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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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    After the budget deficit widens... an economist sounds the alarm and warns of a "debt crisis"

    Rocky
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    After the budget deficit widens... an economist sounds the alarm and warns of a "debt crisis" Empty After the budget deficit widens... an economist sounds the alarm and warns of a "debt crisis"

    Post by Rocky Sat 30 Mar 2024, 5:13 am

    After the budget deficit widens... an economist sounds the alarm and warns of a "debt crisis"

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    Baghdad today - Baghdad
    Economic affairs expert Nabil Al-Marsoumi warned today, Friday (March 29, 2024), of a “debt crisis” that is draining the country’s financial resources and restricting the opportunities available to develop the Iraqi economy.
    Al-Marsoumi said in a post on Facebook, followed by Baghdad Today, that “one of the important economic problems that may have negative repercussions on the economic future in Iraq is the continuous rise in actual public expenditures without a parallel rise in public revenues, which is sometimes witnessed.” "down."
     Al-Marsoumi added, “Public expenditures increased in 2023 by about 40 trillion dinars compared to 2022,” pointing out that “the percentage of increase in actual public expenditures amounted to 22%, while public revenues decreased by about 26 trillion dinars, or by 19%, which reflects negatively on the deficit.” In the expanding public budgets.
    He stressed that "this situation may expose the country to a debt crisis that will drain the country's financial resources and restrict the opportunities available to develop the Iraqi economy." 
    The Minister of Planning, Muhammad Tamim, revealed on Wednesday (March 27, 2024) that the budget deficit had risen to 80 trillion dinars.
    A statement from the office of the Chairman of the Finance Committee, received by “Baghdad Today”, stated that “the committee, headed by Atwan Al-Atwani, hosted the Deputy Prime Minister, Minister of Planning, Muhammad Tamim, to discuss ways to overcome obstacles to listing and financing projects, and to discuss the reasons for the delay in sending the 2024 budget schedules to the committee.”
    Al-Atwani stressed during the meeting that, “The goal of approving the tripartite budget was to give the government flexibility to implement its program.”
    He pointed out, "The committee discussed, in its meeting with the governors, simplifying the procedures for listing and financing service and strategic projects undertaken by local governments, and therefore it is reviewing the proposals and proposals of the governors to the Minister of Planning regarding ways to overcome the obstacles to listing and financing projects."
    Al-Atwani asked the Minister of Planning about the reasons for the government’s delay in sending the 2024 budget schedules, and the latter replied, “The government committee responsible for reviewing and auditing those schedules is working to reduce the deficit of 80 trillion dinars because it is considered a large deficit.”
    The Chairman of the Parliamentary Finance Committee confirmed, “The committee is looking forward to sending the 2024 budget schedules as quickly as possible, because its continued delay has greater negative repercussions on the financing and implementation of projects, in addition to its impact on the productive sectors.”
    Al-Atwani revealed that "the total budget for 2024 amounted to about 228 trillion dinars."
    The Minister of Planning said that his ministry relies on an advanced electronic program to fulfill the project listing requirements, and that it has come a long way in terms of simplifying procedures.
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