How will the 2022 budget be .. The Prime Minister’s financial advisor answers?
How will the 2022 budget be .. The Prime Minister’s financial advisor answers?
06-04-2021 09:54 AM
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, expected today, Thursday, that the federal general budget for the fiscal year 2022 will be different from the current year’s budget by two paragraphs.
Saleh said, “The draft federal general budget for 2022, in my opinion, will differ slightly from the budget for the current year 2021 in two paragraphs. The first relates to the nature of oil revenues, as the price of a barrel of oil and the exported quantities must be adjusted in light of the positive indicators in the energy market and the entry of the economy.” The global stage (after the Corona pandemic), especially the high degrees of international economic openness, the flourishing of trade and investment exchange between the countries of the world, and the high overall growth rates in the global economy.
He added, “There is a strong link between the escalation of economic growth in the world and the escalating demand for crude oil, the boom in energy markets and the rise in oil prices.”
He continued: “As for the second paragraph, it is that the draft general budget for the coming year will reduce the borrowing space at the lowest point, while the area of investment projects and their allocations will expand significantly and according to development priorities, which will lead to better growth and overall employment in the national economy, especially the high contribution The market is in the movement of the economy due to the high state of certainty that will be available to market makers,” explaining that “this is due to the market’s dependence on recovery indicators in the government economy.”
And he added: “Despite the foregoing, the issue of submitting the draft federal budget to take its legislative path will remain a primary concern and according to its constitutional timings, subject to the speedy formation of Parliament after the tenth month’s elections. New Elect.
He explained, “Otherwise, entering the year 2022, without legislating the general budget law, will make the public finance resort to the application of the effective financial management law, through disbursement of 12/1 of the actual ongoing expenditures in the 2021 budget without new investment projects.”
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