Economist: delay in approving the budget would increase the financial benefits to the Iraqi government
Economist: delay in approving the budget would increase the financial benefits to the Iraqi government
Tuesday, July 8th, 2014 12:54
BAGHDAD / Baghdadi News … He is an economist, on Tuesday, said the delay in approving the budget will cause a delay of the completion of all development projects that Iraq needs for the advancement of the Iraqi economy, noting that the delay in projects that could lead to the accumulation of financial benefits to the Iraqi government.
The economist said Dergham Mohammed Ali told / Baghdadi News / “The delay in approving the budget, the federal cause of obstructing the implementation of all development projects that enrich the Iraqi economy,” noting that “there are a lot of foreign companies operating in Iraq will demand the benefits of finance in the event of delay in delivery Iraqi government for their financial dues. ”
He added that “the delay in delivery of the Iraqi government to dues major companies in Iraq would increase the debt owed by the Iraqi government on the grounds that some of the companies operating in Iraq and put some of the items in the contracts that allow them to claim the coupon in the event of a financial delay in the receipt of dues.”
He explained that “the delay in approving the budget would cut the amount of cash in Iraqi banks”, ruling that “this delay affect the exchange rate of the dollar.”
He stated that “the movement of the Iraqi market will develop other is stagnant because the government is spending the most on the market through the movement of state purchases of materials that you need in investment projects.”
“The integration of the current year budget with the budget next year would cause confusion in the plans and economic strategies that Iraq seeks to implement because of inflation in the amount of projects compared to the low level of work and blurred vision uncertainty that next year’s budget will be approved in time and may not recognize the mid- next year, “and urged” the need to be there are laws and mechanisms to oblige stakeholders approving the budget in a timely constitutional prevent Iraq in a serious economic slide. “ended up 21 / j
albaghdadianews.com
