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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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    Similar to 2014... Will Iraq resort to reducing expenditures to cover the budget deficit?

    Rocky
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    Similar to 2014... Will Iraq resort to reducing expenditures to cover the budget deficit? Empty Similar to 2014... Will Iraq resort to reducing expenditures to cover the budget deficit?

    Post by Rocky Sun 06 Oct 2024, 4:38 am

    Similar to 2014... Will Iraq resort to reducing expenditures to cover the budget deficit?

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    Baghdad Today - Baghdad
    Mazhar Muhammad Salih, economic advisor to Prime Minister Muhammad Shia al-Sudani, commented today, Saturday (October 5, 2024), on the possibility of the government resorting to reducing expenditures, in order to cover the budget deficit and the lack of liquidity.
    Saleh said in an interview with Baghdad Today, "The state was exposed to economic shocks, as happened in 2014, in the financial crisis, and the health crisis after the spread of the Corona virus and the decline in oil prices, but despite that, basic and governing expenses and salaries did not stop."
    He added, "We have 4 million recipients of government income, other than retirees and social care, and this means that there is no Iraqi family that does not benefit from government income, and thus it is a moral and humanitarian issue, and one of the social constants."
    Saleh pointed out that "there is a government hedge, according to Law No. 13 of the budget, and this law hedges against any economic crisis, but the deficit is hypothetical, and it does not necessarily happen, but it gives flexibility to financial liquidity in securing assumptions or things, to confront external clashes, or crises that may occur here and there."
    The Iraqi general budget tables for the year 2024 faced objections and controversy due to the reduction of the investment budget for the 15 governorates that do not belong to a region, after the federal government approved them .
    In June of last year, Parliament approved the country's draft general budget law for three years from 2023 to 2025, with a total value of 199 trillion dinars ($459 billion) .
    According to data published by the Iraqi government, investment allocations for non-regional governorates in the 2024 budget decreased from 9.6 trillion dinars in the 2023 budget to three trillion dinars, despite an increase in the budget value over last year by 12 trillion dinars according to an exchange rate of 1,300 dinars to the dollar .
    In response to the objections to the general budget tables, the Ministry of Planning said that what was allocated for the projects of the federal ministries that are being implemented in the governorates, except for the Kurdistan Region, amounted to 38.421 trillion dinars, so that the total amounts available to the governorates became 41.524 trillion dinars .
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