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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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    A parliamentary proposal to enact a medium-term budget for three years

    Rocky
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    A parliamentary proposal to enact a medium-term budget for three years Empty A parliamentary proposal to enact a medium-term budget for three years

    Post by Rocky Mon 07 Nov 2022, 5:12 am

    POSTED ON[You must be registered and logged in to see this link.] BY [You must be registered and logged in to see this link.]

    [size=52]A parliamentary proposal to enact a medium-term budget for three years[/size]

    [size=45]Yesterday, Sunday, deputies revealed a proposal to approve a medium-term budget for three years, expecting the allocations for next year to reach 150 billion dollars.[/size]
    [size=45]Representative Raed Hamdan Al-Maliki said, in a press conference followed by (Al-Mada), that “there is a parliamentary proposal submitted to the Ministry of Planning and the Parliamentary Finance Committee to prepare a medium-term budget for a period of three years, based on the provisions of Article 4/Second of the amended Financial Management Law No. 6 of 2019.” .[/size]
    [size=45]Al-Maliki added, “The proposal stipulates that the Federal Ministry of Finance prepare a medium-term budget for a period of three years, to be submitted once and legislated, and the first year is obligatory and for the Council of Ministers, based on a proposal from the Ministries of Finance and Planning, to amend it for the second and third years and with the approval of the House of Representatives.”[/size]
    [size=45]He continued, "We asked the above authorities to consider this proposal, which is based on realistic justifications and with the aim of developing a financial plan for the state with an average time ceiling," stressing the need to "implement programs and projects and estimate revenues and current and investment expenditures."[/size]
    [size=45]For her part, Representative Zainab Juma'a al-Moussawi said that "the budget for next year will range between 130 and 150 billion dollars."[/size]
    [size=45]Al-Moussawi continued, "The price of a barrel of oil in this law has not been determined until the present time, but it will not exceed $75."[/size]
    [size=45]She indicated, "The law will be different from what Iraq knew in the past from budgets," expecting "the investment aspect to rise and make it commensurate with the new ministerial curriculum of the government of Muhammad Shia Al-Sudani."[/size]
    [size=45]Al-Moussawi stressed that “this change in the financial plan comes to support the government to provide services,” and did not rule out resorting to “borrowing in order to implement specific strategic projects.”[/size]
    [size=45]She explained, "The government's efforts in combating corruption can provide the government with large sums of money while investing in tourism, revitalizing agriculture, industry, manufacturing industries, and others," stressing that "the budget includes petrodollar allocations for oil governorates."[/size]
    [size=45]Al-Moussawi concluded, "The issue of adding functional degrees to the law is not clear until the present time, but the situation may change over time."[/size]
    [size=45]The head of the committee, Mahasin Hamdoun, said in a previous statement to (Al-Mada), that "the draft budget law for next year is still with the government, and we have not received any copy of it." And Hamdoun continued, "It is better for the public interest not to set a price for a barrel of oil, but it remains without a price, because the budget is in Iraqi dinars and not in dollars." She pointed out, "Resorting to this option has its justifications, and its reason is to avoid a budget deficit."[/size]
    [size=45]Hamdoun spoke about "the possibility of Iraq getting a large surplus from the difference in oil sales at the end of this year, but there are debts imposed on us that must be paid with interest." And she did not rule out, that “the next budget includes job grades, especially from contract holders of Resolution 315, and their confirmation will not cost the state much, as they are receiving salaries at the present time close to those granted to their peers who are owners.”[/size]
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