Al-Kadhimi ’s advisor determines the average revenue for 2022 and the expected reserve

Baghdad - INA 

Advisor to the Prime Minister, Mazhar Muhammad Salih, set today, Thursday, the average oil revenues for the current world 2022, while he expected the financial reserve to reach 40 billion dollars in the event that the current fiscal year ends without enacting a budget law.

Salih told the Iraqi News Agency (INA), that "it is not possible to pass any law by the government before the executive authority completes its constitutional entity according to the results of the 10-10-2021 elections.".

He added, "The recent Federal Court decision cut off the way even for the House of Representatives itself in discussing any bill unless it is passed in accordance with the constitutional contexts, and from a government that is produced by the election results.".

He pointed out that "the caretaker government will work hard to support Iraq's food security through the financial actions available to it as determined by the current Financial Management Law No. 6 of 2019, the amended, until the legislation of the Federal General Budget Law for the year 2022 in accordance with the constitutional paths that do not conflict with the federal court's decision.

Salih added that "the annual government spending in the general budget constitutes nearly half of the gross domestic product, which means that economic activity depends in its greatest weight on government spending," noting that "the most important in total government spending is the investment part of the spending that drives the demand for market resources." Productivity, specifically the labor market and human skills, which at the same time increases the growth of national income through mechanisms called (the economic accelerator).