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[size=36]One of them is related to the exchange rate... Parliamentary warning of 5 "problems" in case the budget is delayed[/size]
political| 10:29 - 02/28/2023
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Baghdad - Mawazine News
A member of the Parliamentary Finance Committee, Jamal Cougar, said today, Tuesday, that there are five “problems” that may occur if the financial budget law for 2023 is not legislated or delayed.
Cougar explained that the first problem is "the government's inability to implement its program put forward by Prime Minister Muhammad Shia'a al-Sudani, which is represented by projects that contain financial side, despite the passage of a quarter of its life, while the second problem comes from the continuation of the state of economic recession that swept the markets due to the lack of Liquidity and job opportunities created by the budget.
He added, "The third problem includes the continued divergence of exchange rates, which created a problem for citizens and the government as well, due to the failure to pump large sums into the market due to the delay in approving the budget," explaining that "most of the budget funds were spent in the first six months of the year, which will reduce the repercussions of the exchange rate problem." ".
He pointed out that "remittances are the fourth problem that the government will face, as 90 percent of them are related to the import of merchants and the private sector, and if there was a budget, these numbers would double for internal and external remittances sold, and thus the gap between the government price and the parallel market price will decrease," according to the official newspaper. .
As for the fifth problem, the member of the Finance Committee summarized that it relates to the fact that “failing to legislate the budget will prevent the executive authority from supporting the private sector, which will cause continued street pressure to create job opportunities,” noting that “the government was able to absorb contract employees and turn them into permanent owners, unless There are new graduates asking for appointment. Ended 29/N33
A member of the Parliamentary Finance Committee, Jamal Cougar, said today, Tuesday, that there are five “problems” that may occur if the financial budget law for 2023 is not legislated or delayed.
Cougar explained that the first problem is "the government's inability to implement its program put forward by Prime Minister Muhammad Shia'a al-Sudani, which is represented by projects that contain financial side, despite the passage of a quarter of its life, while the second problem comes from the continuation of the state of economic recession that swept the markets due to the lack of Liquidity and job opportunities created by the budget.
He added, "The third problem includes the continued divergence of exchange rates, which created a problem for citizens and the government as well, due to the failure to pump large sums into the market due to the delay in approving the budget," explaining that "most of the budget funds were spent in the first six months of the year, which will reduce the repercussions of the exchange rate problem." ".
He pointed out that "remittances are the fourth problem that the government will face, as 90 percent of them are related to the import of merchants and the private sector, and if there was a budget, these numbers would double for internal and external remittances sold, and thus the gap between the government price and the parallel market price will decrease," according to the official newspaper. .
As for the fifth problem, the member of the Finance Committee summarized that it relates to the fact that “failing to legislate the budget will prevent the executive authority from supporting the private sector, which will cause continued street pressure to create job opportunities,” noting that “the government was able to absorb contract employees and turn them into permanent owners, unless There are new graduates asking for appointment. Ended 29/N33
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