Minister of Planning: The Iraqi government has developed an economic vision on borrowing policy
Economy News – Baghdad
Deputy Prime Minister and Minister of Planning, Mohammed Ali Tamim, confirmed on Saturday that the Iraqi government has developed an economic vision on borrowing policy.
This came during the speech he delivered during his sponsorship of the celebration of the Central Bank of Iraq, launching the National Strategy for Banking Lending in Iraq, for the period 2024-2029.
The minister congratulated the Central Bank “the launch of this strategy, which was prepared in cooperation with the German Development Agency,” noting that it “is consistent with the directions of the government, and coincides with the completion of the preparation of the five-year development plan for the same period of time, and the legalization of loans.”
He added, “The lending strategy can contribute to increasing credit granted to the private sector by 4% of non-oil GDP, and pay special attention to small, micro and medium enterprises by increasing the credit granted to them by 3% of non-oil GDP.”
“This trend would contribute to financing more projects, giving the private sector a good space to be a real partner in achieving development goals, as well as moving forward to achieve a state of economic diversification, and thus reduce dependence on oil,” the Minister of Planning stressed.
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