Parliamentary Economy: The current world budget surplus will reduce next year’s budget deficit, 19 DEC

 Parliamentary Economy: The current world budget surplus will reduce next year’s budget deficit

On Monday, Yasser Al-Husseini, a Parliamentary Economy and Trade Committee member, confirmed that the surplus from the 2023 budget would be used to fill the deficit in the 2024-2025 budget.

During an interview, Al-Husseini mentioned that the government still needs to allocate funds for the 2023 projects, which could result in financial deficits for the following year’s budget .

He stated that the current budget deficit of 64 trillion will be covered by the surplus in the next fiscal year. He also mentioned that the funds allocated to various projects have yet to be utilized, which will result in a financial abundance that can be utilized in future budgets.

Parliament approved the budget six months ago after a difficult struggle due to political controversy that disrupted the country’s economic interests.