The appearance of Muhammad Salih on the budget delay: the state's financial activity will continue..

[size=52]The appearance of Muhammad Salih on the budget delay: the state's financial activity will continue... But![/size]

[size=45]Yesterday, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, outlined the economic impact resulting from the delay in approving the general budget.[/size]
[size=45]Saleh said, in a press statement followed by (Al-Mada), that "the effective financial management law is an exceptional and important alternative to the management of public finances in the country, in the event of delay in approving the general budget for any reason, as is the case at the present time, which is a specific financial policy. Through it, disbursement mechanisms are exercised in a manner similar to the actual current expenditures that were disbursed successively in the previous year 2021 and according to an exchange rule of 1-12 per month.”[/size]
[size=45]He added, "If this mechanism is available, the financial activity will continue without creating booms that suit the higher and desired levels of growth in the economy in its current situation, especially in the implementation of projects, programs and investment activities, as well as providing new government job opportunities, which means that the current financial activity is an activity The minimum, which represents the last year and does not correspond to the desired activities that the budget aspires to in accordance with the levels of population and sectoral growth desired, to meet its needs, which are definitely the largest, especially the issue of new investments and their impact on reducing unemployment in the labor force and business activity in the private sector and its important impact in promoting the activity of National income if it is achieved.[/size]
[size=45]He pointed out that “there will remain a gap between the required financial planning that fits the annual increase in population and development needs, which is approved by a general budget planned according to the needs and expansions of economic life and the development of its conditions in accordance with the objectives of the annual budget law and for each year, and the absence of a budget that is replaced by the adoption of last year’s standards to meet the needs of economic growth population this year.[/size]
[size=45]He continued, "There is an overlap and divergence between financial needs and desires and the available financial policies that depend on the standards of the past year on the current year," noting that "the longer the budget law legislation is disrupted, the slower the new expenditures that serve the growing economic activity and record a state of quasi downturn in the national economy.[/size]
[size=45]He pointed out that "the general budget expenditures constitute approximately 50% of Iraq's gross domestic product, but in this case and the absence of legislation, the expenditures will remain slow and do not reflect the criteria of a financially prosperous year in oil revenues such as the current year, unless the budget is enacted as soon as possible and in accordance with standards development and stability for 2022.[/size]
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