The Investment Budget and its Role in Financing Infrastructure Projects
Authors: Shaker Salah Sahib , Abdul Rasoul Lamia Mohammed 
Published: December 2018

General budget for the government shows its own philosophy or process in drawing the financial policy and the significant objectives, economic, financial and social plans. In Iraq for example, and as a result of the political instabilities, budget is subjected to many ideological and structural changes on one hand, and to the adopted goals under the construction, progress, development, services, infrastructure, and economic activity promotion from the other. Indeed, repeatedly failure and collapsing of structures in all aspects led the main tasks and varied priorities to be not able to recognize the specific resources that aiming at fulfillment the basic needs and requirements. Thus, the arrangement of these priorities was thoroughly considered necessary to tackle the main challenges of dire needs; the significant goal of the general budget whether is the current or investment budget. This research illustrates the importance of the budget and its key role in developing the infrastructure, recognizing the correct procedures of preparing the investment budget, allocations that given to the ministries and non-governmental institutions, increasing of these allocations in search of reaching infrastructure adequacy besides knowing the required incomes by which the general budget is funded. Though, the research is based on two hypotheses: The first" Showing the relation makes bridges among the proper planning of investment budget and making infrastructure" The second "The proper planning uses for investment budget increasing has the ability of infrastructure development".

     In the research, the electricity was set as the best example, mainly in economic and service, economical, industrial activities and due to the bad condition and mass destruction that suffered in the past years. The research also discusses the general framework of budget, infrastructure, as well as studying the rising rates of investment budget in all ministries particularly the Ministry of Electricity as a sample. The increasing of investment budget rates from the total general budget is considered a right trend for polices and new trends of the government, the researcher concluded. Since the delay in approving the government budget at the beginning of each year which staves the projects execution off, the government endeavors focus on rising the rates of investment budget of the Ministry of Electricity in order to solve the problems of cutting in electricity and reaching the state of prosperity for both people and society. Although the success of the proper planning of investment projects that made by the Ministry of Planning, the rates of projects execution for the previous year has not been taken into consideration. And noticing the lack in completion the electricity projects, apt for decreasing the earned cash incomes compared with sales quantities because of the failure in recovering the amounts of selling the entire energy and existence wastes for different matters, among of which, violation in these lines.

   The researchers recommend Coordinating between the General Secretary for the Councils of Ministers and the Parliament in order to approve the act of budget at the beginning of each year should be done. In case of granting allocations, Ministry of Planning should reconsider the rates of projects execution for the previous years in the ministries .and Ministry of Electricity should find solutions and adapting appropriate regulations against any violation or overusing in the energy lines, utilizing the good qualification and skill of its technical staff as well as establishing a precise system for collecting amounts, otherwise, it is preferred that contracting with private companies by giving them proportion after collecting, on condition, deposit amount for insurance shall comply with the recovered amounts.