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Inviting banks to grant work loans to the unemployed

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Inviting banks to grant work loans to the unemployed

13/8/2018 12:00 am

With the aim of contributing to the development process through income-generating projects

Baghdad / Farah Al-Khafaf

After the indicators recorded a marked increase in the consumption of goods and goods by the Iraqi individual, which had a clear impact on inflation rates during the past years, an economist called the banks of the public and private sectors to grant loans and advances to the unemployed youth of non-state employees, On the one hand, and to contribute to the development process on the other hand.

Economist Abdul-Zahra al-Hindawi said: In a statement to the "morning": "The government and private banks, think about the development aspect of the country, as these amounts given in the form of loans to citizens, constitute a very large mass, can be invested in development construction Through the establishment of small projects that generate a permanent income for the individual, can work by a group of unemployed youth, which reduces the levels of unemployment in the community, and provide a specific product for the Iraqi consumer is locally, and dispense with the equivalent of the importer.

Consumption of the Iraqi individual

Al-Hindawi said that "the percentage of consumption of Iraqi individuals after 2003 for goods and goods has increased significantly due to the improvement in the standard of living and the increase in the economic level.

Before 2003, per capita income per capita was between 300 and 500 dollars per year, Which opened the door to importation in a way that opened the appetite of the Iraqi citizen to get a lot of goods, where there was a noticeable increase in the acquisition of electrical appliances, in addition to clothes and shoes, as well as food and non-alcoholic beverages that Was a basic need."

He added that "these ratios have had an impact on inflation rates up to the years 2012 and 2013, but it has recorded a state of stability after these years in consumption, especially in the field of electrical appliances, led to stability rates of inflation, which started from 1 to 2 percent between the month And another."

As for food, consumption rates refer to 58 percent of the needs of the other individual, which Hindawi counted as essential and not consumptive. They differ from one family to another depending on their annual financial income."

The breadth of travel

In the last three or four years, the indicators have seen a large increase in the number of Iraqis traveling abroad, which witnessed a large and clear turnout, including recreation, treatment and study.

The indicators also adopted the record of many countries in attracting Iraqi tourists as a destination, notably Iran, Lebanon and Turkey, Kurdistan".

This has been accompanied by attractive offers offered by government and private banks, according to Hindawi, which began to grant loans and advances for various purposes, most notably the luxury, including travel or buy a car, Mazad of the consumption of the individual through the receipt of a good amount for soft terms.

Income-generating projects

He urged those banks to "have a policy in this regard and contribute to the development process through the financing of projects on the one hand, and through the granting of loans to unemployed youth on the other hand, and works by the Ministry of Labor in the framework of the policy of combating poverty within the national strategy, That the granting of loans on this basis, and the opening of income-generating project, as a result guarantees a permanent resource, as well as being a productive individual in Iraqi society."

He pointed out that "the problem lies in the fact that banks are targeting state employees in granting loans, so the unemployed young man finds it difficult to finance him to open his own project," stressing that the directions to combat unemployment and reduce poverty rates in society Iraqi."

He also called for "revising and activating the Central Bank grant to finance small and medium enterprises to move the development wheel in the country, through facilitating procedures and conditions, to be attractive to projects that move the economy of the country."

The government banks are currently launching the advances of state employees, which range between 5 million and 10 million dinars, through electronic payment tools.

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