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Parliamentary investment: Iraq's investment cannot be developed by 23% of the budget
- Time: 03/19/2023 14:09:14
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{Economic: Al Furat News} The Parliamentary Investment Committee criticized the weak allocations of the investment sector in the public financial budget.
Committee member Muhammad al-Ziyadi told {Euphrates News} agency: "Allocating 23% of the budget for the investment side is something that cannot show any development or progress in this sector, even if the full 23% for investment and services is implemented."
He added, "The actual need for Iraq is to allocate between 60 to 70 percent of the budget to show actual development and progress."
Al-Ziyadi pointed out, "The budget included salaries between 68 to 70 trillion dinars as operating expenses that go in the form of salaries, and this matter is considered a major calamity that exists only in Iraq," as he put it.
It is noteworthy that the Council of Ministers approved in its regular session the three budgets and referred them to Parliament for approval.
Prime Minister Muhammad Shia al-Sudani said, after the council meeting in a press conference, that: "The total budget is more than 197 trillion dinars, the operational budget is more than 150 trillion dinars, and the investment budget is more than 47 trillion, and the budget deficit is 63 trillion dinars."
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{Economic: Al Furat News} The Parliamentary Investment Committee criticized the weak allocations of the investment sector in the public financial budget.
Committee member Muhammad al-Ziyadi told {Euphrates News} agency: "Allocating 23% of the budget for the investment side is something that cannot show any development or progress in this sector, even if the full 23% for investment and services is implemented."
He added, "The actual need for Iraq is to allocate between 60 to 70 percent of the budget to show actual development and progress."
Al-Ziyadi pointed out, "The budget included salaries between 68 to 70 trillion dinars as operating expenses that go in the form of salaries, and this matter is considered a major calamity that exists only in Iraq," as he put it.
It is noteworthy that the Council of Ministers approved in its regular session the three budgets and referred them to Parliament for approval.
Prime Minister Muhammad Shia al-Sudani said, after the council meeting in a press conference, that: "The total budget is more than 197 trillion dinars, the operational budget is more than 150 trillion dinars, and the investment budget is more than 47 trillion, and the budget deficit is 63 trillion dinars."
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