Today, Sunday, Dr. Abdul Rahman Al-Mashhadani, an economic expert, disclosed the primary reasons for not announcing the 2023 budget yet, predicting a worldwide economic catastrophe next year and predicting that, despite rising oil prices, the year 2024 would be challenging.
“Not releasing the budget is not for fear of it being exploited electorally,” Al-Mashhadani said exclusively to Jarida, “because the political blocs do not need a budget, as they have food security law money, and they also have supporters from merchants and businessmen, so the basic political blocs have power.” And funds and assistance from domestic, foreign, and commercial entities.”
“The government’s vision announced by the Prime Minister is that the disbursement is based on the revenues generated, but the revenues generated cover operational expenses only,” he added, adding that “in official statements it was stated that the Kurdistan region’s share is greater than its entitlement, because the disbursement is based on the revenues generated, and not on the basis of budget allocations.”
“Also, the Prime Minister wants to spend the year 2023 with the bare minimum of disbursements as long as the budget is delayed,” he said. As a result, the government’s tenure will be limited to two years. He does not want to borrow from the Central Bank and squander the surplus resources, which are 23 trillion from last year, but rather to save it or use it as an initial entrance for 2024.”
“Because the year 2024 will not be as easy as expected,” he explained, “even though oil prices have begun to rise to record levels, but all expectations still point to a global economic crisis in 2024, so this hedging and austerity that they are following by delaying the approval of the budget may be the main reason for saving.” Funds and resources are accessible till the next year.