The financial and economic expert, Safwan Qusay, confirmed that an investment budget at a rate of 48 trillion dinars will contribute to achieve more than 600 service programs.
Qusay said in a statement to the Iraqi National News Agency (NINA): “Passing the budget for three years means that the government has estimated the level of spending for the next three years at a rate of $450 billion, of which $300 billion will go to consumer items such as employee dues and other items,” noting: The process of regulating the relationship between the ability of the Iraqi private sector and the public sector to meet the requirements of employees and retirees will contribute to mobilize the private sector and expand its circle of activity to meet local consumption.
He added: “The draft budget and monitoring public spending through an integrated administrative financial system can monitor spending management, whether in the governorates or Baghdad, through a unified electronic system, will contribute to the possibility of tracking the movement of these funds, preventing cases of corruption from appearing, and achieving the government program.”
The economist indicated that “an investment budget at a rate of 48 trillion will contribute to achieve more than 600 service programs,” indicating that “each ministry has included its service projects within the government’s priorities and funded them within clear contracts from parties that can organize projects on the ground, which will contribute to change the form of government performance, given that the government can rehabilitate service units and make them productive to create an appropriate revenues for government institutions.
He stressed the need to draw up an accurate three-year economic map to guide investors that there are opportunities for growth in all sectors, and to identify investment opportunities towards these opportunities.
At dawn today, Monday, the House of Representatives voted on the general budget for the next three years.
Source: National Iraqi News Agency