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50 million dinars to support small and medium enterprises
Economical 2023/05/04
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The Emad of the Emirate
Specialists in economic affairs praised the government's steps aimed at eradicating poverty, creating job opportunities for the unemployed, and supporting vulnerable and low-income groups, stressing that these trends would increase sustainable development rates and revive the economy in general, stressing the need to intensify efforts aimed at moving the wheel of production in the private sector. Supporting the agricultural and industrial aspects and encouraging the establishment of small and medium industries.
Government positions aimed at reviving the economic reality have expanded remarkably. Days after the Prime Minister issued directives to support the agricultural sector and provide all its needs, the Central Bank renewed "yesterday the first" its position in support of the establishment of small and medium enterprises.
In a statement, a copy of which “Al-Sabah” obtained, the bank affirmed that it will continue to finance small and medium enterprises within the initiative of (4) trillion dinars, according to the remaining allocation, with an amount not exceeding (50) million dinars for each loan, and for a maximum period of (5) years, provided that interest and commissions are approved. And the rest of the procedures are the same according to the unified controls of this initiative.
The statement indicated that this step comes "in continuation of the developmental role of the Iraqi Central Bank and its contribution to promoting economic growth, and achieving the objectives of various monetary policy, especially the stability of the general level of prices."
In order to support government efforts, specialists in economic affairs believe, during their interviews with Al-Sabah, that "tackling unemployment requires setting a number of solutions and procedures, including restructuring the labor market in order to accommodate the increase in the national workforce, by adopting various programs concerned with training the unemployed and reinstating them." Rehabilitate them and encourage young people to work in the productive and service sectors by developing technical skills and rebuilding the economic sectors and infrastructure.
The academic specialist in economic affairs, Dr. Thaer Al-Ani, told Al-Sabah: “Creating and providing a suitable climate for foreign and local investment is a factor that can double employment opportunities, especially in the case of focusing on major investments that need more labor and are able to absorb part of the investment.” Lots of unemployed.
For his part, the academic and economic researcher, Abd al-Karim al-Issawi, explained to "Al-Sabah" that the means to address unemployment in the country, especially graduates, lie by encouraging young people to work in the productive and service sectors, and through the development of technical skills, as well as the expansion of industries in populated areas. The large number of workers to install the workforce in their original areas.
The researcher, Al-Issawi, warned of the continued migration of labor force from poor governorates towards economically active cities, pointing out that this step could greatly double the poverty rates in those governorates. It can contribute to creating job opportunities for young people in the long term, as the tourism sector has many front and back links with other economic sectors such as airports, hotels and restaurants.
Al-Issawi believes that the main factor in reducing unemployment lies in giving the private sector real opportunities to work and participate in all economic decisions, and to equate it with the public sector in all fields of production and services, provided that the private sector guarantees labor rights from retirement and compensation for psychological and physical harm.
The speaker believes that it is important for the government to move towards supporting productive projects in the countryside by granting loans to workers in animal production, especially women and recent graduates, noting at the same time that among the important things that can help reduce unemployment is the provision of facilities. Legal and financial to encourage the work of multinational companies to open full or partial productive branches in Iraq.
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