[size=36]Finance Minister: The court's decision will have an impact on our ability to manage public finances[/size]
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Allawi said in a statement received by Mawazine News, "The decision issued by the Federal Supreme Court regarding the powers of the current government has important repercussions on the work of the Ministry of Finance, and in fact the court ruled that the current draft law on emergency financing proposed by the government is outside the powers of this government." This, of course, prevents this government from proposing any budget law for the year 2022.
He added, "The Ministry of Finance drafted the emergency law with the full knowledge of the House of Representatives, and the project proposal was keenly interested in investing the gains arising from the rise in oil prices to confront the global rise in the prices of basic commodities that affected the poor in our country and to enhance our ability to confront food emergencies in the future, and to cover the cost of production Crude oil by the Ministry of Oil, to repay the Ministry of Electricity’s debt on fuel imports, and to help strengthen the Ministry of Finance’s financial barriers.”
He added, "Such a law was necessary in the absence of the 2022 budget due to the multiple funding issues the government faced. This draft law was in no way intended to be a substitute for a full budget."
He pointed out that "the bill proposed by the Ministry of Finance was approved by the Council of Ministers and submitted to the House of Representatives for consideration, and today the Supreme Court issued its ruling, which made the bill inapplicable."
He stressed that the Ministry of Finance fully respects the decisions of the highest court in the country and is working to implement them, but we must make it clear that the court's decision will have an impact on our ability to manage public finances in a way that will mitigate the effects of the global rise in commodity prices and allow the government to meet the demands of the electricity sector with The beginning of the summer, in addition to the inability to meet the costs of oil extraction by the Ministry of Oil, and to build a reserve stock of grain.”
He noted that "in our scattered political environment, where government formation takes months to complete, it is difficult to see how stripping the powers of the caretaker government to manage crises and emergencies would serve the greater national interest." Ended 29 / p. 87