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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The Iraqi state budget for the year 2023, criticism and analysis

    Rocky
    Rocky
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    • Post n°1

    The Iraqi state budget for the year 2023, criticism and analysis Empty The Iraqi state budget for the year 2023, criticism and analysis

    Post by Rocky Mon 22 May 2023, 7:30 am

    [size=38]The Iraqi state budget for the year 2023, criticism and analysis[/size]


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    May 22, 2023[You must be registered and logged in to see this link.]
    Baghdad / Obelisk event:
    Violation of the constitution and violation of the law
    Hussein Al-Asadi
    The state's general budget is a financial document that determines the government's revenues and expenditures over a specific period of time, usually one year. The budget is considered an important tool for managing public financial resources and achieving balance between government revenues and expenditures. Government revenues are almost equal or higher than its expenditures. This aims to avoid debt accumulation and ensure the sustainability of the state’s financial system and the principle of transparency. The budget must be transparent and understandable to citizens and their representatives in Parliament. Financial information should also be presented in a clear and understandable manner so that everyone can understand how the government uses resources. Finance and the principle of effectiveness and efficiency that the government budget is done in a way that enhances the effectiveness and efficiency in the use of financial resources, so the desired goals of the government must be achieved with the least possible amount of expenditures, as well as the principle of diversification and economic direction, so it is used in budgets to direct activityEconomic and support vital sectors, so spending is allocated according to the government's priorities, the needs of the national economy, and the principle of fair distribution. It aims to achieve social balance and distribute wealth fairly, so financial resources are allocated to meet the needs of society, improve public services, and provide equal opportunities for all, regardless of their economic or social backgrounds. The principle is to reduce economic and social gaps between the different classes in society and to promote social justice, and through the fair distribution of financial resources, it is possible to improve public services such as education, health, transportation and housing, so that resources are directed towards the regions and groups most in need, which contributes to achieving balance and sustainable development, The principle of equitable distribution is an important basis in building public budgets, where the requirements of society are considered and a balance is achieved between the urgent needs and the economic and social aspirations of society in general, and in this episode we will talk aboutThe constitutional and legal aspect of the 2023 budget, as Article (62) of the permanent Iraqi constitution stipulates (the Council of Ministers shall submit the draft general budget and final account law to the House of Representatives for approval) and the Federal Financial Management Law No. (6) of 2019 as amended in Article (1) Third: ( State final account (federal financial statements):A list of the state's financial position (assets and liabilities) as it is on December 31 of each year, and the result measurement account that includes revenues, expenses and other statements for the year ending therein). Sending the budget without the final accounts is an explicit constitutional violation that cannot be bypassed or underestimated. Or federal financial data, it is a financial report that reflects the financial performance of the federal government over a specific period of time. These data are considered of utmost importance to the state and society in general, for the transparency and accountability of the government. The final account acts as an official document that shows details of revenues, expenditures, public debt, and other financial resources of the government, and this contributes to Enhancing the principle of transparency and allowing citizens and their representatives to understand how the government manages and uses financial resources. It also contributes to increasing government accountability to the public, assessing its financial performance, and assessing financial performance. The final account gives a comprehensive picture of financial performance.For the government, this data can be used to evaluate the efficiency and effectiveness of the use of financial resources and achieve the specified financial goals. It is also possible to compare the financial data across the different fiscal years to identify trends and variables in the government’s financial performance, financial planning and decision-making. The federal financial data contributes to the government’s financial planning process, and based on these data The government can set priorities and direct financial resources towards vital sectors and programs. Financial statements also contribute to making wise financial decisions, controlling expenditures, and achieving financial balance to attract investments and credit. Federal financial statements are an important tool for attracting investments and obtaining credit from external parties. The presence of a strong and reliable closing account indicates To the sustainability of the financial system and the government's ability to pay debts and financial obligations, the federal financial statements reflect the state of the national economy and its ability to provide an investment environment.Stable and reliable, as investors analyze this data to assess the financial stability of the government and the economy, and thus contribute to attracting domestic and foreign investments and obtaining credit. Lenders and donors deal with federal financial statements as evidence of the government’s ability to pay off debts and financial obligations based on their evaluation of reliability and financial strength. The government obtains credit from credit agencies and financial institutions on better terms and with lower interest rates. In general, the final account of the state enhances confidence in the economy and the national financial system, and contributes to strengthening the financial balance and stability of the government and the country in general.
    Damage to the country on all economic, social, urban and other levels, and after this clarification of the importance of the final accounts and their being the twin of the general budget, it is not possible to imagine a budget for several years in Iraq, neither the constitution nor the law in force, nor even the economic conditions allow for that. The annual final year, how to build the budget and the previous method of spending is missing, especially since the Federal Financial Management Law No. (6) of 2019 amended in the final provisions of it cut off the way once and for all, as it showed (First: Commitment to budget principles: budget transparency, budget comprehensiveness, budget unity, budget annuality ). the first episode
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