Adviser Saleh: The 2022 Budget Is Expansionary And Includes Two Types Of Spending

Adviser Saleh: The 2022 Budget Is Expansionary And Includes Two Types Of Spending


Adviser Saleh - The 2022 Budget Is Expansionary And Includes Two Types Of SpendingEarth News/ The economic advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Thursday, that the current year’s budget will be expansionary, while noting that there are two types of spending in it.

Saleh told Earth News, “The draft general budget law for 2022 is still a non-final draft and is not presented to Parliament or the government until the present time, and the oil market developments are significant,” noting that “there are repercussions of this rise on the emergency law for food security and development, the law for security.” food and development”.

He added, “It is certain that the price of a barrel is not 45 dollars, as stated in the 2021 budget. It may be double this price or less than it, with precaution and reservation,” explaining that “if the general budget for 2022 is presented, it will be with a simple hypothetical deficit in my estimation, which constitutes only 30 Or 35% of the hypothetical deficit in the 2021 budget, with definitely higher ceilings.”

And the economic advisor continued, “Due to the financial abundance achieved, I expect the ceiling of the 2022 budget will be higher than the ceiling of the 2021 budget by a percentage that may approach 40 to 50 percent,” noting that “this abundance will certainly go to two types of spending; The first spending is the social spending, which, as stated in the text of the emergency food security project, and the second spending is on major strategic development projects that employ employment and generate income.

Saleh expected that “the directions for the 2022 budget, if approved, will be an expansionary budget with a lower deficit and in areas that affect development and employment more and are proportional to a growth rate that exceeds the population growth rate by double the rate completely.”

It is noteworthy that the year 2022 did not approve its budget, due to the parliamentary elections that Iraq witnessed at the end of last year and the subsequent blockage in the political process due to the difference in opinion between the bloc about the mechanism of forming the government.