A surplus of more than 10 trillion. How did Iraq end the 2023 budget without a deficit?-Urgent, 12 JAN

 A surplus of more than 10 trillion. How did Iraq end the 2023 budget without a deficit?-Urgent

Baghdad Today - Baghdad

Today, Thursday (January 10, 2024), the Parliamentary Finance Committee confirmed that the year 2023 did not witness any financial deficit as proven and estimated in the budget law.

 Committee member Jamal Kojar told Baghdad Today that "the 2023 budget law did not witness any financial deficit, due to the cessation of disbursement of funds for projects in the provinces, by order of the Prime Minister to prevent the exploitation of those funds and projects by advertising elections during the last local elections."

"The funds of the projects that were not disbursed during the past year will be transferred to the 2024 budget, and we are waiting for the schedule of disbursements in order to see and vote on them, so far we do not know what the budget will include in terms of projects and disbursements," Koger said.

The total revenues of the Iraqi state until November 2023 amounted to more than 121 trillion dinars, while expenditures amounted to more than 110 trillion dinars, which means a surplus of more than 10 trillion dinars, according to the Iraqi Ministry of Finance.