Al-Marsoumi warns of the delay in approving the budget.. The economic viability will be lost
Al-Marsoumi warns of the delay in approving the budget.. The economic viability will be lost
3-29-2023
Information / special.
Economist Nabil Al-Marsoumi warned, on Wednesday, of the serious repercussions of the suspension of the general budget law, while stressing that it will lose its economic value if the suspension continues for the coming months.
Al-Marsoumi said in an interview with Al-Information Agency, that “a further delay in the budget will result in a weak budget that will fail to translate the planned government curriculum, and become an annual text,” noting that “the budget that was sent to the House of Representatives needs a lot of work because it is neither complete nor It contains zero tables and the expenses and revenues that represent the project summary.
And he continued, “The budget has not yet reached the parliamentary committees, and this indicates the existence of many differences over its approval,” pointing out that “it still suffers from the problems of the oil-producing provinces, in addition to the large deficit, which is considered historical for all of Iraq’s previous budgets.”
And he added, “The file of the price of a barrel of oil is considered one of the major obstacles as a result of its rise in relation to global oil prices, which fluctuated during this period,” noting that “the Federal Court’s decision will undermine Iraq’s oil revenues due to the presence of half a million barrels outside the framework of the budget, including 400 thousand barrels from Kurdistan.” 100,000 barrels from Kirkuk.
And Al-Marsoumi concluded his speech: “The current budget is considered one of the most delayed budgets in the history of Iraq, and if it is approved after the sixth month, it will be of little effectiveness and its positive impact on the Iraqi economy will be low.”
This was a member of the Parliamentary Finance Committee, Mustafa Al-Karawi, who was accused, in an interview with Al-Maaloumah Agency, that “Parliament Speaker Muhammad Al-Halbousi has monopolized power and decisions, while he confirmed that the budget is in Al-Halbousi’s private office and is discussed by members of his office and advisors before sending it to the relevant committees.”
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