Al-Kazemi’s Advisor Reveals The Fate Of The Federal Budget And The White Paper

Al-Kazemi’s Advisor Reveals The Fate Of The Federal Budget And The White Paper

25/08/2022

Al-Kazemis Advisor Reveals The Fate Of The Federal Budget And The White PaperEarth News/ Mazhar Muhammad Salih, the economic and financial advisor to the Prime Minister, revealed today, Thursday, the fate of the federal budget and the white paper.

Saleh told Earth News, “With regard to the Emergency Food Security and Development Law No. 2 of 2022, this law is effective until all its allocations are exhausted, but the truth is that when announcing any budget, the remnants of this law’s allocations and goals will be among the objectives of the next federal budget.

He explained that “the budget is the largest financial tool and the largest financial document and is second to none, so the rest of the allocations will be within the federal general budget, and thus the emergency law ends definitely.”

He continued, “With regard to the white paper that was adopted at the end of the summer of 2020, it needs appropriate and stable conditions financially, economically and politically to work with, indicating that the white paper established a path, but it achieved perhaps simple things, but it established financial reform and the establishment of financial sustainability and established sustainable development, and certainly it is a project or A paper for reform is inevitable that any future government will add something to it, but it will be the basis for economic reform in Iraq.

And Saleh indicated that “the time specified for three years is not enough, in my opinion, it needs a longer period, that is, double this period, but it is in any case a card that the Iraqi governments can count on for the prosperity and stability of Iraq financially and economically.”

He continued, “There is a legitimate question; Does the Ministry of Finance have the ability to prepare a budget upon request in a future government, for example, or for the remainder of this year when appropriate legislative conditions are created? The answer is yes, according to the effective Financial Management Law No. 6 of 2019, the amended, the Ministry of Finance, through the Budget Strategy Committee, undertakes the preparation of the general budget for the month of July of each year and ends in September with the financial policy document with the macroeconomic strategy for the next three years.

He pointed out that “these are all prepared in truth and under demand, and when appropriate legislative conditions are available, they are submitted to the legislative authority through the executive authority, of course, to legislate a budget law with the possibility of making some amendments or some changes, but the basis is present and present for legislation at any time.

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