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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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The failure to pass the budget poses severe damage to the economy and the provision of services

rocky
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budget - The failure to pass the budget poses severe damage to the economy and the provision of services Empty The failure to pass the budget poses severe damage to the economy and the provision of services

Post by rocky Wed 18 May 2022, 5:58 am

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[size=52]The failure to pass the budget poses severe damage to the economy and the provision of services[/size]

[size=45]Translation: Hamed Ahmed[/size]
[size=45]A report spoke of significant negative effects as a result of the delay in approving the budget, warning that it was not enacted as happened in 2014, indicating that this contributes to the failure to provide essential services to Iraqis. According to a report by (The National) news agency, translated by (Al-Mada),[/size]
[size=45]"Political officials confirmed that the Iraqi government's ability to manage urgent needs, including vital services such as electric power, water, and the construction of schools, will be impaired with the Federal Supreme Court's decision to prevent the caretaker government from spending money."[/size]
[size=45]And the report continued, "The Federal Supreme Court ruled that the government of Prime Minister Al-Kazemi's conduct of business does not have the right to submit exchange decisions to Parliament or sign any commercial agreement."[/size]
[size=45]He pointed out, "Finance Minister Ali Allawi said that he respected the decision, but warned of difficult days ahead."[/size]
[size=45]The report quotes Allawi as saying, "The decision will have consequences for the work of the Ministry of Finance, as it will limit our abilities to mitigate the impact of high commodity prices, meet the needs of the electricity sector with the advent of summer, cover oil production expenses and support agriculture."[/size]
[size=45]The report stated, "Other parties said that this is a correct decision regarding the Al-Kazemi government, as the powers of the caretaker government are supposed to be limited."[/size]
[size=45]And he indicated, "The exchange will be limited to a monthly rate based on the 2021 budget, with this year's budget remaining suspended amid a political blockage over the formation of a new government."[/size]
[size=45]The report emphasized that "last year's budget amounted to 130 trillion Iraqi dinars (89.65 billion dollars), with a deficit rate estimated at 28.7 trillion dinars."[/size]
[size=45]He stated, "The government, in order to meet the accumulated needs, sent to Parliament a draft draft law on emergency support for food security and development."[/size]
[size=45]A member of the Parliamentary Finance Committee, Mustafa Sanad, said, according to the report, that "the last amendment to the law calls for the disbursement of 27 trillion dinars."[/size]
[size=45]Sanad added, "The lion's share of the financing, amounting to 8 trillion dinars (equivalent to 5.5 billion dollars) was allocated to the Ministry of Commerce to purchase wheat from local farmers and international processors to maintain the validity of the government ration card program."[/size]
[size=45]Sanad pointed out that “10 trillion dinars were set aside for development projects across the country, as well as 3 trillion dinars for the Ministry of Electricity to purchase gas from Iran to keep the power plants operating.”[/size]
[size=45]The report stated, "Iraq currently produces 21 megawatts of electrical energy, but the demand for electrical energy increases during the summer to reach 27 megawatts and even more, according to estimates."[/size]
[size=45]He continued, "The network of electric power transmission lines in the country is still in a state of non-maintenance and repair, which means that the generated energy loses a lot of its capacity before reaching the residents' homes."[/size]
[size=45]The report continues, "Iraq had planned to increase investment in improving the national electric power network, and there is a desire for the Al-Kazemi government to increase the energy generated from solar panels by 30% by 2030."[/size]
[size=45]On the other hand, the report talks about “Iraq’s need for new schools, and it is reported that in December it signed an agreement with two Chinese companies to build a thousand new schools.”[/size]
[size=45]He added, "The decision of the Federal Supreme Court halted any new plans within this scope, and is considered a brake on Al-Kazemi's attempt to continue running the government."[/size]
[size=45]And the report quoted, “The global economic expert, Kirk Sowell, from Utica Research Service, an economic consultancy who is familiar with Iraqi affairs, said in a tweet to him: It can be said that some Cabinet decisions will be subject to challenges as well, but there is no one to challenge them, and if it is possible to Al-Kazemi from referring to a section of the policy of previous decisions that are complete, then some decisions can be defended as they are within the correct business conduct authorities.”[/size]
[size=45]The expert added, according to the report, "Any other long budget delay, as happened in 2014, may have a serious impact on services that are supposed to be provided soon."[/size]
[size=45]And Sowell added, "Taking into account the ineffectiveness of the government, even if the money was approved on time, the situation would be more impotent if a new government decided to try to disburse the money in huge quantities after a long delay."[/size]
[size=45]About: The National news site[/size]
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