Member Of Parliamentary Investment: The Government’s Approach Is Not To Delay Budget Instructions
Time: 10/20/2023 13:04:42 Read: 572 times {Economic: Al-Furat News} A member of the Parliamentary Investment Committee attributed the delay in issuing the financial budget instructions to the appeals submitted to them in the Federal Court.
Asaad Al-Bazouni told {Al-Furat News} agency, “We do not expect that there is a government trend regarding delaying the issuance of budget instructions, and that the financial allocations are in place and the government has taken some measures in this regard, and that the delay may be due to the completion of the budget file and its appeals.”
He added, "We do not expect that the government's approach will be delayed."
On June 12, the House of Representatives voted on the federal budget law for the years 2023-2024-2025, after discussions that lasted for five days.
On August 7, the Federal Supreme Court decided the federal government’s appeal of the budget law.
Parliamentarians attributed the Ministry of Finance’s delay in the allocations to ministries and governorates more than five months after approving the budget to “a lack of financial liquidity, or to crossing the largest possible period of time to move away from the financial deficit, or to the delay that occurred in legislating the law and then in issuing implementation instructions,” while others attributed it. to fear that its funds would be exploited in the local elections scheduled for next December 18.
Iraq, for the first time in its history, approved a three-year financial budget in a single draft law, which Parliament voted on last June, and the government defended the move by saying that it aims to develop plans for important projects in The country, in addition to avoiding the problem of delaying the approval of financial budgets every year for several months.
The budget for the current year and the next two years, according to the budget law, amounted to 153 billion dollars, with an expected deficit of up to 48 billion dollars, and the price of oil was approved at 70 dollars per barrel, as exports constitute... Iraqi oil represents more than 96% of Iraq's financial imports.
