Parliament finances show the negative effects that will arise as a result of not approving the budget
Parliament finances show the negative effects that will arise as a result of not approving the budget
9-5-2022
Information/Baghdad..
Member of the Finance Committee, Representative Jamal Kougar, stated, on Monday, the negative effects that will arise as a result of approving the state’s general budget, indicating that the adoption of an emergency law is not a solution, but rather a patchwork measure, and its money may be subject to partisan and factional interests.
Cougar said in a statement to “Information”, that “the surplus funds achieved during the first half of this year, according to the reports of the Central Bank and the Ministry of Finance, amounted to 22 billion dollars, and this is of course a large amount, not to mention the surplus funds for the second half of last year.”
He added, “These funds may be eroded as a result of the suspension of many projects and the disruption and extinction of many mechanisms and projects as a result of the lack of funds necessary to maintain and sustain them. Therefore, we will resort to replacing them, and it will cost us billions of dollars, especially with regard to the ministries of electricity and defense.”
He added, “Among the negative effects of not approving the budget, all projects will stop and create a state of economic stagnation due to the failure to pump financial liquidity into the market,” noting that “even if an emergency law was resorted to, as happened previously, it is not a solution, but rather a patchwork procedure, and perhaps it will be His money is subject to partisan and factional interests.
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