Saleh: Disposing of financial savings requires two aspects of legislation
Thursday, May 26, 2022 8:02 PM
National News Center / Special
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained, on Thursday, that the disposal of financial savings due to the rise in oil prices and their allocation to projects requires two aspects of legislation.
Saleh said in an interview with the "National News Center",
"The disposal and allocation of savings requires two aspects of legislation, either the
- issuance of the Food Security and Development Law or the
legislation of the Federal General Budget Law for the year 2022,
otherwise it is one of the sovereign reserves of the Republic of Iraq in foreign currency.".
He added that "there are no government spending policies in Iraq or the occurrence of financial transactions outside the federal general budget law or outside any effective law that grants the authority to dispose of the country's sovereign resources."
And he indicated that "the available unallocated reserve funds will currently remain part of the state's reserve financial wealth and will be disposed of in accordance with the law and the constitutional powers granted to the government only."