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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


    Al-Kadhimi warns against expanding financial spending by the government: it will lead to a large def

    Rocky
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    Al-Kadhimi warns against expanding financial spending by the government: it will lead to a large def Empty Al-Kadhimi warns against expanding financial spending by the government: it will lead to a large def

    Post by Rocky Wed Apr 10, 2024 7:52 am

    [rtl]Al-Kadhimi warns against expanding financial spending by the government: it will lead to a large deficit[/rtl]

    Policy  ,  04/10/2024 10:15  Number of readings: 159 
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    [rtl]Baghdad - Iraq today:[/rtl]
    [rtl]Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, warned of the increase in government spending in Iraq, noting that this trend may lead to a large financial deficit, such that it will become difficult to cover operating budget expenses and pay employee salaries.[/rtl]
    [rtl]Al-Kadhimi explained in a press interview that “the salaries of employees and retirees, in addition to the amounts of social welfare subsidies and food rations, are constantly increasing, and constitute a large part of the current operating budget, which is estimated monthly at 8.5 trillion dinars, which raises Iraq’s annual operating spending to about 100 trillion dinars.” “.[/rtl]
    [rtl]Regarding revenues, Al-Kadhimi stated that “Iraq annually achieves revenues estimated at 150 trillion dinars from oil and other sources,” stressing “the necessity of thoughtful government spending to avoid a large budget deficit.”[/rtl]
    [rtl]He also called on the government to “diversify revenue sources away from dependence on oil, by developing the agricultural and industrial sectors, improving the management of border crossings and customs, and implementing taxes and other measures that will strengthen the budget and reduce the financial deficit “[/rtl]
    [rtl]He stressed “the importance of automating customs and tax departments and increasing the amounts collected from telecommunications companies, in addition to exploring new sources of revenue that do not depend on oil, such as gas investment and the development of iron and steel factories.”[/rtl]
    [rtl]Finally, Al-Kadhimi stressed “the necessity of stimulating the private sector and creating new job opportunities, with a focus on reducing the number of government employees, given the presence of disguised unemployment in government institutions, and working to better invest the workforce in the private sector.”[/rtl]
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    [/rtl]

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