Experts suggest investment bank deposits up to $ 25 billion
Experts suggest investment bank deposits up to $ 25 billion
Posted 06/08/2015 04:09 PM
Economic circles suggested the possibility of investment bank deposits amounting to about 30 trillion Iraqi dinars (25 billion dollars), to deal with the results of the financial crisis resulting from the drop in world oil prices on the economic situation of the country, as well as the budget deficit.
Kamal Al-Basri said financial expert and head of the Iraqi Institute for Economic Reform, that «bank deposits amounting to more than 30 trillion dinars can be used to meet the deficit of the state budget, through the sale of government bonds».
He pointed to the need to Jbabh fees and taxes in the form of more efficient, and the advancement of the existing industries that do not have efficient currently not enough revenue to meet the cost of production, which requires urgent intervention for their advancement and benefit from the paybacks.
He pointed out «the importance of applying the vocabulary of good governance and to benefit from this experience in the future when the high rate of growth, and increased oil production that are supposed to be offset by growth in the production of goods and services».
As called Hassan al-Asadi, an economist, to «the need to resort to the banks and major financial institutions, to ask for loans deadlines medium to address the financial situation in Iraq, especially after the decline in fiscal revenues from the export of crude oil, as well as the urgent need to develop new economic strategies and their application».
Asadi promised that such loans achieves refreshing temporarily Iraqi economy through the payment of the state debt to the private sector, especially the construction sector, which will revive the construction, which will support turn a wide segment of the working sector, and leads the other hand, to the completion of stalled projects, which are at an advanced proportions, and put them in Service for the benefit of citizens and the state at the same time.
He pointed Asadi, said in an interview carried by the «life», that «such loans and areas of investment to serve the citizen, will spare Iraq the worst happens, warning to the dangers of unexpected and work on them with all seriousness and concentration, and not be neglected in this delicate situation which is going through the country, especially those relating to the loss of jobs due to stop projects. »
He stressed the urgent need to develop a new economic strategies and apply them to come out of Iraq in a better position, pointing out that the major economic problems is to rely on one source of income which is oil, and the existence of disguised unemployment in great shape, where there are more than four million government employees, which may number There are no countries in the superiority of the population in Iraq. In addition, administrative and financial corruption with the routine and bureaucracy are all a major cause continuous waste of people’s money and the state.
He said al-Asadi, said «we have to keep in our calculations solutions for large problem we face now and in the foreseeable future, after the defeat of Daash, a reconstruction of the affected areas and to address the deterioration of infrastructure, not only in the occupied territories of Daash, but on the level of Iraq, the great and the lack of public services Basically, all of which add significant burden to the national economy in light of declining oil revenues and the lack of economic alternatives. »
He continued, «logical that there is a fear of the repercussions of the collapse of oil prices, which is a privilege of President supplier to the Iraqi budget», pointing out that «the most important topic that reflected negatively on the overall activities of the private sector is the reluctance of the state to meet its financial obligations to the private sector».
altahreernews.com
