Will the state adopt the provision of sovereign guarantees to finance civil industrial projects?
The financial and economic adviser to Prime Minister Mazhar Mohammed Saleh explained on Friday that the state has adopted a policy of providing sovereign guarantees for loans obtained by the private sector to finance an important package of private industrial projects.
Saleh told {Euphrates News}: “There is a fundamental association in financing and implementation adopted by the government curriculum and public policy in development, the basics of which are summarized by the high implementation of the listed and continuous government investment projects, which faced the launde and suspension for many years.”
He added, “The current investment curriculum is based on completing the implementation of investment projects without stop and in accordance with the financial resources allocated to them included in the Federal General Budget Law, with keenness to sustain the necessary sources of financing for the continuation of implementation, especially in the field of high-service infrastructure, such as projects to develop electric power, drinking water, roads, sewage and others, and priority that touches the lives of citizens.”
He pointed out: “Based on the above, the increase and high revenues is one of the important financing levers in overcoming the problems that government projects were facing, which are called (lagging), which have now entered into force and completement, and according to an approved policy (not for lagging projects after today).”
He expressed: “This is an explicit correlation between the capacity of implementing urban projects in the country and the increase in sources of public revenues (both oil and non-oil) and harnessing their high financial flows to serve the requirements of economic development in our country and in a way that maximizes the GDP and provides high and sustainable sources of employment at the same time. The private sector has an important responsibility in implementation as an active strategic partner in the development of the Iraqi economy, the advancement of its infrastructure and various production activities.”
Saleh noted that “the state has adopted a policy of providing sovereign guarantees for loans obtained by the private sector to finance an important package of civil industrial projects, foremost of which is projects to produce industrial and construction outputs related to the advancement of reconstruction, housing and infrastructure and sovereign guarantees for the private sector amounting to 85% of the value of private activity, specifically industrial from it.”
Who.. Raghid
No comments:
Post a Comment