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Timings and budget constraints
19/9/2018 12:00 am [rtl] Mohammed Abdul Zahra al - Hindawi general state budget represents one of the most important annual laws, this importance comes as drawing on operational and investment spending tracks in the country, as well as identifying the sources of income and the mechanisms available through different sources and the amount of deficit schematic or realistic. And thus represent the state's financial plan for next year, which includes the planned expenditures of ministries and provinces and various institutions in terms of securing salaries of employees, which reach about 40 trillion dinars annually, as well as the provision of allocations for investment projects carried out throughout the country. These tracks are determined according to the forecast of revenues expected to be achieved through oil sales, which represent the largest share of budget funding, or through taxes and fees on services and revenues of border ports and contributions of other sectors . As a result of this importance, the budget enters into multiple tunnels and does not come out of them until after the painstaking efforts of all parties concerned starting from the ministries and governorates and independent bodies, which submit their annual programs, through the Ministries of Planning and Finance, up to the Council of Ministers, to the House of Representatives, She returns again to enter into the same spending that she entered on the first trip because of the objections and observations of members of the House of Representatives, and then turn to resume the trip again. Then passed by it must go to the Presidency of the Republic for approval and then to the fact sheet for publication, and then the Ministries of Planning and Finance to issue the implementation instructions, the government may challenge some items that the House of Representatives to change or add. Such a strenuous journey will take a period of time that in some years will cross the first third of the year or more. So as not to stand confused at the time unable to address the problems that may arise in the course of implementation. And here we want to talk about the budget of 2018, which approved the price of a guess $ 46 per barrel, and a deficit reached about 13 trillion dinars, has been described as austerity budget because many aspects of spending was not allocated the amounts required due to lack of financial resources .. After days began oil prices improve slowly Slowly, the Ministry of Finance began to speak of a financial abundance that helped fill the fiscal deficit in the budget. But the problem faced by the government, especially after the events in the province of Basra and other provinces, is how to provide financial allocations for doors not covered under the budget law . At a time when there was a huge financial abundance, the Ministry of Finance could not transfer funds between the doors because the law prevents this, nor could talk about the preparation of a supplementary budget in the absence of the House of Representatives. Therefore, some articles of the budget law have become a constraint on the government in providing appropriate financial allocations to provide services despite the availability of financial liquidity . And here and because we are still in the early stages of preparing the budget for the next year 2019, and with optimistic expectations of the arrival of oil prices to about $ 80, there should be a clear vision of this budget and reconsider all its doors away from the political effects that were subject to the budget for the year 2018 due to synchronization Prepared with the end of the legislative session and therefore some of the visions that governed the preparation were political visions trying to establish for the next stage . We believe that the circumstances of Iraq now require the preparation of a budget capable of meeting the requirements of development properly, and the need to address all the problems that turned into constraints that tied the government's hand in spending on vital and strategic projects .[/rtl] [rtl][You must be registered and logged in to see this link.] [/rtl] |
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