Economist Opinion: Ministry of Finance should start 2014 budget now to avoid errors from the past

Posted by on Oct 26, 2013 | Leave a Comment

Expert: the Ministry of finance is required to start up the balancing act (2014) to avoid errors of the past years
28-06-2013 12:04 PM

Baghdad (newsletter). The Economist called Muhammad Ahmed Al-Hasani, the Ministry of finance should start budgeting year (2014) to avoid errors that occurred during the past years, which led to the delay in approving the budget.

He said Al-Hassani (News Agency): the adoption of the general budget during the past years come in the first quarter of the fiscal year and the disbursement of funds comes after more than a month of the adoption of the budget, leading to the reluctance of many investment projects and services to the provinces and ministries.

He added: the Ministry of finance to prepare next year’s budget to budget proposal to a Council of Ministers with the price lower than the price specified in the budget this year to avoid any effects might arise on the price of oil on world markets.

The parliamentary Finance Committee has sent an urgent letter to the Minister of finance emphasized the need to start preparing the initial budget for 2014

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