Prime Minister’s Advisor: Small loans occupy 60% of the market and support the economy.
Prime Minister’s Advisor: Small loans occupy 60% of the market and support the economy.
2025-05-23
The Prime Minister’s Advisor, Mazhar Mohammed Saleh, confirmed on Friday that providing small loans absorbs and provides employment opportunities of no less than 60%, while explaining that loans expand the activity of small enterprises and increase their contribution to the country’s gross domestic product. The Prime Minister’s Advisor, Mazhar Mohammed Saleh, stated that within the framework of administrative reform and combating bureaucracy, which are principles of the government’s program, the factor of simplifying procedures is the first priority in maximizing resource management and economic activity to achieve promising sustainable development in accordance with the development goals of our country.
He added that Prime Minister Mohammed Shia al-Sudani’s directive to streamline microfinance grants undoubtedly has significant benefits at both the individual and economic levels, as many microfinance programs target marginalized or emerging groups, such as women and housewives, contributing to their integration into the economy.
Saleh also explained that these loans are very effective financial levers for employment and stimulating labor market actors, as they facilitate the youth and those with crafts and skills to start their own projects, and open the door to entrepreneurship. He pointed out that they help generate a stable source of income for the individual and his family, and reduce poverty and unemployment rates by empowering individuals economically. Therefore, these small loans are a pillar of the financial inclusion policy and one of its goals in eliminating unemployment and achieving development and income equality as much as possible.
He explained that loans play a significant role in employment policy and influence labor market balance, by absorbing and providing employment opportunities that constitute no less than 60% of available job opportunities, not to mention their role in raising GDP growth rates. He noted that they “play a role in expanding small business activity, which increases their contribution to the country’s GDP.”
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