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Government bond market ensures discreet execution

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Government bond market ensures discreet execution

15/6/2016 12:00 am
Baghdad – Hussein thghb

Iraqi National Business Council President cautioned Dawood Abd ROAR to the importance of establishing a market for government bonds like Iraq market for securities trading under these bonds are an economic necessity.

Added in the interview for «morning» to create a market for government bonds needs a real transformation of the open market economy, pointing to the importance that there be a payment mechanism for planning for the next two years.

High transparency

He noted that the country is in dire need of such a market which must feature high transparent dealings with revenue and payment operations describes plans that accompanies this side, stressing that creating a market in that category do trust between private sector and Government, particularly the private sector benefits to be paid in the form of government bonds and that is a guarantee by the Government to private sector efforts and ensures discreet execution.

David pointed out that private sector projects continued sober during the past period and spent much to project delivery and carry the weight of spending on projects under the financial distress experienced by Iraq, noting that bad companies out of work and she couldn't keep up and work under the current circumstances.

7 trillion dinars

He disclosed that the private sector benefits from the Government estimated 7 trillion dinars, and the Government's interest in these receivables is a step in the right direction which keeps the real private sector capable of implementing projects in the country, because he has the operational capabilities of the technology and specialized manpower left.

And David the strengthening investment and internal revenue through economically feasible plans for customs and tax revenues and investment communications, atmosphere and water as well as real estate, hotels, explaining that these sectors can provide large amounts of money for the federal public budget and reduce financial shocks that hit the global and local economies, particularly Iraqi fiscal revenue depend substantially on the world oil market.

International loan

International loans and said that international loan value of $18 billion over six years on terms and watching each installment where hired in the health and education sectors, where it passes the first installment and then other installment and so, pointing to the importance of supporting the poor and that there should be a binding insurance for the poor, as done in the world and can employ a percentage of the loan to upgrade health services to citizens.

He urged the international loan should be in the joints to be economically productive and does segments unable to activate it through the years, where they could promote industrial production which is the centerpiece of the national economy and the most important step to achieving sustainable development, and the education sector is an important detail in measuring the evolution of society and has the ability to lift the fortunes of the country by creating an educated competencies capable of mastery of sophisticated technology needed by Iraq in all service sectors and productivity.

He drew the ROAR that loan terms established by international lenders chime and the private sector demands in many joints, especially if the parties are focusing on economic development should be given priority in hiring.

It was the ROAR had drawn earlier in an interview that the Board before him the task of promoting the private sector by communicating with government agencies and discuss the mechanisms activated by providing an appropriate environment for the advancement of the field of production and services located its mission, stressing that the private sector requirements diagnosed committees and how you can do and any laws that intersect with each other and confuse the course of action.

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