Al-Kazemi’s advisor identifies ways and methods to absorb unemployment levels
Sweetened Today, 21:41
Baghdad - INA - Nassar Al-Hajj
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified, today, Tuesday,
ways to absorb unemployment in the country, while indicating that the private sector needs soft investment financing. Saleh said, to the Iraqi News Agency (INA), that
"the private sector in Iraq is in dire need of soft investment financing in order to achieve the country's goals in revitalizing the role of the private sector by
real diversifying the sources of GDP and
approaching the strategic goals to raise the percentage of the private sector's contribution to the gross domestic product."
The country will increase from 37% to 50% over the next ten years.
He pointed out in a talk about ways and methods to absorb unemployment, that
"the coherence between the effective investment law and the privileges granted to investors on the one hand and the encouragement of small and medium-sized enterprises for the private sector on the other hand needs a soft government financing association,
which requires the activation of a civil development bank or a development fund that facilitates loans directed to activities investment in the private sector within a financing plan for the next ten years. Saleh explained,
"The activity of the small and medium sector is responsible for absorbing more than half of the currently prevailing levels of unemployment in the country in the event of interest in it, and
in accordance with a targeted economic and financing policy that supports the civil economy." He stated,
"The monetary policy initiative of the Central Bank of Iraq for years to support civil production and investment activities requires at the same time an initiative undertaken by the fiscal policy in this regard
to achieve the sustainability of markets active in production, investment, development and diversification of the areas of the national economy."