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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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    Experts diagnose a number of positive aspects in the 2023 budget, including the stabilization of the

    Rocky
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    Experts diagnose a number of positive aspects in the 2023 budget, including the stabilization of the Empty Experts diagnose a number of positive aspects in the 2023 budget, including the stabilization of the

    Post by Rocky Thu 16 Mar 2023, 5:40 am

    [size=30]Experts diagnose a number of positive aspects in the 2023 budget, including the stabilization of the exchange rate
    [ltr]2023.03.16 - 09:39[/ltr]
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    Baghdad - people  
    The process of approval by the Council of Ministers of a “triple” budget that extends until the year 2025 was welcomed by a number of specialists in economic affairs, who praised the paragraphs supporting the increase in sustainable development rates, especially in the health and education aspects.  
      
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    Experts added to a report published by the official newspaper (March 16, 2023), followed by "NAS", that "setting a fixed exchange rate in the law is a factor that will contribute to bridging the gap between the official and parallel exchange rates, stressing that planning for three budgets is a step that reflects the government's clear economic vision." ".  
      
    The Parliamentary Finance Committee also welcomed the completion of the budget law by the Council of Ministers, stressing that it has three powers related to the law, including making financial transfers between some of its sections, as well as pressure or reducing expenditures.  
      
    A member of the Parliamentary Finance Committee, Jamal Cougar, believes that “one of the positives included in the current year’s budget is that the government’s strategy will be clear to the House of Representatives, and that the process of monitoring the government program will take place through the implementation of the items in that program through the general budget,” noting that setting A "triple" budget that extends until 2025 represents the presence of a clear economic vision for the government through which it can plan for three years.  
      
    Cougar indicated, "Parliament has three powers regarding the budget, the first is to pressure or reduce expenditures, and the second is to transfer between chapters in the paragraphs of the law, especially in the event that there is inflation in a certain party at the expense of another party, while the third power is represented by the legislative authority." In adding or amending articles that do not affect the financial side, and in the event that there are paragraphs that include a financial side, it can be done at the time in agreement with the government.  
      
    The deputy expected that the first budget would be detailed and discussed extensively inside the dome of parliament, while the second and third budgets would witness changes as a result of the instability of global oil prices or the quantities produced, especially as Iraq moved towards a fifth licensing round that could lead to an increase in the quantities produced of oil. In addition to the existence of investment and social developments that will lead to changes that may be "radical" in the second and third budgets.  
      
    In turn, the economist, Manaf Al-Sayegh, pointed out that "the 2023 budget in the general concept is different because it deals with the next three years, and this represents an important economic strategy, and it is part of the insistence on implementing the government program of the Prime Minister," praising the establishment of good financial allocations for many important aspects. In society, especially vulnerable groups and the protection and food security network, as well as setting allocations for the Development Fund with the aim of implementing projects that provide job opportunities.  
      
    Al-Sayegh also expressed his welcome to deal with the budget and its focus on alternative energy and improving electricity, indicating that among the positive points that the budget focused on was its interest in the service aspects of the citizen, especially health and education, which is fully compatible with the government curriculum, as well as the budget's interest in the investment reality. Which would move the wheel of production and eliminate unemployment and increase development rates.  
      
    Al-Sayegh stressed the necessity of not neglecting the paragraphs included in the budget during its completion period in the coming years, suggesting that through the presence of a good financial abundance of oil revenues, it is possible in light of this to achieve most of the budget points, warning at the same time, of economic repercussions as a result of the events. The financial situation that the world is exposed to, and the impact of these matters on the Iraqi reality, calling for the need to develop a vision for how to deal with what may happen in terms of changes in the global economy that may reflect negatively on the Iraqi reality, especially the decline in oil prices globally, praising the fixation of the exchange rate in budgets The three proposed.  
      
     Contrary to the previous opinion, the economist, Dr. Hussein Al-Khaqani, believes that “approving a budget for three years, or one budget that is repeated for three years, is a violation of the Financial Management Law, which set the rules for preparing the budget and stipulated its annuality, meaning that its life as a financial plan does not exceed” a year. Indicating the possibility of approving a budget for a year that can be implemented during the fiscal year that follows, but the financial plan for the next year will be subject to modification according to changing expectations in revenues and changing the nature of spending, as well as in addressing the deficit based on borrowing and repayment of sovereign debts, at which time we will enter into a spiral of adjusting spending amounts. Investment sector in particular, and the issue of amendment may be easier than approving a new budget.  
      
    The expert, Al-Khaqani, pointed out that "the issue that the government took into account in the budget is the continuity of implementing development projects, as spending often stops at the end of the fiscal year pending the approval of the new year's budget, so the positive that will happen is that development and public projects continue to be implemented due to the presence of Continuous allocation that crosses the fiscal year, which will help the government direct its investment spending during the three years without delay.  
      
    The spokesman also pointed out that this process will provide an opportunity for the government to build a new budget for a new period to come without the annual timing being pressure on it, and it will give more room to operate projects that will have a positive impact on reducing unemployment and increasing the use of local resources in a more flexible manner.  
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