Ammar Tohme: external borrowing leads to negative repercussions on the national economy

Ammar Tohme: external borrowing leads to negative repercussions on the national economy

July 29, 2015 14:21

Ammar Tohme - external borrowing leads to negative repercussions on the national economy(Independent) .. the head of the parliamentary virtue Ammar Tohme warned that the trend of foreign borrowing for the purpose of bridging the gap between the revenue and expenditure in the budget does not represent the best choice, but could lead to repercussions and negative effects far-reaching stability and cumbersome national economy to the shoulders of the citizen.

He said Tohme addition to the harsh conditions that accompany the external borrowing of claims action is increasing the pressure on the citizen and comply with national economic decisions vision and programs of those international institutions which may not match the economic and social reality, so the alternative proposals range can be adopted to overcome the complications of external borrowing.

He suggested Tohme encourage Optional savings for citizens and the stimulus it calculates the fans more than the interest rate in normal circumstances to ensure the feet of citizens on savings and deposit thereby contributing to the financing of State liquidity extra and be through the issuance of the national authority for the general public and price the value of a bond equal to a hundred at a dollar rate of interest minimum to ensure the expansion of citizen participation, considering that this price unaffordable for the majority of people and the price of fan interest and the duration of the specific emissivity not less than one year. ”

He also called for national Issuance of Sindh for industrialists, traders, businessmen and the value price of the bond are motivated by the acquisition and the duration of emissivity ranging from three to four years and by encouraging interest also, and we invite industrialists, traders and Iraqi businessmen at home and abroad to contribute to the financing of the budget liquidity through the National Sindh.

Tohme and pointed to the possibility of the contribution of the central bank in dealing with the financial crisis and support development through withdrawals from the reserve balance of the amount, which does not affect the stability of the local currency to be able to by those amounts of compensation for the shortfall in revenues and employ them in investment activity in the public services sector and productive sectors and to support security efforts.

And student pressure unnecessary expenses, including the expenses allocated to furniture and non-essential goods and deputations and buy cars for the ministries as previous experiments revealed the presence of allocations within the general headings are not necessary and does not represent a fundamental requirement of needing or important.

He also called for activating the work of the regulatory institutions and strengthen mechanisms to bridge the guarantor ports on the practices of corruption and financial resources wastage of public money.