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Today, Wednesday, the Parliamentary Finance Committee revealed a proposal it had submitted to approve the 2021 budget for the next three years.
Committee member Muhammad al-Shabaki said, in press statements: The holding of parliamentary elections next October and the approval of their results and the formation of the government, which may be delayed until April or June of next year, this matter will cause a delay in approving the budget next year and thus will affect the exchange mechanism in the provinces and ministries And contractors' obligations.
Al-Shabaki added, "There are 3 proposals to implement a mechanism for implementing the budget for next year, the first of which is the approval of data and accounts for the 2021 budget for the 2022 budget, while the second proposal included the approval of this year's budget for the next three years, which is an opinion submitted by MPs and political blocs."
And he continued, "The third proposal is to adopt a 1/12 mechanism in the exchange in order to implement the Financial Management Law by relying on the 2021 budget in the event that it is not possible to legislate the 2022 Budget Law for any reason whatsoever."
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