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Government policy to control the state's public finances
Iraq 2024/07/03
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Iraq has suffered throughout the past years from the inability of successive governments to control spending in both its operational and investment aspects, and to control expenditures in all the sections of activities approved by the state’s general budget. However, the current government - according to what specialists see - has been able, through its policies, to control the state’s public finances by implementing automation and e-governance programs, as well as moving towards balancing programs and performance and not being satisfied with balancing items.
The Prime Minister's Advisor for Financial and Economic Affairs, Dr. Mazhar Mohammed Saleh, said in an interview with Al-Sabah: "Within the scope of implementing its financial policy, the federal government has diagnosed that building the federal general budget on the principle of what is called the budget of items alone does not provide a sufficient basis for controlling financial transactions and ensuring that expenditures, both operational and investment, are performing and correctly targeting the activity on which they are spent."
efficient".
He explained that, "In this regard, the scope of financial responsibility required moving in two parallel directions to raise the efficiency of public finance and financial discipline. The first is: automating public finance work in revenues and expenditures, introducing digital systems, and relying on e-governance through the contents of the government program. The second is: directing public spending, especially investment spending in implementing public projects, towards the program and performance budget in a gradual and systematic manner, to ensure the efficiency of implementation and evaluate the performance of expenditures without disruption, delay, or waste of public money."
He pointed out that "this is what the current financial policy has adopted through the adoption of spending programs that provide oversight and evaluation of multi-faceted activities that concern broad sectors and activities and are currently called (special programs), without implicitly abandoning the budget of items that will be an integral part of the budget of programs or special programs as a first stage."
Saleh stressed that, "Based on the above, the country's financial system is currently being updated in a successive manner with its two pillars (financial automation and modernization of government accounting) and in accordance with the principles of digital control, and adopting the principles of programs in implementing and managing public budgets in a gradual and systematic manner within the framework of the country's economic and financial reform policy."
For his part, the researcher in financial affairs and academic development, Aqil Jabr Ali Al-Muhammadawi, said in an interview with Al-Sabah: “It is not possible to implement the management and control of public financial flows with high efficiency without evaluating and analyzing the financial situation, and the sustainability of public finance on solid financial foundations and methodology and a new specialized financial mentality with more accurate and solid financial models that go beyond the areas of functional and institutional dysfunction of public finance decisions and procedures, which will provide legal entities and public government institutions with additional objective information that can positively affect the quality of making and taking administrative decisions taken by government bodies, councils and departments.”
He added, "This indicates the urgent need to prepare a comprehensive financial methodology by experts in accounting and finance more than economics experts, in order to develop statistics, financial indicators, national accounts, financial practices, banking supervision, financial and real estate credit, financial insurance, and others according to concepts, and to provide specialized, advanced, more accurate and sound financial analysis, taking into account the differences in the areas of building, formulating and setting standards and measures according to standard models, as well as financial practices and applications and statistical resources from various governmental and non-governmental institutions."
Edited by: Mohammed Al-Ansari
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