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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    “The vote will not be delayed.” Parliamentary Finance begins discussing the budget today

    Rocky
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    “The vote will not be delayed.” Parliamentary Finance begins discussing the budget today Empty “The vote will not be delayed.” Parliamentary Finance begins discussing the budget today

    Post by Rocky Wed 26 Apr 2023, 5:05 am

    “The vote will not be delayed.” Parliamentary Finance begins discussing the budget today

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    Economy News _ Baghdad
    Today, Wednesday, the Finance Committee in the House of Representatives begins discussing the federal general budget for the years (2023-2024-2025) and works through 3 paths to reduce the deficit rate to 20 percent, and the members of the committee indicated in conversations with “Al-Sabah” that approving the budget will not be long delayed. And they emphasized that the Prime Minister gave the committee great flexibility in order to make amendments in cooperation with the Ministries of Finance and Planning.
    A member of the Finance Committee, Mustafa Al-Karawi, said, in an interview with Al-Sabah newspaper, followed by Al-Iqtisad News, that "the committee begins today, Wednesday, its discussions regarding the budget," and indicated that "the committee will go towards reducing operational budgets directly, unnecessary investment, and reducing loans."
    He expressed his hope that "such paths will help reduce the budget deficit, which is considered abnormal and could cause future economic problems for the country." 
    For his part, a member of the Finance Committee, Jamal Cougar, said, "The budget will pass and the vote on it will not be delayed, especially since not all ministers will be hosted. The time period for approving the budget.
    He added, "The committee has the power to reduce and transfer, and this is what will be worked on in order to reduce the deficit," explaining that "until now, the matter has not been resolved, as the numbers have not been checked or the concerned authorities have hosted." 
     He stressed that "Al-Sudani gave all flexibility to the Finance Committee and expressed his willingness to send the advanced staff in the Ministries of Finance and Planning for the participation of the Finance Committee in its sessions that need them," noting that "the government requested a budget for three years, so there should be a serious scrutiny of all the numbers in the budget to avoid Any mistake, and we should also be keen to reduce the deficit, because all indications say that oil prices will not remain at these numbers and will decline in the coming years. 
    And he continued, "The government has this rounded year of money and perhaps for the next year as well, and we may not have this rounded in 2025, so we must make accurate calculations for this matter, and for that the committee will add a paragraph that (the government is tasked with sending a budget for the next year with amendments to it." ) Because it is unreasonable for oil prices to change and the budget does not change.” Cougar suggested that the budget would be approved “at the end of next May.” 
    In turn, a member of Parliament, Salem Al-Anbuge, said: "Many important points are still pending in the 2023 budget, most notably the deficit, which constitutes 33 percent of the budget's volume, which is a large number, but efforts are being made to reduce it to 20 percent in a way that gives more flexibility." Especially since the government made pledges to cover the fiscal deficit and treat it according to specific financial contexts.  
    In addition, economist Haitham Al-Husseini said: The committee can squeeze "capital" expenditures in this year's budget. 
    Al-Husseini told "Al-Sabah": "This type of expenditure includes (maintenance, kerosene, gasoline, furniture and other materials that can be reduced), especially since comparing this year's budget with its previous counterparts shows that there is an increase in the capital budget." 
    He added, "The budget needs radical solutions to the issue of its preparation due to the presence of a lot of wasted money and accounting errors, as the budget must be restructured to be consistent with the event and the directions of the state. It is not possible to adopt the same budget that I used while I am following a socialist system in which the government has complete control over all joints." Today we are heading towards open trade. The economist suggested applying the "unified treasury" system that exists all over the world, "to know how much are the expenditures and revenues, and it is possible to know the financial movement of the amounts that are spent from anywhere in the country. Iraq must go beyond the classics in preparing its budgets and achieving the correct financial management system." In a related context, a member of the Legal Committee, Mahmoud Al-Salami, said, in an interview with Al-Sabah:


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