KTFA: Clare: Financial Expert: Issuance Of A Late Budget Law Is Better Than The End Of The Fiscal Year Without It
Baghdad – The financial expert, the financial advisor for the Prime Minister, Madhar Muhammad Salih, confirmed that “issuing a late budget law is better than the end of the fiscal year without it.”
He told the National Iraqi News Agency (NINA) that the availability of the appropriate atmosphere is necessary for approving the general budget, even if its issuance was late.
Salih added: Issuing a budget law is better than the end of the fiscal year, which is empty without a general budget.
The state budget law was supposed to be approved at the beginning of this year.
Tivon: Sorry buddy, doesn’t look like that is happening. Because by the time they get around to it Al-Kazemi would have already addressed all outstanding issues concerning the citizens. Which will make him a political juggernaut in the eyes of the international world and his supporters. There is no way Al-Kazemi will leave his people out to dry waiting for another GOI to get their act together and stall laws, projects, and investments with political sectarianism. Which is why we have the EFSL to begin with. IMO
Popeye7: Imo, you are right Tivon… Why bother when fiscal year 2023 is needing to be addressed now… The Emergency Food Law will be more than adequate to take care of what is necessary… Salih has been making some rather unsound statements during the coarse of this last year.. When in the past that has not been case… Is he being used as a decoy to throw off Kazemi’s enemies within parliament?… Because in the past Salih’s advise, and suggestions were very wise, and made sense… He has been somewhat off this year Imo…
Tivon: The volume in which he has been stating his opinions on the strategies as to what is feasible for Al-Kazemi were off & on. Especially when he stated how they need to wait for this and that to address the USD exchange rate.
So I would not be surprised that he is running interference for Al-Kazemi to throw off the scent of his opposition to hide what is really happening. Because the system they reference as to how to go about addressing the rate is no longer viable or application
. Which is why the digital economy is taking shape from the BUNA, AYSCUDA, Blockchain, etc. These are platforms that can handle high volume trade with no issues regardless of the capital flow. This is what the Federal Reserve even addressed in their reports not to long ago.
The more information I read about the new platforms the more the CBI makes sense. They are ready to do something new and modern. Which is why I read these articles with a keen eye because there are layers seen and unseen that need to be brought up to make sense of the jargon at times. IMO
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MilitiaMan: There seems to be more to this story as well as others. There are I see varied thoughts on this today topic too from others. From my perspective, for Salih to be talking about things that he should know quite well, is not to be lost or put off on his potential of poor work and or misleading view points under the present conditions the country and Kahdimi are under. Kahdimi would know if this guy was off his rocker or not. If so and he is, it would be unlike Kahdimi to allow mis direction from him or at least have counter to it.
From the looks of it he is stating that it is better to have a late budget over not at all or into next year. Salih suggests there needs to be an appropriate atmosphere and it is necessary for approving the budget.
Well, if we look at previous writings there is an atmosphere that supports a budget could be placed possible now even if it is late, as late is better than never or next year. He notes that rising oil prices have a positive factor for Iraq’s economy. There is a surplus in the current account of payments and a surplus in the country’s financial budget.
He states that the surplus will remain a reserve for Iraq outside the EFSL and outside the 2019 FML, presumably. Everything that is not spent is placed into a precautionary reserve account which is usually a sovereign fund that establishes sustainability of the budget in the future. That reserve is for development and investment purposes.
We all know there is far more revenues that are not talked about above, but, they are out there. For instance, the border customs, fees, taxes, tariffs, etc.. Add them into the atmosphere and economically the air is clear.
So, is there anything else that may be in parallel with the financial side of things? Surely, there is the political side of things that are on a side track moving along with the reform efforts.
They have not seated a government for about 10 months now. That is out side of their constitution.
The present government is the tripartite if you will at present and have been running the show and have been quite capable in doing so. We did see deals being made, contracts being signed with countries, entities, contractors, etc.. That Total deal was $27 billion USD. That is a big deal.
There would have had to been assurances between the PM, FM, CBI, etc.., for that the political side of things would be legal for to have concluded the contracts.
That said, there could be an easy fix for this and it may all hinge on a few things that may have been worked out in advance, yet, not yet exposed in totality.
One is that at present the government has shown that they can use the necessary powers to get things done. They may even be able to exercise similar powers to get through the impasse politically or they vote the president and the PM in and in short order.
There is a meeting with Parliament and the Ministry of Justice tomorrow, if I am not mistaken.. Will that have anything to do with legalities to budgetary items, legalities to constitutional issues, issues with Maliki, etc.? They didn’t say, but they did refer to about 20 items being on the table..
The advisor to the PM suggest the atmosphere is good from that way I see it. He states there can be a budget out side of the EFSL and FML, as there are monies not spent and that getting a budget out now is better than later.
I look forward to seeing what they do next.. imo It could be very powerful.. imo.. ~ MM.
