A call for the establishment of a bank for small businesses

7/6/2016 0:00

BAGHDAD Shokran Fatlawi
The member of the Forum of Baghdad Advisory Council Economic to the importance of benefiting from IMF loan put a development program that supports the private sector and develop its contribution to the productive sectors through the establishment of a bank for the financing of small and medium enterprises which contribute to the state by no more than 25 percent and 75 percent of the private sector that is managed the mentality of the national private sector, in order to achieve the diversification in the general budget resources.

He Alnasiri Speaking »Sabah» that do the formation of the Supreme Council for Economic Affairs and composed of experts from government and the private sector, accompanied by the activation of the themes that appeared in the government program and determine the timeframe for implementation through the development of policies and mechanisms of implementation and practical work on the development of economic sectors, the trends check what is stated in these hubs, as well as management of the economy Baktaath cost Optimally.

Procedures and mechanisms of implementation

He noted that the reactivation and development of operational mechanisms for economic reform measures through the steps that prepared by the Committee competent experts in the Council of Ministers with a focus on what I've ever had in Mahoralzeraih, industrial, finance, insurance, tourism and services and the actual start implementation and determine the time ceiling to put it into practice and identify all implementation elements It can resolve the economic crisis experienced by the country and the resulting sharp drop in oil prices and the war on terrorism.
He urged the need to watercourses quick action to tackle the financial liquidity crisis due to the economic self-represented in bad economic planning and lack of benefit from the economic, financial and technical expertise to the work of basic economic episodes administration in the state to the problems, pointing out the need to adopt the experiences of countries in the world that have passed the envelope himself as payment on credit and borrowing and internal austerity and prepare War budget.

Accelerate the economic cycle

He noted that the activation of the application and to identify the mechanisms and regulations for the implementation of the amounts allocated by the Central Bank of Iraq, amounting to one trillion dinars to finance small and medium enterprises, and five trillion dinars to finance specialized banks (agricultural, industrial and real estate and housing fund) to lay the groundwork for a clear guarantee the transparency of the data and those who were loaned by government and private banks is accompanied by the development of a proactive monitoring and during the implementation and post-implementation on the beneficiaries of these loans not to mention the creation of the Department of the Central Bank for monitoring and evaluation and audit sponsor central goal of the service allocated to accelerate the economic cycle and reduce Unemployment.

He stressed the need to develop operational procedures to activate and implement strategies designed and approved and announced concerning the development of agricultural, industrial and banking private sector, in accordance with the priorities adopted by the strategy and the development of projects in place that the purpose of their contribution to economic development.

Liquidity crisis

And between a member of the Forum of Baghdad Advisory Council Economic that the reactivation of basic economic principles mentioned working on building a healthy economy achieves the final of its findings viable economy exceeds the cash that led to a large deficit in the general budget for 2016 and its reflection on the rising unemployment rates to more than 30 percent of the forces capable of crisis to work as well as a rise in the rates of poverty rates of about 25 percent, according to official indicators issued by the ministries of planning, labor and social affairs.
He Alnasiri, that the magnitude of the threats to the country internally and externally, especially those pertaining to expectations of economic collapse and the waste of public money and the continued decline in global oil prices require a stand seriously by the government and the political and public authorities to protect the country and sustain their economy according to the factual data the concrete, either with regard to reforms in the long term can be adopted economic Kstratejah, including application and realistic axes of the government program and packages of economic and political reforms, and service to address poverty, unemployment and poverty and restore the country's money