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Nabil Al Marsoumi to / Nina /: The three-year budget... will be economically weak and of no value
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[rtl]Baghdad / NINA / - The economist, Nabil Al-Marsoumi, confirmed: Building a budget for three years ... will be economically weak and of no value.
He told the National Iraqi News Agency / NINA /: It is known that one of the principles of budgets is to be annual in all countries, because one of the features of modern budgets is the accuracy of estimates of expenditures and revenues, and when the time is beyond a year, it is of little accuracy.
Al-Marsoumi added: All economic variables are calculated on an annual basis, income growth rate - economic growth rate - jobs - unemployment and others.
He explained: Iraq depends on building its budget on oil, whose price changes from time to time. Therefore, building a budget for three years will be economically weak and worthless. In the first year, the numbers will be mandatory, and in the second and third years they will be subject to adjustment, which means rebuilding another budget.
Al-Marsoumi explained: The main goal of this is to overcome the lack of a budget in Iraq, as in the years 14, 20 and 22, and this may be the only justification for the budget for three years, and there is supposed to be a financial plan for three years, not a budget, and this is the first time that this happens in financial policies in the countries of the world. /End3[/rtl]
He told the National Iraqi News Agency / NINA /: It is known that one of the principles of budgets is to be annual in all countries, because one of the features of modern budgets is the accuracy of estimates of expenditures and revenues, and when the time is beyond a year, it is of little accuracy.
Al-Marsoumi added: All economic variables are calculated on an annual basis, income growth rate - economic growth rate - jobs - unemployment and others.
He explained: Iraq depends on building its budget on oil, whose price changes from time to time. Therefore, building a budget for three years will be economically weak and worthless. In the first year, the numbers will be mandatory, and in the second and third years they will be subject to adjustment, which means rebuilding another budget.
Al-Marsoumi explained: The main goal of this is to overcome the lack of a budget in Iraq, as in the years 14, 20 and 22, and this may be the only justification for the budget for three years, and there is supposed to be a financial plan for three years, not a budget, and this is the first time that this happens in financial policies in the countries of the world. /End3[/rtl]
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