Delayed budget puts the Iraqi economy in the circle of danger

Delayed budget puts the Iraqi economy in the circle of danger



By kareem Kahdm 08/25/2014 

Experts warn not be approved and the Ministry of Planning annual plan 

Achieving / Hassan Abu Hail 

 Economists warned of the consequences of a failure to approve the Iraqi budget for the current year and its significant adverse effects that could lead to economic catastrophe of Iraq, and therefore will suffer the economic situation of the recession and the absence of the economic approach, which will impact on the economic reality of Iraq. 

Experts stressed that the delay in approving the budget because of political differences reflected the economic reality of the Iraqi government, which put in an untenable position .. dependents on the new Iraqi Council of Representatives to take it upon himself to matters of the country and overcome the differences and the situation in Iraq sights. 

Off balance 

Economic expert Dr appearance of Mohammed Saleh explains that "the budget stalled affected the economic reality of the Iraqi negatively, where there is a financial deficit repeatedly estimated at 20% annually and that most of the projects stalled, and it must formulate the budget quickly, because the delay in approving cost the government losses of billions as what We learned that a lot, but most of the provinces have gone bankrupt and ceased all projects. " 

 Economy paralyzed 

He adds, "Today we are in front of a large economic predicament of the Iraqi economy make paralyzed economy, and today alas Iraq relies on oil imports, which are estimated at 95% 95% Without relying on industrial and agricultural sectors, private and other, and this certainly needs to be logical processors fast because it made ​​Iraq a country depends on imports of basic economic and oil, in other words, Iraq's economy is one-sided and that 80% of state enterprises rely on this economy. " 

The director of the Iraqi Center for Economics and Development, Dr. Mohammed al-Shammari says "delayed budget is a negative aspect of the Iraqi economy in general, and all projects and business in particular." 

Shammari stressed that "the political crises continued threw Bdilalha on economic reality, and thus the result was falling in big trouble and the case unenviable, which made ​​the development of Iraq's economic situation is difficult, as the crisis intensifies province and the center formed a problem and a major crisis has made ​​the gap bigger and things get complicated, Therefore, became the order approving the budget is very difficult. " 

The absence of economic approach 

And see Shammari "Iraq after the events of 2003 have changed his economic policies toward the worst because its dependence on oil imports, which constitute 95% of Iraq's imports of oil, namely that Iraq today depends on economic policy one (unilateral) and this a serious problem that must be resolved, as The absence of economic approach and lack of interest in industrial and agricultural sectors because they constitute a significant economic resources, these reasons and others of the most important problems and obstacles facing the Iraqi economy. " 

On the possibility of the integration of the budget in 2014 with a budget of 2015 says "can not merge the budget for the current year with the budget in 2015 because of its negative effects, and this fact has warned them all the experts, but I say should formulate a special law for the Iraqi budget, rather than be a budget emergency is prevailing now, and the government speed up their approval in order to be working correctly for all projects. " 

Ministerial plan 

As confirmed by the Ministry of Planning said that the late adoption of the 2014 budget law a negative impact on the progress of implementation of projects, the National Development Plan 2013 2017 

 The plan aims to develop the work force and create a legislative environment and favorable investment works to generate decent jobs, especially for women and young people, in addition to achieving balance is acceptable between operating expenses and investment in the budgets of the Federal, seeking to alleviate the poverty rate down to 16%, while continuing to reduce the disparity Urban among the provinces on the one hand and between urban and rural areas on the other hand . . 

According to Sami when, Undersecretary Head of the Technical Committee for the preparation of the plan, "The proportions of the implementation of projects within the stomach National Development Plan in all sectors were good, but the lack of adoption of the budget up to now clearly trace the continuity in the implementation of those projects."
 
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