revealing the existence of a large number of those backed by influential political parties gangs are trying to have possible abuse of public money for the purposes of Personal.
The head of the National Investment Commission Sami al-Araji, said earlier that "a step the central bank and private banks will investigate the case of recovery and well-being in the Iraqi market and increase investment opportunities in the country of the need for the camp to a variety of projects."
They said that "the medium and small projects will support the market and suck Unemployment and the movement of the Iraqi economy and make it vulnerable to investment, especially with the presence of ongoing projects Every project is an extension of the large investment projects. "
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