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Economists warn of the delay in approving the budget
The first 2023/04/25
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Shaima Rashid
Economists have warned that the delay in approving the budget until now will greatly affect the completion or start of the projects announced by the government, especially since the year is approaching halfway through now, noting that everyone is waiting for Parliament’s opinion on the three-year budget and how it will be monitored in the event It was approved with changes in oil prices.
Economic expert Mahmoud Dagher stated that "the government will not be able to implement the investment part with the remainder of the time of this year, which has now passed 4 months without approving the budget."
Dagher said to "Al-Sabah": "The plan and the investment platform in the budget is within the limits of (50 trillion dinars), and therefore it is difficult to negotiate with contractors in light of the lack of approval of the budget, and sometimes there are foreign companies that the government needs to contract with, so if we want to implement projects Correctly, the remaining period of this year is insufficient, and it is difficult for the government to be able to complete it within six months, accompanied by low productivity in state institutions and the financial and administrative corruption that is eating away at them.
He added that "the investment part can be completed in subsequent years only, and that will be implemented is the amount of revenues and dues of oil companies," noting that "any effort or intentions, if not accompanied by proper planning and construction, cannot be implemented and remain incomplete dreams."
Dagher explained, "The entire budget was built on exaggerations, except for the salaries. All eyes are on whether Parliament will agree to approve a budget for three years," wondering, "If the budget is approved, how will it be followed up and monitored?"
In addition, the economist Hazem Hadi saw that the remaining period of the year to complete the projects is a very short period,” noting that “only half of the year remains, and there has been no ratification of the budget law so far.”
Hadi told Al-Sabah: “The projects that the government undertakes to implement or that are lagging may not be able to implement them, and the government is required at the present time to provide the necessary supplies for the advancement and completion of these projects,” noting that “it is unreasonable that 4 months of the year go by without approval.” on an important bill such as the budget, and this is considered a delay on the part of the financial planner and the legislator at the same time.
He added, "The allocations in the budget are very large, and the deficit is also very large. In any case, spending on the budget will not exceed 90%, and investment spending will not exceed, at best, 30-40% of the budget."
In addition, a member of the Parliamentary Finance Committee, Jamal Cougar, said: “The committee will use its full powers regarding the budget, by making reductions, transfers, amending paragraphs and adding paragraphs,” suggesting that “the budget will be passed without disagreement.”
In turn, the representative of the Kurdistan Democratic Party, Mahma Khalil, said: "Among the disputes over the budget is the existence of a large deficit in its law, and the government must work to reduce it or clarify a mechanism to bridge this deficit," noting that "the price of oil that was calculated in the budget is also the subject of A dispute between deputies who believe that this price is too high and should be reduced or it should be at a balanced price.
Edited by: Muhammad Al-Ansari
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