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A member of the Parliamentary Finance Committee, Jamal Cougar, said on Monday (September 20, 2021), that the draft federal budget law for the year 2022 is still incomplete with the Ministry of Finance, stressing that the draft must reach the House of Representatives on the tenth of next October, i.e. the date of the elections. .
Cougar said, in a statement to IQ News , that "the federal budget bill is bound by specific timelines in the Financial Management Law, and therefore setting the budget strategy and completing the first version was supposed to end in the middle of this month and be sent to the Council of Ministers."
He added that "the project is not complete so far, and the Ministry of Finance still has it without sending it to the Council of Ministers for the purpose of adopting it as a bill," noting that "the project must reach Parliament on the tenth of next October, which coincides with the holding of early elections."
And that "the law, of course, will be carried over to the new parliamentary session, and the first tasks of Parliament will be to legislate the budget law."
Yesterday, Saturday, the Prime Minister's financial and economic advisor, Mazhar Muhammad Salih, acknowledged the existence of a financial deficit in the draft general federal budget law for the year 2022.
Saleh told IQ News , "The public financial dilemma in Iraq is that oil and non-oil revenues are not sufficient to fill the operating budget, and therefore are of a consumer nature, and there is nothing left for development and projects," noting that "the 2022 draft budget is in the process of preparation, but it is It is expected that the fiscal deficit in it will be less than 50%, and therefore it will differ from the deficit of the 2021 budget.”