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An economist reveals a surprise in the 2021 budget

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An economist reveals a surprise in the 2021 budget

   Time: 12/23/2020 22:28:53 Read: 9,423 times

{Baghdad: Al Furat News}
Economic expert Basem Jamil Antoine revealed a surprise in the draft fiscal budget for 2021.

Antoine said in a press statement this evening, that "the size of the budget is 150 trillion dinars and the value of the deficit is 63 trillion dinars," revealing that

"oil imports in the budget accounted for 73% - and for the first time they occurred after - 2003 - which is a happy thing as for the rest of the non-oil imports. It reached 17%. "

He stressed "the need to reduce oil imports, and we have great hope for operating local sectors and achieving internal food security."

He pointed out that "there are signs of a rise in global oil prices," indicating that

"if it reaches 65 dollars, taxes may stop."

He stressed that "the economic crisis is due to the accumulations of successive governments,"

calling for "the need to support local products and the advancement of the large industrial sector, and

there are 50 existing projects that need this support," noting

"the need to prevent construction imports that can be provided locally and do not need the importer."

And Antoine, that "protecting the local product means creating job opportunities for the unemployed, and reform decisions will certainly lead to a significant reduction in the budget deficit."

Last Monday, the Cabinet voted in an extraordinary session on the draft federal budget bill for 2021.

Information on the budget revealed "imposing a tax of 40% on the salaries of presidents, ministers, deputies and general managers, special ranks, not including employees who earn less than a million in tax, and withholding income tax in full on salaries of more than one million dinars."

Prime Minister Mustafa Al-Kazemi said in a press conference last Monday, after the cabinet meeting and the vote on the draft law, that "the budget will not affect the salaries of employees of the two classes that make up the majority of the people," indicating that

"the target party in this budget is the upper classes."

As for Planning Minister Khaled Al-Battal, he stated that "the volume of investment spending will be around 8 trillion dinars, and that the budget included the suspension train project, the Faw port, and a number of projects."

Meanwhile, Minister of Labor, Adel Al-Rikabi announced during the conference, "40% of the salaries of the three presidencies will be deducted from the budget, and 30% of the total salaries of MPs and ministers will be deducted."

Ammar Al-Masoudi

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