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[size=38]Because Of The Invalidity Of The Exchange .. The Iraqi Government Warns Of A "Financial Blockade"
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LAST UPDATE 08/14/2022 | 9:56 AM
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LAST UPDATE 08/14/2022 | 9:56 AM
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The Information/Baghdad..
Adviser to the Prime Minister, Mazhar Muhammad Salih, warned, on Sunday, of what he described as a “financial blockade” due to the public finance problem, while indicating that there are fears of entering 2023 without a budget.
Saleh said in a statement reported by the official "Al-Sabah" newspaper, which was seen by "The Information", that "one of the most serious concerns that is currently being raised is the problem of public finance, which may enter into a financial impasse or siege," noting that "there is no power to exchange at all, as the Financial Management Law Effective No. 6 of the amended 2019 allows it, in the absence of the budget law in the subsequent year, to spend at a rate of 1/12 of the actual expenditures made in the previous year’s budget.”
He added, "The fears are entering 2023 without a budget, so what is the exchange rule in this case with the absence of the 1/12 rule? .. The Emergency Food Security Law No. 2 of 2022 expires at the end of this year."
Saleh explained: “The public finances will fall into a dilemma, unless the prime ministers and the republic resort to the Federal Court to obtain a decision that allows them to continue spending according to 1/12 in 2023 until the legislative arrangements are completed to issue and accept the 2023 budget, even if it is a caretaker government.” finished/25
Adviser to the Prime Minister, Mazhar Muhammad Salih, warned, on Sunday, of what he described as a “financial blockade” due to the public finance problem, while indicating that there are fears of entering 2023 without a budget.
Saleh said in a statement reported by the official "Al-Sabah" newspaper, which was seen by "The Information", that "one of the most serious concerns that is currently being raised is the problem of public finance, which may enter into a financial impasse or siege," noting that "there is no power to exchange at all, as the Financial Management Law Effective No. 6 of the amended 2019 allows it, in the absence of the budget law in the subsequent year, to spend at a rate of 1/12 of the actual expenditures made in the previous year’s budget.”
He added, "The fears are entering 2023 without a budget, so what is the exchange rule in this case with the absence of the 1/12 rule? .. The Emergency Food Security Law No. 2 of 2022 expires at the end of this year."
Saleh explained: “The public finances will fall into a dilemma, unless the prime ministers and the republic resort to the Federal Court to obtain a decision that allows them to continue spending according to 1/12 in 2023 until the legislative arrangements are completed to issue and accept the 2023 budget, even if it is a caretaker government.” finished/25
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