Face liquidity crunch launch investment

2/27/2016 0:00

Proposals for the provision of financial resources

BAGHDAD - morning
Mokhtassan called in economic affairs to find solutions to limit the fallout from the economic crisis, suggesting at the same time launch investment and diversify its revenue by imposing taxes on non-essential imports and on the mobile phone networks which would provide liquidity and minimize the impact of the crisis on the public.

The student member of the Baghdad Economic Forum Jaafar Yassin stimulate the national economy and overcome the financial crisis by finding solutions that fit what is going through the country and influenced by a decline in oil prices, economic conditions.

Yassin said in an interview for »morning» to the need to pay attention first to attract foreign investment to implement projects that absorb unemployment and contribute little to the revitalization of domestic capital cycle, stressing that a good chance to take the private sector role in development.

Investment agreements

And the importance of resource utilization and the enormous potential that stores them Iraq, the strategic location enjoyed by, to attract local, Arab and international investments, particularly those destined for the establishment of industries can be exported to regional Pacific markets, noting the importance of strengthening foreign relations, and join the economic and new trade and investment agreements.

He said that the application of labor per window active role in coaxing the local foreign investor before, pointing to the need for the presence of a representative from each economic circle in this window in the Hyatt provincial investment.

Yassin pointed to the importance of providing facilities to the private sector, including tax relief and provide protection for investment projects carried out by especially productive projects in various sectors.

Investment environment

He said it is necessary to improve the investment environment as well as monetary and banking policy and the development of new tools and mechanisms to finance development projects, calling for the exploitation of the free zones and to its role in achieving regional economic integration.

Turn someone academic economist, Dr. Essam Mahouelle economic crisis experienced by the country as the multiple causes of the problem, notably the drop in oil prices and the war against Daash apostate government spending to the wide side of the uncontrolled import of goods and are not necessary to the community at this stage.

Demand and liquidity

Mahouelle said in an interview with «morning» that the large number of requests for liquidity and to meet the social needs have emerged and grown in recent periods, including, for example, the growing open community colleges and illogically, away from the ability of the Iraqi economy to absorb the armies of graduates.

He suggested Mahouelle solutions to several of them immediately stop importing goods that can be manufactured locally, reducing the aid of government departments, factories, companies self-financing for the purpose of urging them to promote their goods, preceded by a re mechanisms import and payment to normal and control vocabulary of goods to be imported by neutral economic commission and the problem of the owners terms of reference of banking, industrial, agricultural, financial and cash.

Financial deductions

The Ray-Ban to stop any deduction from the salaries of employees and retirees would alleviate the repercussions of the crisis on the two tranches they represent element of daily consumer spending component of the basic income cycle.

Mahouelle called to charge excessive fees and taxes broadcast on mobile phone companies and prevent them from increasing Rtat charges as it did previously, forcing citizens unexpected burdens eased for those powerful companies in financial contributions to the state budget.

He stressed the importance that the government intervene in the control of the crisis by imposing price controls, especially foodstuffs to limit the repercussions audience.