Iraq’s budget for 2022 to focus on investment projects

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Mudhar Muhammad Salih, the financial advisor to the Prime Minister of Iraq.
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  • Salih belives the fluctuations in the oil markets and the global economic situation will cast a shadow over the draft general budget for 2022
  • The Ministry of Planning said that employee salaries, social protection and other expenses were not affected by the delay in approving the general budget law

Iraq’s general budget for 2022 will focus on implementing a set of investment projects in line with diversifying economy and achieving sustainability.

The financial advisor to the Prime Minister, Mudhar Muhammad Salih told the Iraqi News Agency “the fluctuations in the oil markets and the global economic situation will cast a shadow over the draft general budget for 2022,” noting that “the next budget will focus on implementing a package of government investment projects that are in line with diversifying the economy and achieving sustainability.”

Salih explained, “The 2022 budget is not austerity, but is subject to the principle of consolidation or financial discipline as much as possible, in order to avoid borrowing except for extreme necessities.”

The Ministry of Planning, earlier, reiterated that employee salaries, social protection and other expenses were not affected by the delay in approving the general budget law for the year 2022, while referring to a small committee studying its basics.

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