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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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    Mazhar Muhammad Salih presents a solution to address the problem of inflated operational spending

    Rocky
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    Mazhar Muhammad Salih presents a solution to address the problem of inflated operational spending Empty Mazhar Muhammad Salih presents a solution to address the problem of inflated operational spending

    Post by Rocky Sun 30 Apr 2023, 2:16 pm

    Mazhar Muhammad Salih presents a solution to address the problem of inflated operational spending

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    Economy News / Baghdad
    Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, called for the launch of sovereign development bonds for the Iraqi public in support of the national development funds, while pointing out that 70% of the monetary mass with the public is outside the banking system.
    Saleh told the Iraqi News Agency, "The escalating annual accumulation in the value and proportion of expenditures related to the operational side in the general budgets of Iraq is a legacy that unfortunately began more than sixty years ago, and today it occupies as operational spending a proportion of up to 75% of total public spending compared to government investment spending in development." Direct, whose percentage has turned into 25% and perhaps less than total spending in budgets over the past six decades, after it was between 65-70% of total spending.
    He added, "Since operating expenses are dominated by the nature of salaries, wages, pensions, and social welfare, which alone dominate operational spending today, with no less than 60% of that spending, there is no way to correct the development equation except by strengthening the savings resulting from those expenses and directing them towards the desired investment." ".
    And he continued, "As those operating expenses that are paid as annual income include a savings share of no less than 17%, except for private sector savings, and since the banking system alone cannot withdraw the savings and financial accumulations of their owners except in a scope that is still very limited due to its slow institutional structure, the opportunity has become urgent." Favorable fiscal and monetary policies to launch sovereign development bonds that can be traded in the stock market.
    He explained, "It can be launched with attractive interest and privileges that are offered and marketed to the public (in an attractive optional way) and with high sovereign guarantees at maturity, in order to employ the proceeds of the aforementioned bonds in development projects directly."
    He pointed out, "The policy of spreading the use of secured bonds is the effective and direct means of recycling government operational expenditures and diverting them towards (national development funds) referred to in the draft federal budget law, as it is noted that 70% of the issued cash mass amounting to 100 trillion dinars is The rough face is still in circulation outside the banking system with the public in a hoarding manner, which negatively affects the completion of the annual national income cycle.


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