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Al-Kazemi’s advisor determines two directions for spending the expenses of the surplus oil prices in the budget
Economie Yesterday, 20:03
Baghdad - conscious - Nassar al-Hajj
Today, Tuesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified two directions for disbursing the expenses obtained from increasing oil revenues due to the increase in oil prices globally in the 2022 budget, while stressing that 3 areas will be given priority.
Saleh said in a statement to the Iraqi News Agency (INA), that "the expenditures obtained from the growing revenues from oil revenues will be spent on a budget with an expansionary pattern in two directions, and the priority will be for three areas: the poor classes, food security and income-generating investment projects."
He added, "The first trend goes towards strengthening operational spending towards addressing the problems of poverty and poor classes, especially by supporting social welfare programs to include in their ranks the poorest segments to be integrated into the social welfare programme, in addition to expanding the ration card work program and supporting grain producers for the purposes of food security.".
He added, "The other direction will be a shift towards income-generating investment projects that operate with productive packages within strong investment payments."
He pointed out that "this will be evident in the budget law for the year 2022, and the preparation of the 2023 budget, in order to maintain sustainable economic growth that exceeds population growth and enhances job opportunities and prosperity in the national economy."
Earlier, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, set a condition for depositing the financial surplus in a sovereign fund, while indicating that spending on social spending and addressing poverty will be a priority.
Salih told the Iraqi News Agency (INA): "Based on the text of Article 19 / Second of the amended Federal Financial Management Law No. 6 of 2019,
if the actual revenues exceed the total expenses or expenditures, including financing the planned deficit in the annual budget, the surplus amount is deposited In a (sovereign fund) provided that a budget law is available,
otherwise the said financial surpluses will be deposited in a reserve account and will undoubtedly be an opening balance in financing the federal general budget for the year 2023 in whole or in part and according to the exchange sections and its future priorities.
He added, "Spending on social spending and addressing poverty will be the first priority,
in addition to making it easier with the investment spending associated with the implementation of strategic projects that operate work and inevitably generate income."
Al-Kazemi’s advisor determines two directions for spending the expenses of the surplus oil prices in the budget
Economie Yesterday, 20:03
Baghdad - conscious - Nassar al-Hajj
Today, Tuesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified two directions for disbursing the expenses obtained from increasing oil revenues due to the increase in oil prices globally in the 2022 budget, while stressing that 3 areas will be given priority.
Saleh said in a statement to the Iraqi News Agency (INA), that "the expenditures obtained from the growing revenues from oil revenues will be spent on a budget with an expansionary pattern in two directions, and the priority will be for three areas: the poor classes, food security and income-generating investment projects."
He added, "The first trend goes towards strengthening operational spending towards addressing the problems of poverty and poor classes, especially by supporting social welfare programs to include in their ranks the poorest segments to be integrated into the social welfare programme, in addition to expanding the ration card work program and supporting grain producers for the purposes of food security.".
He added, "The other direction will be a shift towards income-generating investment projects that operate with productive packages within strong investment payments."
He pointed out that "this will be evident in the budget law for the year 2022, and the preparation of the 2023 budget, in order to maintain sustainable economic growth that exceeds population growth and enhances job opportunities and prosperity in the national economy."
Earlier, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, set a condition for depositing the financial surplus in a sovereign fund, while indicating that spending on social spending and addressing poverty will be a priority.
Salih told the Iraqi News Agency (INA): "Based on the text of Article 19 / Second of the amended Federal Financial Management Law No. 6 of 2019,
if the actual revenues exceed the total expenses or expenditures, including financing the planned deficit in the annual budget, the surplus amount is deposited In a (sovereign fund) provided that a budget law is available,
otherwise the said financial surpluses will be deposited in a reserve account and will undoubtedly be an opening balance in financing the federal general budget for the year 2023 in whole or in part and according to the exchange sections and its future priorities.
He added, "Spending on social spending and addressing poverty will be the first priority,
in addition to making it easier with the investment spending associated with the implementation of strategic projects that operate work and inevitably generate income."
