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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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    An advisor to the Prime Minister expects a supplementary budget and warns of risks

    Rocky
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    • Post n°1

    An advisor to the Prime Minister expects a supplementary budget and warns of risks Empty An advisor to the Prime Minister expects a supplementary budget and warns of risks

    Post by Rocky Wed 07 Apr 2021, 7:35 am

    An advisor to the Prime Minister expects a supplementary budget and warns of risks

    •  Time: 04/07/2021 08:59:30
       
    •  Read: 5,161 times

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    {Economist: Al Furat News} The Financial Adviser to the Prime Minister, Mazhar Muhammad Saleh, expected a supplementary budget in 2021.
    Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. [You must be registered and logged in to see this link.]
    Saleh said in a press statement, “The new investment projects that have put their annual allocations into the current year’s budget, despite their limited national business and the expansion of business expenditures in the country, will constitute one of the basics for the economic growth of thousands of business opportunities in the country.”
    He added, "In the event that oil prices continue to recover for a reassuring period of time, additional new investment projects will be approved, and a supplementary budget may be approved if time permits, to extend this to additional investment projects, and the matter is left to the budget strategy, estimates and financing alternatives."
    Saleh pointed out that, "at the same time, the risks of approving the budget involve two points. The first is that it is a year approaching the legislative elections, and with the absence of a general budget whose expenditures constitute approximately 50 percent of the gross domestic product, meaning there is ambiguity in financial planning that competes with the election. Strong signals of uncertainty for decision-makers in the private sector. "
    He added that "the delay in approving the budget creates an atmosphere of conservatism in the activity of the private sector, which adds severe idle effects on economic growth. The second point is that the country is deprived of investment activity and the important operational programs and its effects on the economic movement. Surplus labor in the labor market, in light of growing unemployment rates by more than one decimal place and poverty levels, as well as requiring maximizing the spending cycle and moving economic activity leading to more job opportunities.
    On March 31, the House of Representatives approved the federal fiscal budget for 2021, with total expenditures amounting to 129 trillion dinars (about $ 88 billion), while it recorded a deficit of 28 trillion (about $ 19 billion).
    Estimated revenues from exporting crude oil were also calculated on the basis of an average price of $ 45 a barrel, and an export rate of 3.250 million barrels per day.
    Iraq relies on the revenues from selling crude to cover more than 90 percent of state expenditures, which put the country in a stifling financial crisis last year, as a result of the decline in oil prices in global markets due to the Corona pandemic.
    The approval of the budget comes after the lapse of 3 months of the current fiscal year, and it will be applied retroactively over the previous months.
    Ammar Al-Masoudi
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