The Parliament recommends keeping the budget away from political differences

INA - BAGHDAD 

Parliamentary Finance Committee revealed on Monday, its request to the Ministry of Finance for a detailed report of its vision to address the budget deficit while setting a date for the second reading of the budget law.

"The Finance Committee began its first meetings on the budget, as they discussed the general frameworks and total figures for the volume of expenditures, revenues, deficit, and the government's vision that it drew to achieve its government program," said Member of the committee, MP Mustafa Al-Kara'wi, to the Iraqi News Agency - INA.

He noted, "it was agreed that there should be continuous sessions in the coming days to seek clarification from the Minister of Finance and the government about the possibility of implementing the budget."

"The notes recorded in the Finance Committee are not only related to the deficit, but rather the volume of existing spending, which amounted to 199 trillion dinars, and this is exaggerated," he pointed out, adding, "setting the price of oil at $70 after the recent turmoil that occurred in global markets aroused the ire of many. We must review the numbers."

He stated that "during the budget discussion period, all details are to be discussed in terms of revenues, expenditures, or the deficit percentage," pointing out that "the committee called on the Ministry of Finance to submit a detailed report on the mechanism for dealing with the deficit."

"It is possible to reduce unnecessary operating expenses and investment projects. There are concerns about putting forward a budget for three years. The second reading of the budget will be 8 days after the completion of the first reading," he noted, expressing his hope to "keep the budget away from the political differences."