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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 budget deficit challenges the state's ability to secure spending, and ministries devour funds at

    Rocky
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    • Post n°1

    The budget deficit challenges the state's ability to secure spending, and ministries devour funds at Empty The budget deficit challenges the state's ability to secure spending, and ministries devour funds at

    Post by Rocky Wed 10 May 2023, 7:31 am

    [size=38]The budget deficit challenges the state's ability to secure spending, and ministries devour funds at the expense of developing the regions[/size]


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    May 10, 2023[You must be registered and logged in to see this link.]
    Baghdad / Obelisk Al-Hadath: Political and parliamentary parties fear that the budget deficit will affect the state's ability to meet the needs of citizens.
    This was embodied in the confirmation of the Finance Committee in the House of Representatives, that the budget deficit negatively affects the productive circles, while several solutions were proposed to address the financial deficit.
    Independent MP Jawad Al-Yasari revealed the date for voting on the 2023 budget, while indicating the possibility of reducing the deficit to 20%.
    Despite the oil imports, the deficit occurs in the Iraqi budget, as government expenditures are greater than the total revenues it earns, which leads to the accumulation of public debts for the government that spends more money than it earns, and uses borrowing to finance additional expenditures that exceed government revenues.
    The leftist said, in an interview followed by the obelisk, that the budget will be passed at the end of this month, indicating that, there is a tendency to reduce the deficit by 20% and pressure unnecessary expenditures.
    Criticism is being raised against the ministries that have been allocated large amounts of money, which necessitates the transfer of some of them to the development of the regions.
    And Iraq has been suffering from a financial deficit for long periods of time, due to the wars and internal conflicts that the country has witnessed over the past decades, which caused the destruction of the infrastructure and the economy and left a large number of the population without work.
    Iraq suffers from a high budget deficit, and in the event of a decline in oil prices, on which Iraq depends mainly as a major source of national income, this will make the deficit a disaster.
    What increases the deficit is the chaos of the tax and fee system, which negatively affects state revenues, and administrative, financial and conditional corruption is one of the most important factors that contribute to the irregularity of the state budget in accordance with international standards and trends, which affect the improvement of financial conditions in Iraq.
    And the drop in oil prices, which is a major source of government revenue in Iraq, greatly affects government revenue.
    The large operational spending, especially military and security spending, affects development opportunities and infrastructure construction in Iraq.
    Avoiding the deficit in Iraq’s budget requires several measures in the short, medium and long term, including diversifying sources of income by increasing tax revenues, fees and taxes imposed on non-oil sectors to reduce dependence on oil as the only source of income.
    Iraq needs to improve the efficiency of government spending by improving financial and administrative management, and getting rid of repetition and bad management.
    Corruption, bureaucracy and mismanagement of public funds were major challenges for the Iraqi government in combating the fiscal deficit. Despite the government's efforts to improve the management of public funds and combat corruption, it still faces great difficulties in this regard.
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