Parliamentary Finance Committee expects the volume of oil revenues in the 2023 budget

Baghdad-INA  
The Finance Committee in the House of Representatives expected today, Tuesday, the volume of oil revenues in the 2023 budget, the final spending number in it, and the amounts of its operational and investment budget according to the new exchange rate, while pointing out the need to pressure expenditures.
 
 
A member of the committee, Mueen Al-Kazemi, told the Iraqi News Agency (INA): “A committee from the Ministry of Oil set the price of a barrel in the budget at a 65 dollars, and the exchange rate of the dollar at 1,300 dinars, and on this basis we expect that oil revenues will be 135 trillion dinars, in addition to other revenues from collection and other files, the budget will reach 170 trillion dinars, and this is a reasonable number, but the government aims to reach 200 trillion dinars.
He explained, "The size of the expected operating budget will be 90 trillion dinars, and the investment budget 80 trillion to support important projects in the field of health, education, electricity, and financing the Faw Grand Port and the Dry Canal projects."
He pointed out, "The region's percentage of the budget, if it accepts the delivery of clear reports of its revenues from oil, taxes, and border crossings, could exceed 12%."
Al-Kazemi pointed out that "the House of Representatives hopes that the budget will arrive this month, and the parliament and the Parliamentary Finance Committee will devote themselves to discussing and approving the budget after its arrival."
While a member of the committee, Jamal Kocher, confirmed to the Iraqi News Agency (INA), that "there are no major risks to the economy in the event that the price of a barrel of oil is approved at 65 dollars," stressing that "the precautionary and safest price is 70 dollars per barrel in the budget, but All indications indicate that the price of a barrel of oil will decrease, especially during the summer period.
  “The government needs to pressure expenditures,” suggesting “deleting some paragraphs from the budget, or postponing it.” Kocher said.
He pointed out that "the government can present a supplementary budget in the last quarter, the last half, or last trimester of the year in the event of an improvement in oil prices, as it can present a supplementary budget for the additional sums that came from the price hike."