Delaying the formation of the government pushes the 2022 budget to an unknown fate!

[size=52]Delaying the formation of the government pushes the 2022 budget to an unknown fate![/size]

[size=45]Baghdad / Hussein Hatem[/size]
[size=45]Former MPs and economic experts believe that delaying the formation of the government may lead to Iraq being free from the 2022 budget law, and they do not rule out resorting to the possible alternative option, i.e. working with the 1/21 system and repeating the implementation of the 2021 budget until next year.[/size]
[size=45]While they stressed that the employees' salaries will be secured until next year, and delaying the budget or not voting on it does not affect those categories. The rapporteur of the Finance Committee in the former parliament, Ahmed Al-Saffar, said in an interview with (Al-Mada), that “talking about the 2022 budget is premature,” stressing that “the budget cannot be predicted if the new government and parliament are not formed.”[/size]
[size=45]Al-Saffar added, "The draft budget will be voted on approximately 4 months after the first session of the new parliament is held."[/size]
[size=45]The former member of parliament expected that “there will be no federal general budget law for the next fiscal year 2022, and the possible alternative option would be to work with the 1/21 system, i.e. repeating the implementation of the 2021 budget.”[/size]
[size=45]The Federal General Budget Law for the year 2021 estimated the price of a barrel of oil at $45, but the current price of a barrel of oil is $76, and while the monthly oil revenues were four billion dollars, it has become more than six billion dollars.[/size]
[size=45]Al-Saffar pointed out that "the general budget law depends on the next government and its ministerial curriculum, since the current government is a caretaker government."[/size]
[size=45]The former deputy indicated, "The employees' salaries are securely secured through the operating budget, and delaying the 2022 budget does not affect any part of it."[/size]
[size=45]In turn, the financial and economic expert, Hammam Al-Shamaa, believes that delaying the 2022 budget is very likely in light of the circumstances and political conflicts that Iraq is going through.[/size]
[size=45]Al-Shammaa said in an interview with Al-Mada that "the political aspect is still ambiguous and unknown at the time of forming the government," noting that "the approval of the 2022 budget depends on political, not economic, issues."[/size]
[size=45]The economic expert added, "The caretaker government will have to work with the 1/21 system emanating from the 2021 budget for the purpose of securing employee salaries."[/size]
[size=45]Al-Shammaa called to "accelerate the formation of a government that meets the aspirations of the people, and to stay away from conflicts and disputes that do not bring any benefit to the people."[/size]
[size=45]In addition, the financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, said that “the 2022 budget will include a hypothetical deficit that will be paid from the money of the oil price difference.”[/size]
[size=45]He pointed out that "the draft budget 2022 has been completed, but it was not discussed in the Council of Ministers, because the current government is in the process of conducting business," noting that "the budget will be presented to the next government to confirm its observations on it, then it will be transferred to the House of Representatives."[/size]
[size=45]And he indicated that it will be passed after the formation of the new parliament, adding that "the Ministry of Finance has set, according to the next budget, 50 dollars per barrel of oil, and the rest was considered as a hypothetical deficit that is paid from the differences in the rise in oil prices."[/size]
[size=45]He added that "the new government will have a government curriculum that may agree with the budget or not," stressing that "raising the size of the economy in the country depends on the size of investment projects, as the more these projects increase, the higher the employment rate and the better the income."[/size]
[size=45]And the government advisor continued, "The most important obstacle lies in the fact that the volume of investment in Iraq is weak," noting that "the activation of the Public-Private Partnership Law is presented to the House of Representatives, and if it is activated, many state projects turn into partnership with the private sector or foreign companies." Thus, it will improve the economy in various areas, and there will be significant business movement.”[/size]
[size=45]After political differences and months of controversy, the Iraqi parliament voted, in early April, on the financial budget for the current year 2021, which amounted to 127 trillion Iraqi dinars (about $88 billion).[/size]
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