Expert: extend the loan ceiling enhances the productivity of the Iraqi economy

Expert: extend the loan ceiling enhances the productivity of the Iraqi economy
 

 


May 31, 2014 17:21  Expert: extend the loan ceiling enhances the productivity of the Iraqi economyIraq needs to take measures to promote productive is actually an increase of granting soft loans to agricultural and industrial and exempted from interest and extend the roof repaid within the curriculum initiatives. 
In this regard, calls for economic expert, Dr. Hilal Taan to continue to give them interest-free during this period and to a certain stage least for a period of five years to come, especially as the two sectors urgently need to grant these loans while achieving a strong economy does not depend on oil and eliminates unemployment and reclaim agricultural land through agriculture and promote the national industry to stand on its own feet. 
He Taan in an interview for the "morning" that Iraq needs to activate the private Alantegean industrial and agricultural to achieve food security, Iraqi and reduce imports from abroad, and therefore is considered as a kind of fiscal policy is to grant soft loans without interest to encourage industrial production and reduce imports and encourage agriculture and prevent the import of crops and products agricultural from abroad, especially the daily foreign currency leakage from the country and abroad in large quantities because of the imports. 
He called for the need to focus on these sectors Alantegean because the dependence on oil as a resource and one is an imbalance in the Iraqi economy, particularly that all the countries of the world and in their fiscal policies are encouraging the agricultural and industrial sectors to contribute to the gross domestic product, without relying on a single supplier, which contributes to the operation of the largest number of manpower to eliminate or alleviate unemployment. 
And urges Taan to exempt all loans from interest rates and deductions, including loans Housing Fund, especially that Iraq is suffering from a crisis in housing, a need for approximately 3 million housing units, especially that there are approximately 60 000 units are destroyed by floods and abnormal conditions of the mind inadequate housing, so it is necessary to grant loans in the housing sector without benefits or the benefits of a very few, so as not to burden the citizen to be able to provide housing units to keep his family and achieve family stability and functional at the same time, he says. 
For his part, saw the banking advisor Dr. Essam Mahouelle that industrial loans of more powerful agricultural loans, despite the importance of the latter in the provision of crops and agricultural products in local markets. 
He Mahouelle told (morning) that industrial loans are often medium-term and for a period of five years in order to give the opportunity to the borrower to secure the equipment, machinery, and construction of the plant and all these things take time. He explained that the reason for making the loan to the extent industrial average came to give the opportunity to achieve revenue despite the presence of strong competition from goods imported and displayed in the local markets. 
He stressed the importance of industrial loans in the establishment of projects and workshops productivity because they contribute to the operation of labor absorption and reduce unemployment, calling for the extension of the period of recovery of agricultural loans and make a medium-term view of the conditions experienced by the country and the need to devote activating the productive sectors. 
He pointed out that Mahouelle the bank a leading role in the industrial development of the industrial reality of the country for being granted loans of capital unlike other government banks that grant loans or through investment funds run by the deposits and loans of different ancestors. 
And agricultural loans confirmed Mahouelle serve as the initiative adopted by the government for years to provide the Iraqi crops and reduce the import of what can be grown in the country of them. 
And hinted that agricultural loans can be considered as loans "Mjazfatyh" because agricultural production is seasonal and subject to the vagaries of the weather Kalamtar, wind and others, and however, saying only that it ultimately serves the economic reality of the country as long as there is a run of the hands of the working offset fill the market need of a particular product. 
He stressed that Iraq is a country and a promising investment opportunities where it can be put agricultural areas of land for foreign investment to grow the crops were not grown in the country, strawberries and mango and other crops and fruits as the land of Iraq is fertile and arable and does not need a lot of reclamation, as in other countries

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