The President of the Republic receives a phone call from the Turkish President

Baghdad President of the Republic Abdul Latif Rashid received a phone call from Turkish President Recep Tayyip Erdogan this morning.

Erdogan stressed, during the call, his country’s desire to strengthen the historical relations between the two countries and activate bilateral cooperation in order to achieve stability in the region.

Source: National Iraqi News Agency

Economist to / NINA /: The passage of a year without a budget portends an economic collapse

Baghdad The Expert in Economic Affairs, Raad Towaij, stressed the need to make an amendment to the Financial Management Law by amending the calculation of the budget approval law.

Towaig said in a statement to the National Iraqi News Agency / NINA /: “The big mistake in the financial management law is calculating the expenditure of 1/12 of the budget for the previous year, in the event that the budget for the current year is not approved, and an alternative must be found for the remaining quarter, in order to give importance the largest of the economic conditions that may pass through the country, and it is a matter of economic assessment rather than accounting, and the need to make an amendment to it.

He pointed out that “the passing of a full year without a budget portends an economic collapse of service and investment institutions, and the financial management law must be amended and not to rely on calculating 12/1 spending.”

Most state employees fear, if the next year’s budget is not approved, the possibility of stopping the salaries of government employees, retirees and those with social care, as well as stopping all development projects for the country, including infrastructure projects, whose suspension will lead to a stagnation in the labor market in the country.

Source: National Iraqi News Agency