In a roundtable discussion, experts have called upon the new government to take decisive actions to guide the country towards stability and growth.
The focal points of concern highlighted by the experts included the safety of capital, default loans, and capital flights, emphasizing the need for a robust legal framework.
The overarching sentiment was that establishing a stable environment for businesses and individuals is imperative for economic growth.
To foster an investor-friendly atmosphere, the new government must prioritize addressing concerns related to the safety of capital and offer incentives to attract foreign investors.
Meaningful consultations with a diverse range of stakeholders, including small and medium enterprises, are essential to restore confidence and encourage a broad spectrum of investments.
Controlling inflation, by raising interest rates and considering a floating exchange rate, is identified as a viable strategy to curb the escalating inflation and maintain the purchasing power of the currency.
Recognizing the critical role of the banking sector, the experts stressed the necessity of a dedicated task force to address issues and loopholes in both the banking sector and the taxation system.
Identifying and rectifying challenges affecting both borrowers and lenders is crucial to rebuilding trust in the banking system.
The importance of inclusive dialogue was emphasized, urging the government to ensure that consultations involve representatives from various sectors, with a specific focus on small and medium enterprises.
Improving the ease of doing business is deemed essential, urging the government to expedite processes, simplify bureaucratic procedures, reduce red tape, and consider tariff rationalization to enhance competitiveness.
Addressing threats to food and energy security is another critical aspect, with experts urging the government to obtain accurate data on exports and imports and implement policies that safeguard the country’s essential needs.
Finally, the experts emphasized the need for political will to resolve the identified challenges, citing examples such as mergers and acquisitions in the banking sector and improvements in the logistic areas.
The current moment is deemed critical, and the experts stress the need for the government to act decisively and collaboratively with all stakeholders.
While acknowledging the pressing challenges, the experts express optimism that with concerted efforts and a commitment to reform, the nation can pave the way for sustained economic stability and growth.