How can we secure national capital in dollars to increase the number of factories exclusively while reducing the bill for luxury imports?
How can we secure national capital in dollars to increase the number of factories exclusively while reducing the import bill for luxury goods?
Anyone who wants to import unproductive luxury goods must place a four-month interest-free dollar deposit at the Central Bank, equal to the value of the import bill.
A special fund will be established for these deposits, enjoying absolute financial independence. Under no circumstances will any use of this fund's funds be made except for the purpose of lending to industrialists to establish new factories with a mortgage.
The loan currency and installments will be in dollars, with an annual interest rate of only 9%. This will support the fund and expand the possibility of increasing the number of borrowers from industrialists in the future. This will include:
1. A decline in the quantity of luxury imports and an increase in their prices. 2. An increase in exportable production that replaces imports. 3. A decline in unemployment and an inevitable decline in the dollar exchange rate.
4. An increase in the number of commercial, industrial, agricultural, and tourism projects with funds previously allocated to operate luxury imports.
Economic expert George Khazam
