Economist: all reform initiatives failed financial situation

by **Rocky** Sun 08 May 2016, 5:02 am

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Economist: all reform initiatives failed financial situation

by Rocky Sun 08 May 2016, 5:02 am

Economist: all reform initiatives failed financial situation

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Economic expert Abdul-Sattar al-Bayati said that all the initiatives launched by the government to reform the financial situation, whether on the level of agricultural or industrial or tourism have failed and did not check any treatments to the current crisis.
Al-Bayati said in an interview to Sama Baghdad, said that despite some calls but citizens did not touch the real economic reform so far, noting that the proposed initiatives did not lead to processors of the situation worsening, which included the various sectors of agricultural, industrial and tourism and most of them have failed did not achieve success by 1%.
He added that treatments that have been developed out of the crisis and the problems of the country were not real or objective remained dependence on the oil sector, without any diversify the sources of revenue, which explains the financial crisis that has plagued Iraq.
The Iraqi government has launched and conditions of banks sectoral disbursement of loans, while the industrial and agricultural banks got 33% each of the total amount of the loan mechanisms.
The Commission on the Status special program of central bank loans mechanisms and head of the Iraqi Business Council member David Abdul Zayer "The Prime Minister's Office has announced that the mechanisms in place in private banks sectoral loan disbursement according to the allotted Iraqi Central Bank's program of five trillion dinars, which has identified the mechanisms annual interest rate of 2 % fixed repayment period of five years which can be extended as needed. " "The mechanisms ratified by the crisis cell in the Office of the Prime Minister distributed amounts between sectoral banks, where he received the industrial and agricultural two banks accounted for 33% of the total loan either the Land Bank and the Housing Fund have each won 17% of the total loan amount."

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