Home
Experts: The lack of revenues does not affect budget estimates
Economical 09/21/2023
[You must be registered and logged in to see this image.]
Baghdad: the mainstay of the emirate
Economic affairs specialists reduced the risks of a lack of public revenues, stressing that this matter does not expose the national economy to danger, especially since the budget is estimated and the items of public spending and revenues are actual, pointing at the same time to the possibility of Iraq achieving significant financial gains during the coming periods due to the increase in Global oil prices, which can enhance the country’s public revenues and contribute to closing the budget deficit gap.
Those concerned with economic affairs are counting on the rise in global oil prices to strengthen Iraq’s financial balances, as it is expected that the increase in “black gold” will contribute to adding approximately seven billion dollars per month to the previous official imports obtained from the sale of oil in global markets.
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that improved oil revenues will reduce estimates of the deficit gap and avoid resorting to borrowing, while clarifying the spending priorities in the budget.
Saleh told the Iraqi News Agency (INA): “The accuracy of the timing of disbursement in the general budget according to what was planned reflects the degree of efficiency of the performance of the budget itself in terms of the conformity of the executive path with annual financial planning.”
He added, "With the exception of the current expenditures that must be implemented, such as monthly salaries, support, and external obligations related to debts and other payments, the improvement in oil revenues will reduce estimates of the deficit gap and help overcome the resort to borrowing to fill the deficit, especially in implementing special programs in the operating budget, and investment spending on planned projects." According to its strategic priorities, which are directly linked to raising the degree of growth in the gross domestic product, and in accordance with the implementation schedules and specific timelines without delay.”
Financial expert Dr. Mahmoud Dagher believes that “exposing the budget to a lack of public revenues does not endanger the national economy, especially since the general budget is discretionary but spending and public revenues are actual,” pointing out that there is no problem that the exchange rate could cause and this matter has no impact on the general budget deficit. ".
Dagher explained, “The existence of a tripartite federal budget for three years, with the same ceilings, in an oil-producing country, and with this size of deficit, is something that requires pause, as it may face challenges,” the spokesman said.
For his part, economic expert Adnan Bahia believes that the issue of the tripartite general budget occurs for the first time in Iraq, and it was supposed to issue a three-year development plan to show the upward line of development in the country, pointing out that among the risks that the budget can be affected by are price fluctuations. Global oil prices and these fluctuations are beyond local control, in addition to the lack of accurate reviews of all previous budgets in order to give a clear picture of the Iraqi economy, which trends it is growing in, and what are the economic and investment achievements that can be built upon for the next three years.
Bahiya pointed out that Iraq is now in the early stages of the economic diversification process, the signs of which have not yet fully appeared, pointing out at the same time that the difference between the central bank’s exchange rate and the parallel rate has created clear difficulties in controlling this difference despite the central bank’s numerous measures. To limit the dollar's rise, this situation increased the negative impact on prices.
[You must be registered and logged in to see this link.]
» A deputy reveals the most dangerous files facing the Sudanese government’s program
» Parliamentarian: Amending the election law needs time to pass
» The work of the committees will bring nothing but disappointment to the people... procrastination an
» Under American sponsorship, Jordanian banks swallow the Iraqi dollar
» A member of the Parliamentary Oil Committee sets the date for ending the gas import file in Iraq
» The Minister of Oil announces the end of licensing rounds and reveals the number of participating co
» The Chinese company that won the development of Al Dhafriya field: The competition in the two licens
» Political praise for the Sudanese: He has an industrial and commercial mentality
» Melancholy Molly
» utube MM&C 5/11/24 Iraqi Dinar - IQD Update - International - IraqTiming - 2024 Budget Schedule - Sp
» The reality of the American presence... Objections are rising and the Sudanese are silent
» The work is discussing with the World Bank a project related to social protection beneficiaries
» Parliamentary Finance: The government intends to send the budget schedules this week
» The Emirates tops and Iraq does not exist...the list of the richest people in the Middle East and No
» A government plan to combat poverty and include 400,000 families with health insurance
» Iraq signs a memorandum of understanding with an American company to support the energy sector
» A deficit exceeding 75 trillion, and this is the date of its arrival.. Parliament’s finances talk ab
» Kirkuk.. A bank was caught receiving remittances for ISIS from a neighboring country
» The Minister of Commerce discusses with his Lebanese counterpart procedures for accelerating the con
» To find out who is negligent or not... The Basra Council forms a committee to follow up on the heads
» Iraq signs a memorandum of understanding with “Honeywell” to support the energy sector
» The judiciary reaches the final stage in the theft of the century file
» An economic expert proposes a solution to end the Jordan National Bank's "takeover" of the currency
» utube 5/12/24 Iraqi Dinar | Citi Bank Announced New Rate Of The Iraqi Dinar | Dinar News Today 202
» Reassurance to employees: “Salaries are not affected by delays in budget schedules.”
