Economist calls for the revitalization of the banks and encourage savings and to maximize resources

Economic Page
January 26, 2016 10:55

Mowaffaq al-called economist Abdul-Hussein, on Monday, to activate the work of banks and encourage savings and to maximize the financial resources.

The Dean of the Higher Institute of Accounting and Financial Studies Abdul Hussein during a seminar hosted by the National Observatory for Media, said that "the difficult economic conditions experienced by the country with the fall in world oil prices and security challenges, makes it imperative for the state to maximize the financial resources across the revitalization of the work of banks and encourage savings and the issuance of the loan and borrowing bonds from the central bank and the sale of state property and farmland to the citizens. "

"As can through re-infrastructure of factories stalled, which is still 90% of them parked since 2003, while employees receive their full salaries from the state treasury."

Abdul-Hussein pointed out that "the economy needs to activate the national industries, which could cover the need of the market and thus allow Adinm hard currency out of the country to the outside, and the survival of liquidity in circulation within the Iraqi market."

It is noteworthy that Iraq is witnessing a severe financial crisis after the fall in oil prices significantly large deficit in the balance of the year 2016, all of this with a high war on terror to liberate the country expenses