The advisory body is studying the investment of high oil prices and addressing the effects of the dollar exchange
2021-06-21 | 13:42
Today, Monday, the Council of Advisers in the Presidency of the Council of Ministers revealed two directions through which it works to support and advance the private sector, and while it identified two options for investing in high oil prices, it revealed a joint study to address the effects of changing the dollar exchange rate.
On the sidelines of the e-learning assessment workshop held by the advisory board of the official agency, the head of the authority, Abdul Karim Al-Faisal, said that “the authority, under the guidance of the Prime Minister, Mustafa Al-Kazemi, worked to find ways to support and advance the private sector,” noting that “the president of Ministers see that there is no economy in any country without a strong private sector.
Al-Faisal added, "The authority worked in two directions to support the private sector,
the first is to simplify the procedures for obtaining licenses, exemptions, and others, and
the second most important is to provide loans to industrialists and private sector men in various commercial, service and health sectors, the repayment of which is long-term and with very low interest rates, at the initiative of the Central Bank and through a committee It is headed by the Secretary General of the Council of Ministers, with the interest of the Council of Ministers and the President of the Council in supporting the private sector.
He continued, "We also worked on decisions to own industrial lands for owners of industrial projects who had taken an industrial license or operated it for five years, and it is now under implementation," stressing that
"these decisions give great support to the Iraqi product, and therefore the commission was proactive in preparing and taking them."
He pointed out that "the commission, under the guidance of the prime minister, had a role in preparing seminars to hear the problems of the private sector and the problems that are encountered in the investment sector, and they were submitted to the prime minister, and decisions were taken on them."
Regarding the rise in oil prices, Al-Faisal explained that "there is a budget deficit of 29 trillion dinars, and it is possible to bridge the deficit through high oil prices."
He pointed out that "the government is likely to go towards preparing a supplementary budget to address sectors that have not been allocated sufficient funds, such as the health sector and support for farmers and peasants through a committee chaired by Ali Allawi, Minister of Finance, who is an expert in this."
Regarding changing the exchange rate of the dollar, Al-Faisal stressed that "there is a study conducted by the Central Bank with the Ministry of Planning and economic experts, to address the effects of changing the exchange rate process in order to reduce its effects or activate the positive aspects of the decision."