Iraqi Parliament Passes the 2024 Budget Bill, 5 JUNE

Iraqi Parliament Passes the 2024 Budget Bill

ERBIL — The Iraqi Council of Representatives approved the 2024 budget bill on Monday through a majority vote.

A statement from the Iraqi parliament's press office confirmed that the legislative body voted on various schedules (A/B/C/D/H/W) within the federal budget law for 2024 before adjourning the session.

The session witnessed the participation of 199 lawmakers, who cast their votes on the aforementioned schedules before concluding the meeting.

The Finance Committee of the parliament subsequently released details regarding the schedules (A/B/C/D/H/W) of the general budget law:

- Table A: Focuses on revenue, outlining the expected income.
- Table B: Addresses expenditures by ministry, allocating funds for various government departments and agencies.
- Table C: Deals with the workforce of centrally funded ministries and offices, specifying staffing and payroll details.
- Table D: Allocates expenses for the governor's office and related expenditures.
- Table E: Contains the main accounts (departments) involved in budget allocations.
- Table W: Details expenditures by sector and activity, providing insights into budgetary allocations across different areas.

Iraq's 2024 budget amounts to more than 211 trillion dinars, marking a notable increase of approximately 12 trillion dinars compared to the previous year. Notably, 20.9 trillion dinars of this budget are earmarked for the Kurdistan Region, with a significant portion of 9 trillion and 55 billion dinars designated for salaries.

The passage of the 2024 budget bill is a crucial step forward in Iraq's financial planning and governance, facilitating the allocation of resources for various sectors and ensuring continued economic stability and development across the country.