Home
The 2023 budget may impose a “belt tightening” in expenditures
The first 2023/02/11
[You must be registered and logged in to see this image.]
Baghdad: Shaima Rashid
The government took advantage of the financial comfort as a result of the surplus of oil rents, so it was an opportunity to appoint and install more than 750,000 new employees. This comes at a time when the 2023 budget, which will reach Parliament soon, will break many numbers in allocations, and the deficit as well.
Parliamentary Finance indicated that changing the exchange rate may increase the budget deficit by no less than 10 to 15 trillion dinars, with the price of a barrel of oil remaining at around $70.
Committee member Jamal Cougar said, in an interview with “Al-Sabah”: “The financial management law does not allow the government to exceed the budget deficit of 3%, which in all cases does not exceed 15 trillion dinars, but the truth is that the deficit has reached more than 60%.” A trillion dinars before changing the exchange rate, and we expect that at least 10 to 15 trillion dinars will be added to this deficit,” explaining that the government “has two options, but not a third, either compressing expenditures and going towards deleting some paragraphs in the executive budget or the operational and investment budget.” Or accept an increase in the deficit from 60 trillion to 75 trillion.
And he believed that "the government should not borrow from local banks that owe it to it in the first place."
Regarding the government's internal debts, he said: "These banks are supposed to play the role that is synonymous with the role of the government because the latter can create job opportunities through projects through the investment budget, while banks can create job opportunities for the private sector by granting soft loans."
And he continued, "If the government tends to withdraw liquidity from these banks, it will burden it with increasing debts and loans and handcuffing the banks to create job opportunities, and thus the pressure will transfer to the government, which tended towards appointment."
Regarding the price of a barrel of oil, Cougar explained that "it will be in the budget estimates about $70, even with its low prices, and the government will have to withdraw from bank reserves as happened in previous budgets," pointing out that "the operational budget will be fixed, while the investment budget will change if it chooses." The government is compressing expenditures, and some projects may be transferred to a supplementary budget or subsequent budgets in the hope of higher oil prices.
Edited by: Ali Abdel-Khalek
[You must be registered and logged in to see this link.]
» The Central Bank of Iraq discusses opening communication channels with the Spanish.. Al-Alaq meets w
» Central Bank Sells Over $263 Million in Auction Today
» Market Forces Committee recommends holding an Iraqi-Turkish forum in Baghdad
» The Central Bank determines the commission of exchange companies for selling the dollar
» House of Representatives amends tomorrow's session agenda
» Internal and external debts "exhaust" the Iraqi budget, and experts diagnose the reasons
» "One of the doors of corruption" .. Parliamentary Transportation Committee criticizes the food file
» House of Representatives amends agenda for tomorrow's session
» Market Forces Committee recommends holding an Iraqi-Turkish forum in Baghdad
» Interior: We have concluded more than 10 different contracts with the military industry
» Director of Iraqi Ports issues directives to Umm Qasr Port Management
» Drafting a draft law to regulate electronic payment
» Al-Sadiqoun to the Foreign Ministry: Why did the Iraqi representative to the United Nations not with
» Mr. Al-Hakim to the British Ambassador: The international community bears the responsibility to prev
» In detail.. Transport announces the completion of all sections of the five berths project within the
» Developing a new method for recycling plastic waste
» Popular movement criticizes the position of the Ministry of Foreign Affairs on what is happening in
» Parliamentary Committee Supports Imposing Collection Fees on Services
» Politician: Parliament presidency negotiations have been limited between Progress and the Framework
» Parliamentary Security announces its follow-up to the agreement with the coalition forces regarding
» MP: Our ability to combat airspace violations has tripled
» After the Baghdad-Washington agreement... fears of American evasion to continue the presence of its
» Governmental move to implement new infrastructure projects
» Iraqi Army Prepares.. High-Level Security Meeting to Confront "Any Emergency" (Video)
» Al-Haims expects lifting of "sanctions" on Iraqi banks: No violations proven
» With a length of 37 km.. Water Resources completes the dredging and purification of the Sabla dirt s
» Record high for house rents in Baghdad
» Market Forces Committee recommends holding an Iraqi-Turkish forum in Baghdad
» The presence of "explosive materials" in Iraqi ports raises controversy... What is happening?
» Iraq ranked 64th globally in the hunger index last year
» Law to regulate {electronic payment}
» New infrastructure projects
» Government Real Estate Statistics
» big goal
» The President of the Republic and the Prime Minister call for unifying ranks and words
» Government completes diplomatic action plan
» Completion of 11 industrial investment projects in Najaf
» {Service Government} has proven its effectiveness in word and deed.
