Economist: We are experiencing a good financial year and the rise in salary expenses must be reconsidered, 23 MAY

  Economist: We are experiencing a good financial year and the rise in salary expenses must be reconsidered

The economic expert, Safwan Qusay, considered Iraq’s fiscal year “good,” while stressing the need to reconsider the rise in salary expenses.

Qusay said, during his hosting of the program {Free Speech} broadcast by Al-Furat satellite channel this evening, that: “

The process of implementing the program of the government of Muhammad Shiaa Al-Sudani requires {operational and investment} spending, and there are priorities voted on by Parliament, and it is held accountable for achieving these goals, so the process of allocating financial allocations To achieve these goals, it requires scientific foundations and program costs. So far, the issue is items, not programs, costs, accounting, and the establishment of a unified treasury in order not to wait for schedules, and in order for it not to be repeated in 2025.

The government is required to set estimates by establishing a unified treasury and spending and collection units on a daily basis
Parliament is one case, as they both seek to achieve their goals.

- We are facing a good year, considering that oil prices are above $70, and zero oil and other imports will contribute to reducing expenses and increasing revenues.

- The government is seeking to establish investment projects parallel to oil revenues, and the increase in salary spending needs to be restored Consider

-The timetable determines the mechanism for disbursing expenditures as it tries to move from items to programs -
Government achievements for the year 2024 can raise cash revenues

- Federal ministries must be coherent and complementary to one another, as increasing non-oil revenues enhances the value of the dinar. Iraqi, and the need to reconsider the nature of contracts with foreign companies.

-International prices change, so if the financial foundations are understood by the government, it can certainly change them.

The Ministry of Finance is required to assume that the project that it cannot finance is a source of income that is subject to investment.  link