AJ
UPDATES ON BUDGET LAW 3 Part Thread 
The Finance Committee of the Iraqi Council of Representatives announced on Friday that they are awaiting the submission of the 2025 budget schedules by the Iraqi government for approval.
They anticipate that employee allowances and promotions will be implemented according to the current schedule, considering these as inherent rights of employees under the Ministry of Finance's jurisdiction. The 2023 budget was designed as a three-year plan covering 2023, 2024, and 2025. A significant change has been the amendment to Article 12/Second/C, which pertains to resuming oil exports from the Kurdistan Region at a rate of 400,000 barrels per day, with the cost of extraction and transportation adjusted from $6 to $16 per barrel.
This amendment has undergone its first reading, with discussion and voting pending in the second reading. Moeen Al-Kadhimi, a committee member, stated that no further amendments are planned after this one. Once the budget amendment is finalized, the Finance Committee expects the government to provide the budget schedules to ascertain any specific financial adjustments. Regarding employee bonuses and promotions, Al-Kadhimi noted that these are managed by the Ministry of Finance, which had previously suspended bonuses pending budget approval. According to the current schedule, bonuses could be added to salaries in February, affirming this as a right of employees. On January 17, the Iraqi Ministry of Finance reiterated that employees' rights to bonuses and promotions are preserved, explaining that the suspension of certain services transfers and promotions is part of annual regulatory procedures to accurately allocate finances. The ministry is currently unable to transfer services due to the absence of the 2025 budget schedules, which are necessary to understand the financial allocations for each entity, ensuring no financial discrepancies. The ministry is actively working on regulating government spending and setting financial allocation limits for various ministries and entities, including the Kurdistan Region. They emphasized the need to monitor new appointments and employee numbers to prevent funding shortages and ensure timely salary payments for January. Furthermore, the Ministry confirmed that bonuses and promotions are calculated from the date of entitlement, not the issuance date of the ministerial order, according to Circular No. (7497) from 2021. They also mentioned ongoing updates regarding the direct admission of top students and graduates for 2024 and are working to ensure the financial implications of new employee grades are properly included in the 2025 estimates to avoid any allocation shortages.
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