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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Parliamentary Finance: There is no room to legislate the 2022 budget yet

rocky
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budget - Parliamentary Finance: There is no room to legislate the 2022 budget yet Empty Parliamentary Finance: There is no room to legislate the 2022 budget yet

Post by rocky Sat 09 Jul 2022, 4:59 am


[size=30]Parliamentary Finance: There is no room to legislate the 2022 budget yet


2022-07-09
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Yes Iraq: Baghdad

A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed that the current timings according to the Financial Management Law are not consistent with being used to prepare the draft general budget law for 2022.
 
He explained that "the time currently available is to prepare the budget for next year," adding that "the current government has two options, either it has sufficient funds to run the affairs of the remainder of the current year, or it addresses the Parliamentary Finance Committee to prepare a special law that meets its financial needs for the remaining five months."
 
Cougar stated that “approving the budget requires an “authentic” government with full powers, and the current caretaker government cannot in any way send the draft budget law, adding that “the solution is either to form the government or send another law similar to the last law on emergency support for food security and development. To legislate it to be proposed by the Finance Committee because the current government does not have the powers to send bills.”
 
He added, "Time has become very tight, considering that we are in the middle of July, and when the political negotiations begin, we may reach the middle of August, and if the government is formed, we will reach the beginning of September, and when the Council of Ministers prepares the budget bill and votes on it and then refers it to Parliament for the purpose of starting after Readings, discussion and voting on it will reach the end of the current year or exceed it, while all financial accounts will be closed in the month of December.”
 
He explained that "according to the Financial Management Law, the original government is charged with preparing a draft budget law for the next year in mid-August, and it must finish preparing it and send it to the Council of Ministers in mid-September, and then the latter will make amendments and reforms for the purpose of sending the project to the ministries of finance and planning for the purpose of drafting The draft is finalized and then returned to the Council of Ministers to vote on the final draft, all before August 15, after which the House of Representatives will discuss the budget for the next year, in preparation for its approval.
He pointed out that the current timings do not allow the adoption of a budget law for the current year, and there is no possibility of passing it at all, but the remaining time must be used to prepare the budget for the next year.
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