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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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The country without a budget in 2022

rocky
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budget - The country without a budget in 2022 Empty The country without a budget in 2022

Post by rocky Thu 10 Feb 2022, 5:20 am

[size=52]The country without a budget in 2022[/size]

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 Baghdad: Huda Al-Azzawi

Experts and parliamentarians specializing in the previous financial committees warned against the country remaining without a general budget in the current year 2022, and the negative effects and repercussions on all aspects of the state and the lives and livelihoods of citizens, calling at the same time to save public money achieved from the surplus of the current high oil prices in billions of dollars.
The Rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, said in an interview: “The ministerial curriculum and the government program are translated through the draft budget, which expresses the government’s financial and economic policy, and since the current government is a caretaker government and does not have the right to present draft laws, including the budget, so it is The new government is supposed to be formed so that we can talk about the budget.”
He suggested that “it would take at least two months to form the government, in addition to two more months to complete the draft budget or make an amendment to the same current budget, so according to our expectations if there is a semi-annual budget.”
With regard to the economic and financial implications of not approving the 2022 budget, Al-Saffar indicated during his interview with “Al-Sabah” that “the effects will be very bad, during the current year there was no budget and there has been a change in oil prices to more than $90, which means Half of the oil revenues are in excess of the planned budget in 21 budget at a price of 45 dollars per barrel, and this is a waste of public money, not benefiting from it and freezing it, especially since the current government does not have the right to make investments or contracts, but merely conduct business, and only the operational budget will be implemented,” and suggested “ Putting the achieved financial abundance in a fund that will be used in the next budget, where the focus is on the investment side with more than 50% of the total future budget,” explaining that “the issue of appointments and job grades will remain pending until the new budget law is enacted.”
In turn, the academic specialist in economic affairs, Dr. Maitham Al-Aibi, said in an interview: “As long as we have entered the year 2022, the budget law is no longer in force, and we are working in accordance with the Financial Management Law No. 6 of 2019, specifically in accordance with Article 13, according to which the Minister of Finance issues a statement. It includes the disbursement according to the (twelve) ratio 12/1 of the total actual expenditures for the current expenditures for the previous fiscal year, after excluding non-recurring expenditures on a monthly basis and until the approval of the draft budget law.
He warned that "this means stopping many of the operational expenses necessary to sustain the work of government institutions, as well as stopping any new current expenses related to the movement of owners and appointments or bonuses and promotions," explaining that "there is a common mistake related to the investment budget by not spending on it entirely, as The Financial Management Law clarified in (13/Second) the possibility of spending on the total annual allocation for spending on ongoing investment projects whose allocations are listed during the previous and current fiscal year.
Disclaimer: All published articles represent the opinion of its authors only[/size]
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    Current date/time is Tue 27 Sep 2022, 6:55 pm