Government bond market sedate ensure implementation

6/15/2016 0:00

BAGHDAD - Hussein Tgb
He warned the head of the Iraqi National Business Council David Abdul Zayer to the importance of the establishment of the market for government bonds, like the Iraq Stock Exchange trading within which these bonds is an economic necessity.

He added in an interview with «morning» that the establishment of the market for government bonds needs to be a real turning point for the economy of the open market, pointing to the importance that there be a planning mechanism for repayment next two years.

High transparency

He pointed out that the country is in dire need of such a market that should be characterized by their dealings with high transparency in accordance with the plans showing revenue and payment processes that accompany this aspect, stressing that the establishment of the market these specifications do trust between the government and the private sector, especially the private sector dues would be paid in the form of bonds government and this is a guarantee by the government for the efforts of the private sector and ensures the implementation sedate.

David pointed out that the private sector sober continued implementation of projects during the past period and spent a lot of order to accomplish the project and bear the weight of spending on important projects under financial distress experienced by Iraq, noting that lousy companies came out of the field was not able continue working under the circumstances current.

7 trillion dinars

He disclosed that the private sector owed by the government Tkd 7 trillion dinars, and the interest of the government to pay these benefits entitlements is a step in the right direction that keeps the real private sector is able to implement the most important projects in the country, because it has the operational capabilities of the technology and human forces that specializes in Mekhlef business .

And between David importance of working to strengthen domestic investment and revenue through the development of viable plans economically to invest customs and taxation, telecommunications, air and water revenues as well as real estate, hotels, explaining that these sectors can provide huge amounts of money the general federal budget and reduce the financial shocks that hit the global and local economies, particularly the Iraqi's fiscal revenue depends largely on the global oil market.

International loan

And international loans said that the international value of the loan amounting to $ 18 billion over six years, according to the terms and watching each installment Wayne employed in the health and education sectors Wayne passes the first installment and then straight the other and so, pointing to the importance that supports the poor and that there is a health insurance binding for the poor and the staff is also applicable in the countries of the world and can employ a percentage of the loan to raise the level of health services provided to citizens.

He urged the need to have international loan in the joints of productivity to be economically feasible and does inability activated sectors over the past years, where it can stand up to industrial production, which is the focus of the development of the national economy and the most important step to achieve sustainable development, and the education sector is detailed important in measuring the the development of society and has the ability to raise the capabilities of the country by creating efficiencies educated able to mastery of advanced technology needed by Iraq in all service and production sectors.

He pointed out that the international Zayer terms of the loan, which was developed by lenders chime and the demands of the Iraqi private sector in many of the joints, especially as the two sides focused on the need to give economic development a priority in the recruitment business. The Zayer had drawn in an interview earlier that the council in front of him the task of promotion of the private sector through communication with government agencies and discuss the activation mechanisms by providing an appropriate environment for the advancement of the field of production and services that task lies upon himself, stressing that the Council committees diagnosed private sector requirements and how It can do Wi-laws that intersect with each other and confuse the process of work.