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The official newspaper: The Food Security Law has harmed the Iraqi citizen
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Economy News-Baghdad
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Economy News-Baghdad
An official press report stated, on Monday, that the Food Security Law, which was approved by the House of Representatives and entered into force recently, has harmed the Iraqi citizen instead of benefiting it .
The official "Al-Sabah" newspaper quoted, in a report, the expert in economic affairs, Nabil Jabbar Al-Ali, as saying, "Frankly speaking, the hopes that politicians have raised for the Iraqi people regarding the Food Security Law are nothing but false hopes, the purpose of which is to push and support the passage of a law allowing a caretaker government." Business spending an additional 25 trillion dinars on traditional unproductive consumer spending, which represents an increase over the country’s general allocations (120 trillion dinars spent during 2022) .
Al-Ali added, "Contrary to what is rumored, the legislation of this law may contribute to harming the Iraqi citizen, given that general government spending may rise from 10 trillion dinars per month to reach 15 trillion dinars per month after the law enters into force, which may contribute to raising inflation levels in It remained an ill-considered spending policy and a loose monetary policy ."
According to the newspaper, it "communicated with dozens of executive bodies that benefit from the provisions of the law, but they chose to remain silent and not respond to questions (when and how) these paragraphs will be applied, as if it did not concern them from far or near."
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