» Al-Sudani discusses regional situation with EU representative
» Implementation of 50 service projects in Maysan
» Transport coordinates internationally to develop the performance of Iraqi Airways
» Parliamentary Education Committee expects {Sabah} to discuss the third round and critical grades pro
» Soon.. Opening of two strategic projects in Baghdad and Wasit
» Justice begins census of government properties
» Minister of Resources to {Al Sabah}: Giant projects will provide large quantities of water
» Ruling out early parliamentary elections... Mahmoud Othman: Kurds "still" support Al-Sudani's govern
» Among them is the Director of Nationality and Passports.. Lists of names of those included in the pr
» As if he bought them from a "slave market".. Arrest of a man accused of "buying" foreign female work
» Roads and Bridges Department: There are those who inflame public opinion and distort our achievement
» Iraqi Reading: The Middle East Faces Two Choices and Israel Will Not Stop Escalation - Urgent
» Al-Sudani decides to postpone his official visit to the United Kingdom
» Barzani's party responds to Pavel Talabani: You run half of the region and respect the feelings of o
» Factions: The bullet to confront the invasion of Lebanon will be Iraqi and our missiles are ready
» New instructions from the Iraqi Embassy in Damascus to Iraqis and Lebanese
» Iraqi oil opens trading this week with a rise in global markets
» MP: Border security has reached its final stage
» “Mobile phones are prohibited inside polling stations”.. Kurdistan Interior Ministry issues decision
» "Factions" doubt US withdrawal from Iraq and demand inclusion of 3 points in the "new agreement"
» Migration drains Christian presence in Iraq.. Security, economy and government representation are th
» Retirement to Al-Zawraa: E-governance has ended paperwork and bureaucracy and achieved a shift in ou
» Investment devours the green... Nineveh loses half of its agricultural lands in a random race for pr
» Social assistance and scholarship salaries to be released next Tuesday
» 6 items on the parliament's agenda tomorrow, Tuesday
» Parliamentary Education: The failure rate of the sixth preparatory school is high.. and we are worki
» Here are the dollar prices in the Iraqi stock exchanges
» Arrest of a man accused of buying foreign workers and abusing them in Baghdad
» Ending the mission of the international coalition in Iraq.. the stage of "freezing tension" and a ne
» MM&C 9/29/24 What would happen to the Iraqi dinar if the zeros were removed? Comment by Dr. Mahmoud
» MM&C 9/29/24 What after the closure of the currency auction at the Central Bank of Iraq?
» MM&C 9/29/24 "THE EXPECTED PATH OF THE IRAQI ECONOMY"
» utube 9/28/24 MM&C IQD Update News -Iraq PM - $83 Billion 3 Years - Stability - Global Contracts -
» utube MM&C 9/26/24 Iraq Dinar News-Iraq Plans Redenomination of Currency-Value of it Related-Elect
» Advisor to the Prime Minister rules out a decline in gold prices in the coming period..and explains
» Legal expert: If it weren't for the Security Council's collusion, the Zionist entity would have been
» Minister of Planning announces field progress in preparations for the census
» Proposal before the government to form an economic and security crisis cell
» Al-Karawi: The government's ignoring of the resistance's request is a betrayal of the blood of the m
» Iraq is the fourth largest importer from Türkiye during the past month
» The Prime Minister directs that Lebanese citizens wishing to come to Iraq be granted fast travel doc
» US releases founder of cryptocurrency exchange Binance
» The Central Bank of Iraq issues a warning to exchange companies regarding the sale of dollars
» The Central Bank of Iraq sells more than $ 258 million in today's auction
» Launching of aid and scholarship salaries this week
» Karbala begins implementing 154 projects
» Next Tuesday.. Closing of the application for the central admission form
» Service effort: Including the capital and 4 governorates in next year’s plans
» Rafidain Bank issues instructions for granting real estate loans
» The expected path of the Iraqi economy
» Experts: Population census shapes economic policies and directs investments
» Central Bank records more than $1 billion in currency sales in a week
» The Central Bank of Iraq warns exchange companies that sell dollars to travelers from receiving a co
» Iraq under the microscope.. Will Baghdad succeed in avoiding regional conflict after the assassinati
» Al-Sudani makes a phone call to the Lebanese Prime Minister
» How will developments in Lebanon affect the Iraqi economy and the oil market?
» The position of the Speaker of Parliament and developments in the region on the table of Masoud Barz
» Targeting of an American base in Syria by Iraqi factions
» Official: Border shelling targeted Iraqi faction, reports of casualties
» How much is Iraq's external debt in light of the fluctuation in oil prices?