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Delayed adoption of the budget hinders economic development
 

4/23/2014 0:00

After the cessation of new investment projects
BAGHDAD - Farah pumice - Mustafa al-Hashemi
Is still the question of approving the budget at a standstill in the corridors of Parliament because of political differences on them , which called experts and specialists and officials in the state to raise the warning to an unprecedented level , especially as the delay is threatening economic growth in Iraq, with the cessation of new investment projects , which may reflected negatively on the public life of the Iraqi citizen .

Launch allocations

In this regard , confirms a member of the Economic Commission MP Amer winner »Sabah » that the delay in approving the budget will lead to weakness in the completion and implementation of projects , particularly in the services will meet the ambitious , especially it ( the budget ) will take a certain time to when approved and then launch financial allocations ministries and local governments , warning at the same time that in the case did not constitute a quorum after the election , the budget would be stalled for acknowledgment until the formation of the new parliament .

He called on the winner of all members of the House that they are as far as national responsibility and concern for the public approving the budget because it is related to Bakot citizen and economic profile of the country because of their impact on the completion of service projects and projects of other sectors .

The head of the advisers in the Council of Ministers Thamer Ghadban has warned that the country was in front of a problem because of the failure to approve the budget , saying that the lack of approval will affect the growth of the Iraqi economy and growth projects , especially as the real problem lies in the new investment projects .

It also saw the consultant Industrial Development and Investment Amer Jeweler that the reflection delay budget is too large for the country's economy , especially the completion of infrastructure projects that are in contact with the citizen's life , whether near or far , noting that the predecessor financial delayed arrival of the contractors responsible for the completion of those projects , either in borrowed case , there is no guarantee repayment period , so many plays for the completion of work out .

He said the jeweler that all ongoing projects and related with each suffering from the reluctance of what leads to the delay of the project as a whole , that is, they connected with each other, and this leads to a delay in improving the working environment and services , as well as the deterioration in the behavioral work leads to operations diaspora new uncalculated , he said.

Cash crisis

The parliamentary Finance Committee has warned of a crisis of cash in the country as a result of a failure to approve the budget , according to committee member Rep. Dler Abdelkader .

Abdul Kadir said in a press statement : « delay in approving the budget for 2014 will affect the overall economic situation in the country , both in terms of higher inflation or increase the exchange rate of the dinar against the dollar or stop the wheel of development » .

It also confirmed a member of the Committee MP Magda Abdel-Latif al-Tamimi, the impossibility of implementing any project during the remaining period of the current year , even if approved budget , arguing that the remaining duration of any party impossible to implement even a small part of the project, which will begin doing.

Negative effects

In the meantime , he saw the head of the Advisory Board of the Baghdad Chamber of Commerce Hamid al-Hamdani said the implications of delay in approving the budget is too large on the national economy , considering one of the reasons for the delay is a method of preparation and planning and not give the economic file , including the great importance .
And between Hamdani that public budgets since 2003 and until this year has seen a lot of differences , and therefore it has impacted negatively on the completion of a lot of service projects , pointing out that the preparation of the budget does not take the actual situation of the public on the ground into account.

Serious indicators

A study seen by the «morning » to an imbalance in the structure of the general budget was reflected clearly in the disruption of the structure of exports , as he appeared clearly through gross domestic product , which constitutes the oil sector where the largest percentage , particularly that Iraq is a capacity resource base of economic , whether natural them or diverse human , and despite the abundance of these resources , it has suffered from the problems of real economic , such as unemployment , inflation , the imbalance in the structure of production , because of the reliance for decades on crude oil , as it is still Iraq, despite the sheer size of its budget lacks the fiscal policy in the true sense able to address those imbalances .
As revealed Aldrashan Survey Report Open Budget (OBI) for the year 2010 , to bringing Iraq ranks low on the subject of budget transparency , recalling the report mentioned that the Open Budget Index for Iraq for the year 2010 was ( zero ) , but he has made a significant change in the survey year 2012 , rising index mentioned to (4) , and this means that the data and information are becoming more susceptible to the public , but it is still little information about the process of preparing and planning the budget , which earned them possess and express their opinions in giving economic file the largest proportion within the allocations of the general budget of the country , as well as the activation of important sectors which supports the GDP .

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