Next year’s budget will see an “increase” in the operational side estimated at “five billion dollars” and a deficit of six billion dollars ..!
Next year’s budget will see an “increase” in the operational side estimated at “five billion dollars” and a deficit of six billion dollars ..!
Tuesday October 26 , 2019 second time 11:19
Baghdad / Sky Press
International media revealed that next year’s budget, which the Finance Committee held 20 meetings with the Ministry of Finance to discuss its law, will witness a steady increase in the operational aspect of “compensation and salaries”, estimated at 60 trillion dinars, approximately $ 5 billion compared to 2019. It will record a deficit of 72 trillion dinars, approximately $ 6 billion, which will reduce it to 45 trillion dinars, approximately $ 3.8 billion, by reducing spending and maximizing resources. These figures are seen by sources in the parliamentary finance committee as the worst in history, considering them to be a setback in economic reality. The sources pointed out that the current government has followed a fiscal policy did not take into account the planning or know-how in the disbursement of funds, sorry for the worsening of the federal budget deficit for the next year, largely because of reform packages launched by the government and parliament.
For his part, economist Manar al-Obeidi, described the reforms as interim reforms, aimed at gaining as much time as possible in dealing with the protests, and cautioned that their negative consequences will appear in the near future and attributed the escalating protests in the country to the economic system dependent on wealth Oil, without focusing on the private sector to provide jobs for youth, whose unemployment rate is about 11%, while 22% of Iraqis live below the poverty line, according to World Bank estimates. Obeidi believes that the solution lies in determining the economic model that Iraq wants to adopt a socialist or capitalist, stressing the need to operate factories stalled since 2003, and draw up long-term strategic plans. The legal expert, Tarek Harb, in turn, recalled that successive governments did not implement laws that had to be enforced, starting from the Constitution that must be observed, and did not work to preserve public money and achieve justice and equality between people, calling for the enactment of investment laws to provide an attractive investment environment To capital from inside and outside Iraq.
Abdul Mahdi’s government has benefited from this year’s emergency reserves by more than two trillion Iraqi dinars (US $ 1.7 billion) to secure monthly grants for the unemployed, appoint high-caliber graduates, and return the contracts of the 154,000 members of the defense and interior ministries. At the same time, the government is trying to save expenses in the budget next year for the construction of low-cost housing units, after issuing a decision to address 90% of the worsening housing crisis in the country, which by the way is one of the most important motives of the popular movement, with the task of the ministries of reconstruction and housing, municipalities and works Public, and financial. The first is entrusted with the creation of suitable areas, and the identification of categories covered by the distribution of residential land, while the second will lend the housing funds necessary for the construction of infrastructure, provided that the amounts are collected from the eligible. 33,000 housing units (990 billion dinars ($ 825 million)) are to be built, each paid (30 million dinars / 25,000 dollars) at $ 105 per month over 20 years. These units will be distributed among the 18 governorates of Iraq, with 8,000 housing units for Baghdad, the same for Basra, 4,000 for Nineveh, 2,000 for Dhi Qar, and 1,000 for the rest of the provinces.
Although reformist promises, especially those relating to housing, have been addressed in detail and not limited to public headlines, as shown in advance, uncertainty continues to be damaged by the fragility of confidence that they can be achieved.
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