The financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, acknowledged, on Saturday, the existence of a financial deficit in the draft general federal budget law for the year 2022, indicating that it is of a consumer nature and there is nothing left for development and projects .
Saleh said, "The public financial dilemma in Iraq is that oil and non-oil revenues are also not sufficient to fill the operating budget, and therefore are of a consumer nature, and there is nothing left for development and projects ."
He added that "in previous budgets, projects are financed through a deficit that is based on internal or external borrowing," stressing that "there is a trend towards borrowing in the 2022 budget bill ."
And he indicated that "the draft budget 2022 is in the process of preparation, but it is expected that the fiscal deficit in it will be less than 50%, and therefore it will differ from the deficit of the 2021 budget."
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