28/9/2017 12:00 am
Mohamed Sharif Abu maysam
Local markets are still affected by deflation caused by cash shortages due to shortfalls in investment allocations, despite what is said about the money the Central Bank underrated jiggle, about 70 percent of the Exchange.
This contraction devoted and seemingly inherited situation unfolding in the real sectors and in particular the industrial sector still groaning of commodity dumping situation despite the implementation of the law on customs tariff, which in turn contributed to dedicate a recession as a result of higher prices of some commodities and the absence of alternative Still, local small and medium-sized enterprises in this sector are disabled and not able to contribute in the ratio of commodity supply that meets the needs of the market.
As well as the delay in the implementation of the Central Bank's initiative concerning the financing of sectoral projects (arm-industrial-TTC) despite the imposition of mechanisms simplifying procedures on specialized banks and the adoption of the electronic form in applying for loans, and the other on increasing revenue and fees Service institutions that transform its role in limiting the promotion and follow transactions gives a clear idea of the observer of the urgent need to complete the market and regulate its relations as provided for in the laws that regulate market relations and in particular laws (antitrust and competition, consumer protection, product protection Local business law. And others).
Can the market to organize and resist fluctuations unless organized market relations, because the latter regularity will put an end to the emergency and market behaviours of unregistered activities, as well as reducing graft means first and foremost monopoly and the dollar rate on the parallel market.
The parallel market currency auction market in Central Bank behind the price fluctuations of commodities and services, needs more regulation and failed all attempts by the relevant authorities and instructions from the control for legal and operational reasons mentioned.
And may say: that the nature of market economy system based on floating currencies as trading exchange units in which the State does not interfere with the market and are not supported, and rightfully so with that ignores the real role of the State in a market economy, liberalisation without legal and procedural lineup complete Regulate market elements serve as the first economic suicide victims poor before the big macroeconomic structure damage for owners of money and speculation, as well as causing the escalation in the shadow economy in which it operates all unregistered economic actors in addition to non-profits Project.
Thus the market will remain soft and subject to propaganda and hearsay and employ the variables and events in favor of capitalists who dominate the paths of movement unless the laws that have been created.