by Rocky Tue 21 May 2024, 1:59 pm
16 hours agoFinancial experts said on Monday that the numbers mentioned in the 2024 budget are large and frightening, something the country has never ... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
16 hours ago
Financial experts said on Monday that the numbers mentioned in the 2024 budget are large and frightening, something the country has never witnessed before. While they indicated an exaggeration in the size of public expenditures in the budget, they stressed the lack of transparency in financial issues so far.
Banking expert, Dr. Mahmoud Dagher, stated during his hosting on the Al-Thama program with Ahmed Al-Tayeb, followed by “NEWS", that “the tripartite budget is a numerical projection for one year only, and the House of Representatives is restricting the tripartite budget by approving the schedules, and there is no justification for delaying sending the budget schedules to Parliament.” And the governorates complain that projects have stopped due to lack of funding.”
He added, “There is an exaggeration in the size of public expenditures in the budget, and that the expenditure in 2023 is 140 trillion dinars, and there is no transparency in financial issues yet,” explaining that “foreign debts are paid according to strict timings, and that Iraqi balances are good and do not need to go.” To debts and bonds.
He pointed out that “the food security law made allocations for the food basket independently, and the spending of food security allocations in different budgets needs clarification, and that the Central Bank has gone beyond the issue of cash liquidity scarcity.”
For his part, the economic expert, Mustafa Akram Hantoush, said in the same program that “the budget schedules have not been leaked to public opinion yet, and the size of the investment budget is 54 trillion dinars,” indicating that “the numbers mentioned in the budget are large and frightening that the country has not witnessed before, and that the law Food security has become part of the 2023 budget.”
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There is looking to be pressure on as they need funding on projects and cash liquidity is scarcity mode. There cannot be cash liquidty issues for very long.. Things start to go haywire when that happens in markets. I would expect the Central Bank knows about it and understands how that is the case.. It may not be surprising at this stage at all. A significant reduction in cash in markets may indicate a change is coming and new currency would fill the void. We shall see, as it is an expectation to occur. imo ~ MM | | | |
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