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[size=36]A former deputy talks about (two problems) that will face the budget and issues a warning[/size]
political| 10:43 - 06/02/2023
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Baghdad - Mawazine News
The rapporteur of the Parliamentary Finance Committee in the former parliament, Ahmed Al-Saffar, suggested, on Monday, that the budget would be delayed even if it was sent by the Council of Ministers to the House of Representatives, "because it needs a period of time due to its problems."
Al-Saffar explained in an interview with the official newspaper, that "according to the information, the Prime Minister, Muhammad Shia' al-Sudani - as a good first step - made a simple restructuring of the budget in line with his government approach, especially with regard to finding solutions to address poverty, unemployment, inflation, and others."
He noted that "the problem that will face the budget (the price of a barrel of oil) on which the budget is prepared and built, and in light of the fluctuation of oil prices between high and low, the legislator faces a problem on which price the budget will be based on, in addition to the problem of the exchange rate of the dollar, and this is a big problem, especially There is talk that the government will change the exchange rate approved in the budget.
Al-Saffar warned that "if the budget is approved and the process of pumping money into the market through public expenditures takes place while maintaining the same ineffective procedures, this will amplify and exacerbate the problem of the exchange rate, given that an increase in the amount of cash in circulation leads to greater demand." on the dollar, which in turn leads to further increases if the necessary measures are not taken by supplying the dollar.
Regarding the recent measures taken by the Central Bank after the special meeting with the US Treasury Vice President in Istanbul, Al-Saffar saw it as a "good" preliminary package of measures, calling for "appending it to a package of firm and swift measures," and also called for "focusing on the issue of smuggling, in addition to To the government's intervention in monitoring the market and the government's entry as a bidder and seller of commodities, especially basic commodities, at cost price. Ended 29/N33
The rapporteur of the Parliamentary Finance Committee in the former parliament, Ahmed Al-Saffar, suggested, on Monday, that the budget would be delayed even if it was sent by the Council of Ministers to the House of Representatives, "because it needs a period of time due to its problems."
Al-Saffar explained in an interview with the official newspaper, that "according to the information, the Prime Minister, Muhammad Shia' al-Sudani - as a good first step - made a simple restructuring of the budget in line with his government approach, especially with regard to finding solutions to address poverty, unemployment, inflation, and others."
He noted that "the problem that will face the budget (the price of a barrel of oil) on which the budget is prepared and built, and in light of the fluctuation of oil prices between high and low, the legislator faces a problem on which price the budget will be based on, in addition to the problem of the exchange rate of the dollar, and this is a big problem, especially There is talk that the government will change the exchange rate approved in the budget.
Al-Saffar warned that "if the budget is approved and the process of pumping money into the market through public expenditures takes place while maintaining the same ineffective procedures, this will amplify and exacerbate the problem of the exchange rate, given that an increase in the amount of cash in circulation leads to greater demand." on the dollar, which in turn leads to further increases if the necessary measures are not taken by supplying the dollar.
Regarding the recent measures taken by the Central Bank after the special meeting with the US Treasury Vice President in Istanbul, Al-Saffar saw it as a "good" preliminary package of measures, calling for "appending it to a package of firm and swift measures," and also called for "focusing on the issue of smuggling, in addition to To the government's intervention in monitoring the market and the government's entry as a bidder and seller of commodities, especially basic commodities, at cost price. Ended 29/N33
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