Economist to / Nina /: Failure to approve the budget for the current year will cause the non-implementation of any investment projects

Sunday 22 May 2022 10:31
 
Baghdad / NINA / - The expert in the economic affairs, Malaz Al-Amin, confirmed that the lack of approval of the budget for the current year will cause the non-implementation of any investment projects due to the lack of financial allocation, which will negatively affect the poor classes.

Al-Amin said in a statement to / NINA / that “the delay in approving the budget will cause the government not to start implementing investment projects of interest to the future of the country, because according to the Financial Management Law, which stipulates spending every month on a monthly basis according to last year’s budget program, meaning that these monthly funds are It will not suffice to initiate the implementation of large investment projects."

He added: "As it is known, the budgets consist of two basic parts, the operating budget covered by the law, and the investment budget, which depends on approving the general budget within timings that are required to be submitted by the government with full authority to the President of the Republic, who in turn submits it to the House of Representatives for discussion and approval, to be returned according to the first ladder toward implementation".

He stressed that "the lack of approval of the budget for the current year will cause the non-implementation of any investment projects due to the lack of financial allocation, which will reflect negatively on the poor classes due to the lack of new spaces for work due to the lack of modern projects that attract new workers, as the budget in the event of its failure will cause an increase in unemployment areas and delays." In the growth of the economic sectors in the fields of agriculture and industry, followed by other sectors such as trade, transport and others, which requires political leaders to speed up the formation of the government to avoid delays in implementing important strategic projects that serve future generations.

He added, "Financial budgets are the main tool for achieving the state's public policies within one year, whether economic, social, or service, and they are a presentation of the government's annual plans and programs, which it prepares in response to current challenges and drawing new future policies." / End 8

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It seems like most people are under the impression that the upper/ruling class in Iraq give two shits about the underlings, especially if they are not of the same religious sect. 

Sunni, Shiite, Kurd, Persians, Kawliya, Armenians, Mandeans, Shabakis, and Circassians. Then throw in the Baath party and hilarity ensues. 

Iraq needs another strong arm to force these groups to cooperate, otherwise they never will.