Central Bank Of Iraq Strategy: A Strong Boost To The Private Sector And Labor Market
Last updated: June 2, 2024 ndependent/- The Central Bank of Iraq’s bank lending strategy 2024-2029 is an important step towards developing the private sector and stimulating the national labor market.
This strategy aims to increase the credit granted to the private sector and small and medium enterprises, which will contribute to financing new projects in various sectors.
Strategy objectives:
Increasing credit granted to the private sector: The strategy aims to increase credit granted to the private sector by 4% of non-oil GDP by 2029, equivalent to 7 trillion Iraqi dinars.
Supporting small and medium enterprises: The strategy aims to increase the credit granted to small and medium enterprises by 3% of non-oil GDP by 2029, equivalent to 5 trillion Iraqi dinars, which will contribute to financing approximately 100,000 projects.
Improving the business environment: The strategy aims to improve the business environment and attract more local and foreign investors.
Unifying private sector development efforts: The strategy aims to unify private sector development efforts and coordinate them among concerned parties.
The importance of the strategy:
Creating job opportunities: The strategy contributes to creating new job opportunities for Iraqi youth.
Developing the productive and service sectors: The strategy contributes to the development of the productive and service sectors in Iraq.
Stimulating economic growth: The strategy contributes to stimulating economic growth and enhancing financial stability.
Everyone's responsibility:
Financial experts and specialists stress the importance of the combined efforts of all stakeholders for the success of this strategy.
The government, banks, investors, and Iraqi youth must work together to achieve the goals of this strategy and create a better future for Iraq. https://mustaqila.com/ستراتيجية-البنك-المركزي-العراقي-دفعة/
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