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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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    Can the Iraqi government adopt a budget for the year 2023 after its absence last year?

    Rocky
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    Can the Iraqi government adopt a budget for the year 2023 after its absence last year? Empty Can the Iraqi government adopt a budget for the year 2023 after its absence last year?

    Post by Rocky Sun 06 Nov 2022, 6:29 am

    [size=33]Can the Iraqi government adopt a budget for the year 2023 after its absence last year?[/size]

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    One of the first challenges of the Sudanese government is the adoption of a general budget for the country (Reuters)
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    6/11/2022
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    Baghdad - We are less than two months away from the end of the year, and Iraq is still without a public financial budget, after the previous government headed by [You must be registered and logged in to see this link.] was unable to send it to the Iraqi parliament, which reviews and approves it. Can the new government headed by [You must be registered and logged in to see this link.] overcome the negatives that occurred due to the absence of the budget, And enact a new one for next year?

    Reasons for lack of budget


    There are many reasons that led to the absence of the 2022 budget law, and there are several laws related to financial and economic aspects that are still on the shelves of the Iraqi parliament and have not been [You must be registered and logged in to see this link.] today . And what followed was the indecisiveness of choosing the president of the republic and prime minister for more than a year since the October 10, 2021 elections.
    Al-Rubaie explained to Al-Jazeera Net that one of the most important disrupted laws is the budget law, which is the most important economic and financial artery for the country, and the disruption of other economic laws, including the Industrial, Mineral and Commercial Investment Law, as well as the Public and Private Sector Partnership Law, and other laws.
    Al-Rubaie holds the political blocs and currents responsible for the country's economic failures, and the disruption of laws because its legislation needs political efforts that work in the interest of the state and the Iraqi people.
    [You must be registered and logged in to see this image.]Saleh pointed out that the Financial Management Law was an alternative to managing the country's public finances, in the absence of the general budget (communication sites)

    How to manage and budget absent?

    The financial advisor to the Iraqi government, Dr. Mazhar Muhammad Salih, talks - to Al-Jazeera Net - about how the Iraqi state manages its economic affairs in the absence of a budget by saying that the effective financial management law was an exceptional and important alternative for managing public finances in the country, in the absence of the general budget.
    He explained that it is a specific financial policy through which the exchange mechanisms are exercised within the Iraqi economy in a manner similar to the actual current expenditures that were disbursed successively in the previous year 2021, and according to the exchange rule of 1/12 per month (meaning that the monthly exchange is approved in accordance with the previous general budget).
    [You must be registered and logged in to see this image.]Al-Sayegh saw that there are severe effects on the economy as a result of the absence of the budget (Al-Jazeera Net)

    negative effects

    The absence of the budget led to the emergence of negative effects on the Iraqi citizen, identified by Haider Al-Rubaie in the increase in unemployment and poverty rates as a result of the faltering investment spending within the budget, calling for the need to include in the next budget law clear paragraphs “addressing the high unemployment amounting to 16.5% and poverty 25% of the total population of more than 40 million people, and high inflation to 12.3%, in addition to limiting the rise in the prices of imported goods by subsidizing the local product.
    For his part, the Iraqi public policy consultant Manaf Al-Sayegh considered that there are severe effects on the economy as a result of the absence of the budget, through the failure of the state to establish new investment projects in the governorates, and the inability to complete construction and reconstruction projects in the governorates that were under the grip of the Islamic State, and that He gave a negative signal to the investors due to the bad conditions.

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    Al-Sayegh pointed out that the absence of the budget led to the suspension of employee promotions and bonuses, as well as the absence of stabilizing state expenditures and imports in a deliberate and planned manner, in addition to the fact that a large part of public money remained untapped properly and the rate of deflation in the Iraqi markets increased.
    [You must be registered and logged in to see this image.]Zainab Al-Moussawi: The 2023 budget will differ from its predecessors by the presence of a significant investment component (Al-Jazeera Net)

    Budget 2023

    The program of the new government headed by Muhammad Shia Al-Sudani made it a top priority to advance the draft budget law for 2023 to Parliament, as the Iraqi Minister of Finance Taif Sami spoke about this in a statement seen by Al Jazeera Net, saying that “the approval of the draft budget law for next year will take place before the end of this year.” ".
    With regard to this budget, its features, a member of the Economic Committee in Parliament, Representative Zainab Juma al-Moussawi, identified it as estimated between 130 and 150 billion dollars, based on the exchange rate of one barrel of oil between 70 and 75 dollars.
    Al-Moussawi told Al Jazeera Net that the 2023 budget will differ from its predecessors by the presence of a significant investment component that is commensurate with the new government program for the Sudanese to provide services, in addition to its reliance on loans to implement specific strategic projects.
    The parliamentarian alluded to the existence of new resources for the budget, such as fighting corruption, which is expected to save millions of dollars, investing in tourism and revitalizing agriculture, industry and manufacturing industries, among others, at a time when she revealed that "the budget includes petrodollar allocations for oil provinces."
    As for employment, Al-Moussawi does not confirm in her speech that it is currently included in the next year's budget so far, "but the days may change that."
    [You must be registered and logged in to see this image.]Al-Marsoumi criticized the budgets in general and saw that they focus on financial revenues without paying attention to medium or long-term planning (Al-Jazeera Net)

    Balancing software and performance

    As for the economic academic at Al-Maqal University in Basra (southern Iraq), Dr. Nabil Al-Marsoumi believes that the programs and performance budgets that are concerned with categorizing the budgets of administrative units for major and subsidiary functions and programs will be chosen, linking them with the financial statements, and providing the public administration with accurate measurement methods such as unit cost and work measurement and performance rates.

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    Al Marsoumi explains - in his speech to Al Jazeera Net - that the budget focuses on the impact of government spending on the citizen through the provision of various services and their reflection on him and the overall economy, and also focuses on the business and activities carried out by administrative units, so the amounts are allocated to the program carried out by the ministry and not to the ministry itself. .
    Al-Marsoumi concluded his speech by criticizing the Iraqi general budget in general, saying that it focuses on achieving financial revenues without considering medium or long-term planning, and productivity factors and public expenditures are not evaluated because of the lack of focus on the optimal use of financial resources.
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