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There are two main reasons behind the possibility of the budget deficit rising to 90 trillion dinars
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Baghdad today - Baghdad
Today, Tuesday (February 20, 2024), economist Nabil Al-Marsoumi suggested that the deficit in the 2023 budget will rise to about 90 trillion dinars.
Al-Marsoumi said in a post on Facebook, followed by Baghdad Today, that “it is expected that the planned deficit in the 2023 budget will reach about 90 trillion dinars,” explaining the reason, as “a result of the rise in public expenditures to 225 trillion dinars while revenues remain.” The public at the level of 134 trillion dinars.
Al-Marsoumi explained, “The danger of this deficit is that it will be financed from internal and external borrowing after the surplus achieved in 2022, amounting to 22 trillion dinars, was exhausted in covering the actual deficit in the budget.”
The Iraqi Parliament voted on Monday (June 12, 2023) on the federal budget law for the years 2023, 2024, and 2025, after discussions that lasted for five days.
The value of the budget for last year amounted to 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit amounting to 63 trillion dinars (48.3 billion dollars), while the provisions of the budgets for the years 2023 and 2024 have not been published.
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