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Deep differences stand in the way of approving the draft budget 2018 House of Representatives "Internet" Economy News Baghdad: Large differences within the political blocs on the draft budget bill 2018, which will affect the economic policy of the government during the current year, according to specialists, expecting not to pass the budget in the coming days because of the intensity of the dispute between the decision-makers in the House of Representatives. The Ministry of Finance instructed all ministries during the past month to cover their needs through the use of the approved exchange mechanism, which is 112 to face the non-adoption of the draft budget for 2018. The parliamentary economic committee said that the non-adoption of the budget caused by the delay of the Council of Ministers to send a draft budget law and synchronized with the beginning of the legislative holiday. The committee member, Najeeb Najib, said in a statement to "Economy News" that the reason for delaying the Council of Ministers to send the budget law to the House of Representatives, is the high oil prices have estimated the price of a barrel of $ 43 and now sold at $ 58, which prompted the government to reduce the deficit to 13 Trillion dinars after it was 23 trillion dinars. Najib expressed her displeasure at the adoption of 12.6 percent of the province of the budget of 2018, saying at the same time that it was in accordance with the formula of "overwhelming". She added that 12.6 percent is not enough to pay salaries in general, because the region needs 889 billion dinars a month to pay, while the ratio will provide 450 billion dinars only. And on the losses resulting from the delayed adoption of the budget, the member of the Economic Committee, the losses are not large because the origin of investment expenditures set up for the establishment of service projects do not constitute more than 25% of the budget, most of which loans and some of them ratified in 2017. Noting that the sovereign expenditure took a large part of the budget of 2018 to reach 45%, as well as the availability of degrees of employment but not able to cope with unemployment. On the other hand, the Dean of the Faculty of Management and Economics, Mitham Laibi, in a statement to "Economy News" that "losses caused by delaying the adoption of the budget, will be based on the salary and salaries, because it is the first component of the budget, which weakens the investment side. He added that the delay caused by the president of the conflict between the political blocs for the purposes of electoral propaganda and try each of them to review "political muscles." "All political arguments have nothing to do with any economic fundamentals aimed at developing the Iraqi economy," he said. The federal budget estimated at 108 trillion dinars, with a deficit of 13 trillion dinars, and saw the reduction of the share of the Kurdistan region from 17% to 12.67%. "The first loser of the postponement of the budget is the Iraqi people, and the postponement of their ratification is a delay for the investment side and a semi-disruption of the operational side," said the head of the Iraqi Economists Association, Abdul Hussein al-Yasiri. He explained that it is not losses by the delay is the management of the investment side and that the budget is a law on the basis of time limits, every day delay this law is lost investment opportunity on the Iraqi economy. While more than 4 million people are employed by the private sector, many of whom depend on the budget for their work. Views 217 Date Added 06/01/2018