The Parliamentary Finance is ignorant of the details of the budget: it has become embarrassing to ta

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[size=52]The Parliamentary Finance is ignorant of the details of the budget: it has become embarrassing to talk about it[/size]

[size=45]Baghdad / Hussein Hatem[/size]
[size=45]Ambiguity still surrounds the draft financial budget law for the year 2023, as the Iraqi street fears the repercussions that will occur after the end of the current fiscal year.[/size]
[size=45]The House of Representatives did not set an official date for the arrival of the draft budget or for reading and voting on it, while representatives in Parliament indicated that the delay in the 2023 budget does not affect the salaries of employees, but rather will have an impact on projects only.[/size]
[size=45]In June 2022, the House of Representatives passed the emergency support for food security and development bill, in a move that allowed the government to spend on some projects and run state affairs temporarily, despite the political differences that accompanied the process of passing the law.[/size]
[size=45]A member of the Finance Committee in the House of Representatives, Jamal Cougar, said in an interview with (Al-Mada), that “the financial budget for the year 2023 has not yet reached the House of Representatives.”[/size]
[size=45]Cougar added, "The financial allocations and the total amount of the budget law are not known until the present time," ruling out "the arrival of the budget bill before the end of the legislative recess of the House of Representatives."[/size]
[size=45]He pointed out, "The delay in the budget will cast a shadow on the citizen, as it leads to the suspension of the private sector as well as the stopping of projects, and the difficulty of creating new job opportunities."[/size]
[size=45]Cougar did not specify a date for the arrival of the draft public budget law for the year 2023, pointing out that "the expectation of the date for the arrival of the federal budget for the year 2023 to the Council of Ministers or Representatives has embarrassed us because of its inaccuracy."[/size]
[size=45]In turn, a member of the Parliamentary Investment and Development Committee, Muhammad al-Ziyadi, said in an interview with (Al-Mada), that “the House of Representatives is ready to cut off its legislative recess when the draft public budget budget arrives in Parliament to carry out its tasks and discuss the project.”[/size]
[size=45]Al-Ziyadi added, "One month is sufficient to read the budget and vote on it as soon as it arrives," noting that "the Ministry of Finance and the concerned authorities continue their work in order to complete the inclusion of all paragraphs in the budget."[/size]
[size=45]And he pointed out, “The delay in the arrival of the law until after the end of the fiscal year for a long time, will push the government to borrow and financial matters will proceed through the equation of spending 1 to 12 of the value of the last budget of 2021.”[/size]
[size=45]Al-Ziyadi noted that “the delay in the public financial budget does not affect the salaries of state employees and retirees, but rather the impact will be on lagging projects.”[/size]
[size=45]And the Central Bank of Iraq announced, in September, the rise in foreign reserves to the highest level since 2003, which amounted to 85 billion US dollars, while it announced last August that its cash reserves rose to 82 billion dollars, which is the level before the ISIS war, while Iraq advanced 10 It ranks in the list of the country with the most gold reserves in the world, with 130 tons.[/size]
[size=45]For his part, Sardi Nayef, a member of the Parliamentary Economy and Investment Committee, says, “The delay in the draft public financial budget greatly affects the completion of projects,” noting that “the budget constitutes 50 percent of the gross domestic product in Iraq.”[/size]
[size=45]Nayef added, "The financial system hedges with the financial management law in the event of any political emergency such as delay in approving the budget," noting that "the financial management law replaces the budget, especially in regulating expenditures and revenues."[/size]
[size=45]And he pointed out, “The draft budget is considered an annual plan for one year, and in the absence of an annual plan, the actual current expenditures for the past year are used, as the Federal Financial Management Law stipulates that the disbursement when the budget law is not legislated, is on a monthly basis with the same allocations as other.” A year in which the budget law was passed.[/size]
[size=45]However, “this does not involve planning and economic vision.”[/size]
[size=45]And Nayef continued, “Hidling the adoption of the law will repeat the goals of the previous fiscal year, and this will result in a contraction in projects and investments.”[/size]
[size=45]And he went on, to "the need to intensify efforts in the House of Representatives to approve the budget as quickly as possible, address mistakes, and aspire to improve the economy and investment in Iraq."[/size]
[size=45]And the program of the new government, headed by Muhammad Shia’a al-Sudani, set the 2023 budget as a top priority, while Finance Minister Taif Sami confirmed in a previous statement that “the approval of the budget bill for next year will take place before the end of this year.”[/size]
[size=45]And Parliament Speaker Muhammad al-Halbousi had warned in August 2022 that, at the end of the fiscal year, sums of money could not be disbursed to all joints, including salaries, and reassured employees about the disbursement of their salaries, considering that not paying salaries and providing daily necessary expenses means “the collapse of the state.”[/size]
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