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Experts urge expediting the release of financial allocations
Economical 04/24/2024
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Economic circles have called for the necessity of working to complete the financial schedules for the year 2024 and not to delay in this important detail related to the implementation of projects that have a positive impact on the lives of citizens and the national economy, as the launch of budget allocations works to move the local labor market and addresses chronic problems that have left a negative impact on the reality of life. .
Member of the Baghdad Economic Forum, Jassem Al-Aradi, described the move to complete the financial schedules for the year 2024 as important, as the budget allocations contribute to reviving economic life by providing financial liquidity to implement a large number of projects that will create direct and indirect job opportunities in the relevant sector and the supporting sectors.
He explained that the evidence from projects in Baghdad and various governorates implemented by the Iraqi private sector is evidence of its capabilities to address the largest projects in the country, especially since Iraq needs a major local and global effort to implement its projects in various sectors.
He pointed out that any average project employs hundreds of engineers and technicians, in addition to unskilled workers in different specializations, as implementation requirements lead to different specializations, all of which are indispensable. The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, had indicated that the 2024 budget tables focus on investment spending for new projects, and that “the existing procedures for completing the general financial tables for the fiscal year 2024 in order to submit them to the legislative authority for approval and immediate implementation are only a response to what was stated in the text.” It was stated in Federal General Budget Law No. 13 of 2023 (Tripartite), which required the submission of schedules of public expenditures and revenues adapted in accordance with the new fiscal year and its objective circumstances for the year 2024 for legal approval.
He pointed out that "the most important thing in these tables is determining the levels of investment spending on new projects, which is fundamental and fundamental spending in the movement of the national economy, as it is directly linked to the development and growth of the economy by providing objective conditions for the movement of government demand for supplies and inputs for investment in projects." New approved.
The economic affairs specialist, Yasser Safaa, pointed out that the Iraqi private sector now possesses the capabilities and expertise that enable it to implement the largest projects, and today is much different from yesterday, as it possesses the implementation capabilities for projects in various sectors, pointing out that the launch of financial allocations will strengthen and develop the capabilities of the private sector. .
He pointed out that launching projects would move the transport sector between governorates and within cities, as the need for a continuous transport process does not stop at a certain limit, and this is a positive thing that moves this sector and all the work joints associated with it, from various repair shops and the field of selling spare tools and other related necessities. in this sector.
He pointed out that the construction materials industry sector will also turn its wheels at full speed due to the large volume of work in all regions of the country, and that the Iraqi private sector is implementing major and important projects, and the release of budget allocations represents the water that irrigates a drought-stricken land.
He explained that stimulating the national labor market will create demand for local and international efforts, and this requires integration with countries of the world in more than one work area. From here, we indicate the extent of the importance of the Iraqi labor market and its impact on the markets of the region and the world, which must be invested by the concerned authorities in achieving the goal. The ultimate goal of sustainable development.
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