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[size=36]Warnings of challenges delaying budget approval, most notably the deficit[/size]
Political | 12:09 - 06/05/2024
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Mawazine News - Baghdad
The Iraqi state is facing major challenges in light of the delay in approving the federal state budget for this year 2024, amounting to about 228 trillion dinars (the dollar = 1.320 thousand dinars) despite the passage of five months of this year, and this delay was reflected in the disruption of service and infrastructure projects. Infrastructure, amounting to about 1,300 projects, has been added to the budget schedules and items.
The state entered the fifth month of the year without a budget, despite Law No. 16 of 2009 stipulating that the budget is prepared three months before the end of the fiscal year.
Iraqi officials confirmed that all service sectors, including health and education, suffer from lack of spending and delays in many financial allocations related to service and investment projects. While political sources revealed that voting on the budget items will take place in the Council of Ministers soon, to be sent to Parliament in order to study it and present it to a final legislative vote.
On June 12, 2023, the Iraqi Parliament voted on the federal budget law for the years 2023, 2024, and 2025, in an initiative that is the first of its kind in the country’s history in terms of the size of the budget and the number of fiscal years, with a value of 197 trillion and 828 billion dinars annually, with a financial deficit of 63 trillion dinars, but the decision gave the government the right to amend and review the budget each year according to what the country’s financial landscape requires, including oil prices.
A government source said in a phone call with Al-Araby Al-Jadeed that the general budget of the Iraqi state for this year 2024 is under government review, and will be approved during the upcoming Council of Ministers sessions, because it needs to amend its schedules and reduce the percentage of the financial deficit.
The source, who requested to remain anonymous, explained that the Iraqi Ministry of Finance sent the budget schedules more than a month ago to the Council of Ministers, and work was done to resolve differences related to the value of projects and the volume of investment spending. He pointed out that the tripartite budget tables require periodic review in each fiscal year in order to adjust project costs, the size of salaries, appointments, retirement, and the inclusion of new projects.
He added that the government amendments also include the allocations of ministries and governorate budgets not linked to the region, without prejudice to the legal texts and provisions, the price of a barrel of oil, and exchange rates, as they have been in effect since the beginning of the current year.
Parliamentary criticism
: The Finance Committee in the Iraqi Parliament held the Iraqi government responsible for the delay in sending the budget to the House of Representatives for the purpose of studying it and knowing the chapters on financial disbursement, its schedules, and the laws that were added to it before submitting it to a final vote.
Committee member Moeen Al-Kazemi said that the budget figures expected to reach Parliament have risen from 197 trillion dinars last year to more than 228 trillion, and that this increase will be based on numbers, not items. In statements to reporters on Saturday, Al-Kadhimi criticized the Ministry of Finance’s reluctance to disburse the provinces’ financial dues despite entering the fifth month of the year, and this is what caused the modification of many service projects in the municipal, educational and health departments.
Budget delay
For his part, Representative Mahma Khalil explained that the first year of the tripartite budget must be adhered to, while the following two years, 2024 and 2025, are subject to change, but the country has now entered the fifth month and the government has not sent the budget to the House of Representatives despite its demands for it.
The Iraqi state is facing major challenges in light of the delay in approving the federal state budget for this year 2024, amounting to about 228 trillion dinars (the dollar = 1.320 thousand dinars) despite the passage of five months of this year, and this delay was reflected in the disruption of service and infrastructure projects. Infrastructure, amounting to about 1,300 projects, has been added to the budget schedules and items.
The state entered the fifth month of the year without a budget, despite Law No. 16 of 2009 stipulating that the budget is prepared three months before the end of the fiscal year.
Iraqi officials confirmed that all service sectors, including health and education, suffer from lack of spending and delays in many financial allocations related to service and investment projects. While political sources revealed that voting on the budget items will take place in the Council of Ministers soon, to be sent to Parliament in order to study it and present it to a final legislative vote.
On June 12, 2023, the Iraqi Parliament voted on the federal budget law for the years 2023, 2024, and 2025, in an initiative that is the first of its kind in the country’s history in terms of the size of the budget and the number of fiscal years, with a value of 197 trillion and 828 billion dinars annually, with a financial deficit of 63 trillion dinars, but the decision gave the government the right to amend and review the budget each year according to what the country’s financial landscape requires, including oil prices.
A government source said in a phone call with Al-Araby Al-Jadeed that the general budget of the Iraqi state for this year 2024 is under government review, and will be approved during the upcoming Council of Ministers sessions, because it needs to amend its schedules and reduce the percentage of the financial deficit.
The source, who requested to remain anonymous, explained that the Iraqi Ministry of Finance sent the budget schedules more than a month ago to the Council of Ministers, and work was done to resolve differences related to the value of projects and the volume of investment spending. He pointed out that the tripartite budget tables require periodic review in each fiscal year in order to adjust project costs, the size of salaries, appointments, retirement, and the inclusion of new projects.
He added that the government amendments also include the allocations of ministries and governorate budgets not linked to the region, without prejudice to the legal texts and provisions, the price of a barrel of oil, and exchange rates, as they have been in effect since the beginning of the current year.
Parliamentary criticism
: The Finance Committee in the Iraqi Parliament held the Iraqi government responsible for the delay in sending the budget to the House of Representatives for the purpose of studying it and knowing the chapters on financial disbursement, its schedules, and the laws that were added to it before submitting it to a final vote.
Committee member Moeen Al-Kazemi said that the budget figures expected to reach Parliament have risen from 197 trillion dinars last year to more than 228 trillion, and that this increase will be based on numbers, not items. In statements to reporters on Saturday, Al-Kadhimi criticized the Ministry of Finance’s reluctance to disburse the provinces’ financial dues despite entering the fifth month of the year, and this is what caused the modification of many service projects in the municipal, educational and health departments.
Budget delay
For his part, Representative Mahma Khalil explained that the first year of the tripartite budget must be adhered to, while the following two years, 2024 and 2025, are subject to change, but the country has now entered the fifth month and the government has not sent the budget to the House of Representatives despite its demands for it.
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