The official spokesman for the Construction Committee of the Islamic Council confirmed: Given the inflation expectations of 40% for the next year, and the experiences of how the construction budget was allocated in the past years, the 26% increase in the construction budget was not enough and Parliament is trying to pay more attention to the construction sector.
In an interview with reporters, Abdul-Jalal Ari said, referring to the state of the construction budget in the draft budget bill proposed by the government for the year 1402: The construction budget in the 1402 budget bill increased by about 26% compared to construction. Budget 1401. According to forecasts of an inflation rate of 40% for the next year, the 26% increase in the construction budget is definitely not enough.
Few provisions are made for the National Housing Fund in the 1402 budget
He added: According to the construction budget allocation experience, of course, the budget allocation will not be completed. That’s why we have construction concerns. Parliament is trying to pay more attention to the construction field during the budget approval process. In the field of housing, the House of Representatives expected last year to grant a loan to the National Housing Fund, which was not fully realized. In the 1402 budget, they expected a low housing figure, which is not enough.
A spokesman for the Construction Committee of the Islamic Council stated: If financial resources in riyals are considered for the National Housing Fund and the powers of the fund are increased, more assistance will certainly be provided to the housing sector.
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