Will the state adopt the provision of sovereign guarantees to finance private industrial projects?
Will the state adopt the provision of sovereign guarantees to finance private industrial projects?
06/28/2024
The financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, explained today, Friday, that the state has adopted a policy of providing sovereign guarantees for loans obtained by the private sector to finance an important package of private industrial projects.
Saleh told Al-Furat News Agency: “There is a fundamental link in financing and implementation adopted by the government curriculum and public policy in development, and its basics are summed up in the high implementation of listed and ongoing government investment projects, which have faced delays and cessation for many years.”
He added, “The current investment program is based on completing the implementation of investment projects without interruption and in accordance with the financial resources allocated to them included in the Federal General Budget Law, while ensuring the sustainability of the funding sources necessary for the continuation of implementation, especially in the field of high-service infrastructure such as projects to develop electricity, drinking water, roads, sewers, etc., with priority that touches the lives of citizens.”
He pointed out: “Based on the above, the increase in revenues is one of the important financing levers in overcoming the problems that were facing government projects, which are called (slowed), and which have now entered into implementation and completion, in accordance with the approved policy (No more slowed projects).”
He expressed: “Therefore, there is a clear correlation between the capacity to implement urban projects in the country and the growth of public revenue sources (whether oil or non-oil) and harnessing their high financial flows to serve the requirements of economic development in our country in a way that maximizes the gross domestic product and provides high and sustainable employment sources at the same time. The private sector assumes an important responsibility in implementation as it is the effective strategic partner in developing the Iraqi economy and advancing its infrastructure and various production activities.”
Saleh noted that “the state has adopted a policy of providing sovereign guarantees for loans obtained by the private sector to finance an important package of private industrial projects, particularly projects to produce industrial and construction outputs related to the advancement of construction, housing, and infrastructure, with sovereign guarantees for the private sector amounting to 85% of the value of private activity, specifically.” “industrial than it.”
alforatnews.iq
