To see this article in FULL and MORE go to: My FX Buddies Blog 

In numbers and details.. the 2022 budget and a precedent that did not happen before

link

The financial advisor to the Prime Minister, Mustafa Al-Kazemi, revealed the completion of the draft federal budget bill for 2022.

Mazhar Muhammad Salih said in a press statement, "The financial authority represented by the Federal Ministry of Finance is close to completing the preparation of the draft federal budget bill for 2022," noting that "the Strategic Budget Committee and through its meetings that were held in more than 24 meetings throughout the year, I have concluded that the spending ceiling in the 2022 budget will not exceed the spending ceiling in the 2021 budget, and if there is an increase, it is likely to be 10%.”

He added, "The only thing that has been updated in the 2022 budget, is that the price of a barrel of oil will be around $50 per barrel, as announced by the Minister of Finance, and there are non-oil revenues that are supposed to increase, and therefore the assumed deficit that was proven in the 2021 budget is up to 29 trillion dinars." It is expected that it will decrease to 18-20 trillion dinars, which will lead to a decrease in the deficit and an increase in revenues.”

He pointed out that "this budget could be legitimate if it was submitted to the Council of Ministers before the government entered the stage of conducting business, or Parliament suspended its work," noting that "according to the available information, the draft budget is prepared and will be submitted in the near future."
And he indicated that "the budget was dealt with with high impartiality and outside political disputes, and enjoys high transparency, and that it included applications of the reform white paper, especially with regard to diversifying non-oil sources, addressing waste and unnecessary expenditures, and directing expenditures correctly," he said.

Saleh added, however, that "the 2022 budget may be more balanced, stable, and open to investments more broadly than the 2021 budget, and its coming after Covid 19 also has accounts," noting that "it is certain that the endeavors to complete the draft budget are devoid of any political interests." On the grounds that it tends here and there, and one of its principles is social justice and the fair distribution of income as much as possible.