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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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    Al-Kazemi’s advisor: The Federal Court’s decision cut off the way for the government’s demand to sub

    Rocky
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    Al-Kazemi’s advisor: The Federal Court’s decision cut off the way for the government’s demand to sub Empty Al-Kazemi’s advisor: The Federal Court’s decision cut off the way for the government’s demand to sub

    Post by Rocky Tue 17 May 2022, 6:21 am

    [size=30]Al-Kazemi’s advisor: The Federal Court’s decision cut off the way for the government’s demand to submit the budget[/size]


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    Erbil (Kurdistan 24) - The Financial Adviser to the Prime Minister, Mazhar Muhammad Salih, confirmed on Monday that the Federal Supreme Court’s decision to cancel the Emergency Support Law for Food Security and Development blocked the way for the caretaker government to submit a draft budget law for 2022, while stressing that it will work hard on Supporting food security until the budget is approved.
    And it was quoted by the Iraqi News Agency (INA), about Saleh as saying, "It has become clear that it is not possible to proceed with any law before the executive authority completes its constitutional entity according to the results of the 10/10/2021 elections. The House of Representatives itself is not allowed to discuss any bill unless it is passed in accordance with the constitutional contexts and from a government that is filtered by the results of the above elections, that is, including a request to the caretaker government to submit a draft federal budget bill for the year 2022.
    He added, "Nevertheless, the caretaker government will work hard to support Iraq's food security with care through the financial actions available to it as determined by the current Financial Management Law No. 6 of 2019 amended, until the legislation of the Federal General Budget Law for the year 2022 According to the constitutional paths that do not contradict the decision of the Federal Court above.
    On the status of the Iraqi economy, Salih said, "The annual government spending in the general budget constitutes nearly half of the gross domestic product, which means that economic activity depends in its greatest weight on government spending, and most importantly, total government spending is the investment part of spending that drives demand. It affects the productive market resources, specifically the labor market and human skills, and at the same time increases the growth of national income through mechanisms called the (economic accelerator).
    And he continued, "But these important investment accelerators are inevitably linked to the budget law for the year 2022 through the new investment spending doors and new investment programs, and not with the disbursement of 1/12 of the actual current expenditures in 2021, which are mostly related to limited operational spending affecting the growth of output. The gross domestic product,” noting that “average oil revenues for the year 2022 increase by no less than 60% of the revenues of oil exports for the year 2021.”
    He concluded by saying, "This means that there will be a large financial reserve available to the state at the end of the year, which may exceed $40 billion in the event that the current fiscal year ends without enacting a budget law and restricting spending within the scope of the current financial management law, i.e. spending at a rate of 1/12 of last year's current expenses." ".
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