15:45 - 08-14 2022
On Sunday, August 14, 2022, Adviser to the Prime Minister, Mazhar Muhammad Salih, warned of what he described as a “financial blockade,” while indicating that there are fears of entering 2023 without a budget.
Saleh said in a press statement, "One of the most serious concerns that is currently being raised is the public finance problem, which may enter into a financial impasse or blockade," noting that "there are no exchange powers at all. The absence of a budget law in the following year, spending at the rate of 1/12 of the actual expenditures made in the previous year’s budget.”
Saleh added, "The fears are entering 2023 without a budget, so what is the exchange rule in this case with the absence of the 1/12 rule? .. The Emergency Food Security Law No. 2 of 2022 expires at the end of this year."
Saleh explained: The public finances will be in trouble, unless the prime ministers and the republic resort to the Federal Court to obtain a decision that allows them to continue spending according to 12/1 in 2023 until the legislative arrangements are completed to issue and accept the 2023 budget, even if it is a caretaker government.
According to the chancellor, the federation can issue a decision that protects the interests of the people and the economy from stagnation by what is called force majeure.
[You must be registered and logged in to see this link.]