May 27, 2011
CBI confirms the importance of exploiting the government loans for development
Baghdad, The Central Bank of Iraq adviser said Friday that the government loans granted to staff in the public sector should be exploited for economic development purposes and not for consumer purposes.
He said the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "government loans granted by the Ministry of Finance to the staff of a number of ministries should be exploited for purposes of economic development to evaluate the Iraqi economy and elevate it to integrate into the global market, and not for projects consumer."
He added that "the granting of loans by the government contribute to reducing the economic gap and address the part of the phenomenon of inflation is still relatively high."
Salih pointed out that "the economic situation in Iraq need to activate the role of the real by government institutions for the development and implementation of housing projects on account of development projects and not a consumer."
He stressed the importance of "non-payment of loans to purchase goods, cars and consumer goods, because that would flood the market with goods without study and do not raise the capacity development of the economy of the country."
The Ministry of Finance of Iraq had previously instructed the bank to Mesopotamia and the good start of the granting of advances to government officials to purchase residential homes.
According to the Iraqi government, the economic development in the country is heading towards a continuous rise from year to year, which indicates that Iraq follow the policy of financial and monetary mature, she said.
The figures showed that unemployment rate fell from 52% to 15% and the level of the poverty line from 54% to 23% and inflation declined overall level of 65% to 6%, and increased production of electrical energy from 3 thousand and 500 MW to 8 thousand megawatts.
The government has launched last July the National Development Plan for the next five years, from 2010 to 2014, which is expected to include nearly 2700 projects in various sectors, worth up to $186 billion.
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CBI confirms the importance of exploiting the government loans for development
Baghdad, The Central Bank of Iraq adviser said Friday that the government loans granted to staff in the public sector should be exploited for economic development purposes and not for consumer purposes.
He said the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "government loans granted by the Ministry of Finance to the staff of a number of ministries should be exploited for purposes of economic development to evaluate the Iraqi economy and elevate it to integrate into the global market, and not for projects consumer."
He added that "the granting of loans by the government contribute to reducing the economic gap and address the part of the phenomenon of inflation is still relatively high."
Salih pointed out that "the economic situation in Iraq need to activate the role of the real by government institutions for the development and implementation of housing projects on account of development projects and not a consumer."
He stressed the importance of "non-payment of loans to purchase goods, cars and consumer goods, because that would flood the market with goods without study and do not raise the capacity development of the economy of the country."
The Ministry of Finance of Iraq had previously instructed the bank to Mesopotamia and the good start of the granting of advances to government officials to purchase residential homes.
According to the Iraqi government, the economic development in the country is heading towards a continuous rise from year to year, which indicates that Iraq follow the policy of financial and monetary mature, she said.
The figures showed that unemployment rate fell from 52% to 15% and the level of the poverty line from 54% to 23% and inflation declined overall level of 65% to 6%, and increased production of electrical energy from 3 thousand and 500 MW to 8 thousand megawatts.
The government has launched last July the National Development Plan for the next five years, from 2010 to 2014, which is expected to include nearly 2700 projects in various sectors, worth up to $186 billion.
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