Finance Minister: Loans to Small, Medium-Sized Projects Soon

Lattakia, (ST)- Finance Minister Dr. Ismail Ismail revealed that the project of  granting the operational short and small medium- term loans “will see the light soon,” with finding favorable conditions for taking-off in order to move the wheel of production and create jobs and reduce imports.

The Minister, during a meeting yesterday in Lattakiaexplained that the government is moving toward “the development and encouragement of  the production ” in line with the economic conditions experienced by Syria, which imposes a balance between the capabilities and needs.

Dr. Ismail pointed out that the government is preparing for the reconstruction process from the recovery phase experienced by the national economy and the rotationof production wheel will push in this direction, pointing out that the greatest burden in this stage is the responsibility of the Ministry of Finance with all its institution

The Minister of Finance reviewed the Economic reality during the years of the crisis, stressing that the national economy has begun to rise gradually since the beginning of last year as a result of the confidence return and increased production, pointing out that “the economic indicators and customs revenues during the year 2014 is better than the previous two years.

Dr. Ismail pointed to the procedures taken by the Ministry of Finance in the area of tax reform and the importance of decrees issued in this regard and for the unification of tariffs, tariff reduction and consumer spending, stressing the ministry’s keenness to implement the billing system which is considered a prerequisite “to curb tax evasion.”

The minister also noted the importance of the abolition of specific tax and to replace it with what he called “income tax or public revenue where every citizen has a tax number,” adding that the ministry is working to simplify the process and procedures.

Sharif al -Khatib