Minister of Planning: private sector development priority for development plans

Saturday 08-08-2015 | 6:28:10

Twilight News / Planning Minister Salman Jumaili confirmed that the ministry "locked" to be the importance of the Iraqi private sector an active role in the development proper construction process as one of the strategic processors out of the problems of the national economy as a result of its heavy dependence on oil.

Jumaily said during his participation at a conference to discuss the mechanism and the launch of loans for industrial and agricultural real estate for banks which was organized by the Iraqi Central Bank to finance the private sector five trillion dinars, "This loan, which came on the recommendation of the crisis cell will help the development of the Iraqi economy and address the financial problem faced by the country currently. "

He added that "the said loan will provide specialized liquidity of commercial banks and enable them to provide loans to industrial and agricultural as well as providing housing and real estate loans and this would be reflected positively on the estimated economic activity and provide jobs for the unemployed."

It is worth mentioning that the Ministry of Planning recently organized an extended seminar for brainstorming in the economic and development side, during which a group of economists Iraqis in the government and private sectors hosted the seminar participants recommended the need to activate and expand the role of the private sector to be a key partner for the public sector in building the national economy.

So it was the Five-Year Development Plan 2013 - 2017 has set the contribution of the Iraqi private sector in the investment process in the country with 21 per cent as part of a trend towards giving the sector more important to contribute to the reconstruction and achieving diversity in the Iraqi economy, which confirmed the development plan process that a free economy competitive and sustainable.