» Al-Anbeki: The framework is determined to proceed with the election of the Speaker of Parliament
» Al-Karaawi calls for revealing the truth about the presence of American forces
» Political conflict and corruption in Anbar oust two officials
» After joining Al-Halbousi, an agreement was reached to nominate Mahmoud Al-Mashhadani for the presid
» Within a month, the Central Bank of Iraq’s sales exceeded $4 billion
» The Iraqi Parliament decides to elect its new president next Saturday
» The Interior Ministry activates mobile stations to issue the unified card for communities abroad
» Jordan stops importing oil from Iraq
» The Association of Private Banks praises the Iraqi Central Bank’s approach to establishing digital b
» Iraqi fields cling to the foreign and kick the local... 3 reasons that embarrass private companies i
» The Minister of Commerce stresses the importance of creating a state of balance in the economy and e
» Among them is weak demand for gas...an economic diagnosis of the “most important” observations on th
» Proposing a parliamentary plan to get rid of job stagnation in state departments
» Involving and integrating the private sector into the investment map for sustainable development
» Population claims in the Maysan Marshes: Our water share is not distributed fairly
» The Iraqi Parliament reveals the latest developments in the “theft of the century”
» Jordanian industry exports to Iraq record an increase in 2024
» Implementation of 85% of the southern green belt in Karbala
» The Interior Ministry completes cleansing the areas of organized crime gangs
» Immigration: The displacement file will be closed next July 30
» Transport sets a date to close the file of development road route conflicts
» Service projects are launching non-stop
» Launching the Development Investors Map 2030
» Minister of Health to the Family Physicians Association: The year 2024 is the year of primary health
» The Iraqi Car Company wins the investment in the Al-Khulaysia area on the Iraqi-Syrian border
» Oil: No company has come forward to develop the Shihabi area within the provinces of Maysan and Wasi
» The House of Representatives sets next Saturday as the date for holding a session to elect its speak
» The Kurds refuse to share security positions in Diyala, “and there is nothing wrong with partnership
» Kurdistan is a repellent environment for young people... migration is still taking place and victims
» A Kurdish-Arab conflict prevents the harvest in Kirkuk and a call for the Sudanese to intervene
» An Iranian newspaper accuses Iraq of participating in a "water plot" against Tehran
» The Minister of Immigration directs all the ministry’s departments and branches to simplify procedur
» Al-Mandalawi: Parliament attaches utmost importance to human rights laws
» Al-Sadara was surprised and announced its joining Al-Halbousi
» Parliamentary Oil: Licensing rounds will pave the way for raising oil and gas production
» Al-Saadawi and the Tunisian Foreign Minister discuss activating the Baghdad-Tunisia line
» After joining Al-Halbousi, an agreement was reached to nominate Mahmoud Al-Mashhadani for the presid
» The Minister of Commerce stresses from Manama the importance of supporting efforts made to enhance A
» Minister of Oil: Most of the licensing round projects focused on gas patches to support electrical s
» Al-Awadi: Terminating the work of the UNAMI mission came at an Iraqi request and a UN recommendation
» Kurdistan Democratic Party: Resuming the export of the region's oil in the near future
» After two years of isolation, Al-Sadr is looking for a majority that will not force him to ally with
» Middle East Eye: A booming underground trade in alcohol in Iraq after it was banned in 2023
» 4 million for each year of imprisonment... Freedom in exchange for money... A controversial new Iraq
» The livestock sector in Iraq...indicators warning of a major crisis
» “Unfair” reconstruction in Iraq: areas where machinery is crowded and others still demonstrating for
» Economic statistics: The volume of internal debt in Iraq has risen to more than 76 trillion dinars
» Saleh explains the relationship between the rise in gold and the decline of the dollar and warns of
» The Minister of Oil sponsors the signing of an agreement to develop the Tuba oil field project with
» In numbers... Basra Oil explains the importance of the Tuba field after signing a contract to develo
» Electricity: The government provides energy at subsidized prices for (4) categories
» The electricity produced in Iraq covers 65% of demand... and 15 thousand megawatts is a “deficit”
» Parliamentary services: Government interest in Baghdad will make it one of the most beautiful capita
» Basra Council emphasizes work to qualify young people and place them in the labor market
» Politician: Al-Kadhimi was recommending that Plasschaert write “negative” reports about Iraq
» Trade launches operations to lift the ban on the ration card next to Rusafa
» utube 5/9/24 MM&C 0:02 / 46:46 PM - Al-Sudani - Golden Opportunity - Private Sector - Contra
» Bahr Al-Ulum calls for legislating the renewable energy law and localizing the solar panel industry
» In numbers: the rise in internal debt in Iraq
» Jordan demands that Iraq continue to export oil for another three months
» Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the Jun
» Close to the coordination framework: There is no intention to change the internal regulations of Par
» Central Bank sales exceed $274 million today
» But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The C
» Jordan addresses Iraq to extend a memorandum of understanding to purchase oil
» Bribes increased from 3,000 to 50,000 dollars.. What is the condition of alcohol in Iraq after the p
» Presence movement: Sunnis and Kurds while the Americans remain in Iraq
» A deputy reveals the contents of the first water strategy in Iraq
» Soon...the second reading of the proposed red card law
» The discovery of 10 new oil and gas fields in the Anbar desert
» A bloc announces to “Al-Ma’louma” the date of the parliamentary speaker’s election session
» Parliamentary Finance explains the mechanism for amending the retirement law
» Sovereignty accuses Al-Halbousi of obstructing the election of a Speaker of Parliament