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Central" Iraqi receives a proposal to save the 154 government-owned company''

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therealbubbie

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Announced adviser to Iraqi Prime Minister for Financial Affairs, the appearance of Mohammed Saleh, he made ​​a proposal to the Central Bank to allocate part of its lending, worth about 6 trillion dinars, to give him to the 154 state-owned company and need financial support to convert them from losing companies to the winner.
He said The proposal includes the provision of financial support and the reimbursement of these companies and deal with them as a beneficiary of the loan, regardless of its revenues and ownership, whether public company or mixed.
He said in favor of this proposal is a step to revitalize the Iraqi economy and development of the productive sectors in the areas of agriculture, industry, housing and services, and that the most-owned companies the state has become a burden on them, since there are 22 profitable company and the rest is lost, with well-known assets, and employs about half a million people.
He said that lending to the "central" program, both small and medium-sized enterprises or to support the industry, agriculture, housing and services sectors, the nucleus for the establishment of a permanent fund for development or Development Bank of the contribution of international organizations in the future.
He pointed out that the money pumped into the Iraqi bank in the market will contribute much to break the tight liquidity and stimulate the Iraqi economy, which is equivalent to about 16% of the money supply, and this means that the monetary policy of the country's orientation is witnessing a shift in conditions National Economy who lives recession.
In regard to the importance of an information base for borrowers under this program building, Saleh stressed that there should be a common database linked to the "central bank" of Iraq; to prevent tampering and used for the prevention, audit and accounting both borrow and realize the project, which took the loan on the basis of, stressing that the goal of ensuring the efficiency of the data base high in the achievement of the program and to prevent the funds go to speculators rather than real producers.





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