[size=36]Parliamentary Finance determines the fate of the funds allocated to the delayed projects[/size]
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A member of the Parliamentary Finance Committee, Ahmed Al-Saffar, said, "The committee hosts the governors periodically to discuss their investment plans in the governorates, including current or delayed projects," adding that "the value of any project that is late in terms of allocations may revolve for the next fiscal year in the event that it is not completed or postpone it."
With regard to the extent of the ability to invest the rise in oil prices by financing projects, Al-Saffar stated that “any financial abundance achieved by the difference between the price of a barrel planned in the budget goes to finance the budget deficit of 28 trillion dinars, and the remaining amounts above this abundance are transferred to the next year’s budget or to a supplementary budget.” for the current year's budget.
On the third of last May, the Ministry of Planning announced that it had set up a mechanism to accelerate the release of funds allocated to projects, while revealing the number of its projects for the year 2021 and the budget priorities for the current year.
The spokesman for the Ministry of Planning, Abdul-Zahra Al-Hindawi, said, "The Ministry of Planning has 79 projects, most of which are strategic and implemented by different ministries and governorates, and service projects, including water and roads," noting that "electricity and oil account for the largest number, 49 projects out of 79, and the rest are related strategic projects. With ministries and other entities, including transport, water resources, agriculture, and others, the focus will be on service projects that add development and economic value.”
He added, "The priority of the budget will be for continuous service projects in the regional development program and the investment programs of the federal ministries," noting that "the focus will be on projects with advanced completion rates."