Parliamentary Finance: We have not received the budget law from the Presidency of Parliament yet

politics
  • 26-03-2023, 22:44
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    Baghdad-INA  
    The Parliamentary Finance Committee announced today, Sunday, its readiness to start reviewing the budget, and while it clarified the mechanism for bridging the deficit in it, it confirmed that it included the allocation of 1 trillion dinars for the governorates affected by terrorism and the poorest.
     
     
    A member of the committee, Representative Mueen Al-Kazemi, said in a statement to Al-Iraqiya News, followed by the Iraqi News Agency (INA), that "the parliament presidency has not yet sent the budget law to the Finance Committee," noting that "the committee held deliberative sessions to discuss the draft budget that we have, which did not contain schedules, as the total budget is 199 trillion dinars, including 150 trillion dinars and nearly 48 trillion for investment, at the price of a barrel of oil at $70, and the exchange rate is (1300) dinars per dollar.
    He added, "The budget must be reviewed quickly," pointing out that "the amount of the budget deficit is large, which is 64 trillion dinars, and it will be the same in 2024-2025, this is a real problem that must be reviewed, so if it can be covered for the year 2023, how will it be covered for the coming years?"
     
     Al-Kadhimi stressed that " The 2023 budget deficit will be covered by the amount transferred from previous years, 23 trillion dinars, and from deducting transfers to the central bank treasury, another 23 trillion dinars, five trillion dinars from national bonds, and 3 trillion dinars for loans from Rafidain, Al-Rasheed and the Iraqi Trade Bank, and there are approximately 10 Trillions of dinars as loans from foreign banks," pointing out that "these cannot be implemented in 2024 because the rotate will not exist."