Economist: The delay in approving the budget impedes the work of the local and foreign investor
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The Economy News - Baghdad
The economist Aqeel Al Ansari said that the delay in approving the budget bill has negative repercussions on the Iraqi economy, and sends an unsuspecting message to the local and foreign investor.
He added in an interview with "Al-Iqtisad News" that "the budget has two operational and investment wings, and the delay in approving the budget means turning it into a pay-only budget and the lack of the investment side in it."
Al-Ansari continued that this means "high unemployment and entering the country in an economic recession that is difficult to get out of," adding that "one of the negative repercussions is the sending of an unsuspecting message to the local and foreign investor alike, thus delaying the investment operations in small and medium projects, but large projects are suspended. Necessarily".
With regard to solutions, Al-Ansari stressed the necessity of leaving the budget "from political conflicts" and making it economic to implement the government's vision to keep it away from the requirement of parliament’s approval for approval.
He added: "The other solution is for the Prime Minister-elect, and for a period of 6 months after the formation of the government, to submit a budget for a period of 4 years, which is thus the government's economic plan and regularization of the government program."