The appearance of Mohammed Saleh: Project Housing Fund will raise economic growth rates

March 23, 2016 8:29
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Economic Adviser to the Prime Minister emphasized the appearance of Mohammed Saleh, Tuesday, that Iraq and because of the economic crisis, needs a strong push to stimulate the market and raise economic growth rates.

Saleh said in a statement I followed news agency Buratha that economic growth today without 2%, this means that Iraq has a recession and unemployment is estimated at 25%, indicating that the start revitalization of industry and agriculture sectors is difficult and take a long time.

He noted that the state has chosen the most influential sector to supplement the economy, a construction which usually absorbs 20% of the labor force and this if invested properly will spend on unemployment in Iraq.

He added that Iraq today is going through housing crisis, where he needed three million housing units in addition to the liberated areas where exposed citizens housing for the ruins, pointing out that the draft Housing Fund will assist in the eradication of this crisis by giving facilities to the citizen begins fifty million Iraqi dinars, from in order to help him construct a simple housing units.

He said that these facilities will help in the revitalization of the market by increasing demand for construction materials and labor, saying the move was positive, timing is very appropriate, where it has substantial economic returns.

It is said that the Minister of Construction and Housing Tariq Kikhany, announced a few days ago about the amount of central bank lending trillion and 200 billion dinars for the housing fund.

He Kikhany The Iraqi Central Bank lent Housing Fund amounted to $ 850 billion dinars will be spent to fund housing and then the bank for disbursement to the citizens of borrowers and the amount of 350 billion dinars, the other with a financial abundance.