The 2023 budget loses its “explosive” character: the year will end with only 58% of it being spent, 4 DEC

 The 2023 budget loses its “explosive” character: the year will end with only 58% of it being spent

The 2023 budget approved by the Iraqi parliament last June was described as an “explosive budget” and the highest in the history of Iraq’s budgets, as it amounted to 199 trillion Iraqi dinars, but as the end of the current year approaches, it is expected that only 58% of the budget will be spent.

Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, said, “The committee had a meeting with the Budget Department inMinistry of FinanceWhat has happened so far is the release of allocations to governorates and ministries, but not in the required manner,” noting that “what was spent during the first six months amounted to 47 trillion dinars,” according to the official Al-Sabah newspaper.

Al-Kadhimi added, “In the second six months, the spending rate will reach more than 70 trillion, and thus we will not have a budget deficit, but rather there will be a surplus,” stressing that “next year will be without a deficit.

Al-Kadhimi pointed out that after the elections are completed, more allocations will be made to governorates and ministries to implement projects, which will lead to the advancement of the government program presented by the Prime Minister.

Accordingly, the total amount that will be spent will amount to only 117 trillion dinars during the current year, an amount equivalent to only 58% of the total budget amounting to 199 trillion dinars, which was described as the highest in the history of the country.Iraq.     link