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Jan 11 2012
Delay in Approving the Budget, the Financial Detriment of the Economy of Iraq
BAGHDAD – Babinaoz (Reuters) – MPs called on the Finance Committee and the parliamentary economists to resolve all political differences to accelerate the adoption of the budget because the delay will hurt the financial strategy projects and the Iraqi citizen.
They explained: “The lack of release of financial allocations to the ministries and provinces their time specified will affect negatively on the implementation of important projects investment in the country and stop the rotation of the economic wheel.”
For her part, member of the Finance Committee and MP for the National Alliance Majida al-Tamimi said that political differences occurring in the country will directly impact on the adoption of the budget, because they need a quorum in the session, the House of Representatives for the purpose of discussion and give the views of all the political blocs, and any interruption or failure to attend the meetings of the House of Representatives will result in delayed approval this year.
Showed Tamimi, “The late adoption of the budget will affect negatively on the implementation of all strategic projects and investment to the country, especially since the release of funds take a long time originally, in the sense that when voting on the budget then will be approved by the House of Representatives and published in the Official Gazette and will then be the launch of the financial allocations by the Ministry of Finance. “
While the excluded member of the Finance Committee and MP for the Kurdistan Alliance Najiba Najib vote on the budget if the political situation remained as it is now, and the Iraqi provinces will be the most affected in case of delay approval.
Said Najib “The political conflict if it continues in the country will lead to a delay in adoption of many important laws that the political blocs are representative of the people, pointing out: that the financial budget for the current year can not be approved without the presence of all the political blocs, because each block has applications like by placing them in the draft budget to the benefit of being representatives of their constituents, hoping to resolve the outstanding political problems in order to serve the people and nation-building.
While a member of the Finance Committee considered and the representative of the coalition in Iraq Ibrahim al-Mutlaq, that the delay in adoption of the budget would hurt the process of implementing investment projects in the country being dependent primarily on the money, and when the adoption of the budget is delayed and the launch of the financial allocations, there will be a direct impact on the implementation of projects in the country.
The al-Mutlaq, “The coalition in Iraq is not with the delayed adoption of the budget but with the speed up the approval and release of financial allocations early.” And between: The county coalition for the Council of Ministers and Parliament is the expression of the position of Iraq about the federal government for the benefit of the Iraqi citizens as a result of poor service and poor security situation in the country.
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Delay in Approving the Budget, the Financial Detriment of the Economy of Iraq
BAGHDAD – Babinaoz (Reuters) – MPs called on the Finance Committee and the parliamentary economists to resolve all political differences to accelerate the adoption of the budget because the delay will hurt the financial strategy projects and the Iraqi citizen.
They explained: “The lack of release of financial allocations to the ministries and provinces their time specified will affect negatively on the implementation of important projects investment in the country and stop the rotation of the economic wheel.”
For her part, member of the Finance Committee and MP for the National Alliance Majida al-Tamimi said that political differences occurring in the country will directly impact on the adoption of the budget, because they need a quorum in the session, the House of Representatives for the purpose of discussion and give the views of all the political blocs, and any interruption or failure to attend the meetings of the House of Representatives will result in delayed approval this year.
Showed Tamimi, “The late adoption of the budget will affect negatively on the implementation of all strategic projects and investment to the country, especially since the release of funds take a long time originally, in the sense that when voting on the budget then will be approved by the House of Representatives and published in the Official Gazette and will then be the launch of the financial allocations by the Ministry of Finance. “
While the excluded member of the Finance Committee and MP for the Kurdistan Alliance Najiba Najib vote on the budget if the political situation remained as it is now, and the Iraqi provinces will be the most affected in case of delay approval.
Said Najib “The political conflict if it continues in the country will lead to a delay in adoption of many important laws that the political blocs are representative of the people, pointing out: that the financial budget for the current year can not be approved without the presence of all the political blocs, because each block has applications like by placing them in the draft budget to the benefit of being representatives of their constituents, hoping to resolve the outstanding political problems in order to serve the people and nation-building.
While a member of the Finance Committee considered and the representative of the coalition in Iraq Ibrahim al-Mutlaq, that the delay in adoption of the budget would hurt the process of implementing investment projects in the country being dependent primarily on the money, and when the adoption of the budget is delayed and the launch of the financial allocations, there will be a direct impact on the implementation of projects in the country.
The al-Mutlaq, “The coalition in Iraq is not with the delayed adoption of the budget but with the speed up the approval and release of financial allocations early.” And between: The county coalition for the Council of Ministers and Parliament is the expression of the position of Iraq about the federal government for the benefit of the Iraqi citizens as a result of poor service and poor security situation in the country.
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