Parliamentary anticipation to receive the 2023 budget with an estimated surplus of $20 billion

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[size=52]Parliamentary anticipation to receive the 2023 budget with an estimated surplus of $20 billion[/size]

[size=45]Baghdad/ Firas Adnan[/size]
[size=45]Representatives are eagerly awaiting the government’s sending of the budget bill for the next year, at a time when MPs and specialists stress the need for the provisions of this law to be formulated differently than it was in the past, taking advantage of an estimated surplus of $20 billion.[/size]
[size=45]Independent MP Raed Al-Maliki said that "legislating the budget law is one of the urgent files at the current stage and represents a joint work between Parliament and the House of Representatives."[/size]
[size=45]Al-Maliki added, "This law has become the focus of attention of all political blocs, whether they are pro-government or opposing it."[/size]
[size=45]He pointed out, "Parliament is interested in legislating the budget law, especially since it comes after most of this year has passed without this law being implemented."[/size]
[size=45]And al-Maliki, that "parliamentary circles demanded that the government hurry and speed up sending the draft budget law, in line with the nature of the current stage."[/size]
[size=45]He believes, "The volume of accumulation and popular demands calls for preparing a different model for the budget law," stressing that "Federal Financial Management Law No. 6 of 2019 addresses the issue of the lack of a budget, and we were able to some extent bypass this year despite the obstacles."[/size]
[size=45]And Al-Maliki said, "The project that we are asking the government today is the budget law for the next year, as well as the final accounts for the past years that have not been voted on until the present time," stressing that "the Federal Financial Management Law obligates the government to send the draft budget for the next year since the middle of this month.”[/size]
[size=45]He stressed, "The delay that occurred in sending the project came as a result of the political blockage and the failure to form a government."[/size]
[size=45]Al-Maliki noted, “The previous government, headed by Mustafa Al-Kazemi, has turned into a daily task since the early elections on the tenth of October last year, and therefore it was unable to send the draft budget law, as it was outside its powers in accordance with the decisions of the Federal Supreme Court and the internal system of the Council of Ministers.” ».[/size]
[size=45]He pointed out that "the Parliament's Finance Committee is concerned with following up the budget file in coordination with the Council of Ministers."[/size]
[size=45]Al-Maliki went on to say that “a proposal I made earlier was to develop a medium financial plan for a period of three years, which enabled the adoption of a stable policy and the completion of many projects, and we look forward to adopting this proposal as it meets the requirements of the current stage.”[/size]
[size=45]For his part, a member of the Kurdistan Democratic Party, Wafaa Muhammad, said that "the previous government left a large financial surplus that should be used properly."[/size]
[size=45]Muhammad added, "The first task of the new government is to prepare to present the draft budget law for the next year as soon as possible."[/size]
[size=45]He pointed out that "expectations indicate that the next budget, in terms of expenditures and amounts, will be the largest in the history of Iraq."[/size]
[size=45]Muhammad explained, "Most of the paragraphs of this budget will be devoted to service projects and the recruitment of foreign companies in order to implement the provisions of the curriculum related to infrastructure."[/size]
[size=45]He spoke of "high rates of poverty and unemployment despite the presence of funds, and this means that the financial approach represented by the budget will work to use the abundance resulting from the rise in oil prices to address these social problems."[/size]
[size=45]Muhammad concluded, “The blocs in the House of Representatives will help the government pass the budget law in order to help restore confidence between the citizen and the political process.”[/size]
[size=45]In addition, the academic specialist in economic affairs, Safwan Qusay, revealed that “there is no less than 20 billion dollars in rounds from 2022 to next year, which is from the surplus oil sales after deducting the sums that went to the emergency support law for food security and development.”[/size]
[size=45]Qusay said, "International indicators confirm that oil prices will remain at the same levels during the next year in light of international agreements within OPEC, and this means that revenues will remain good."[/size]
[size=45]He added, "These amounts can be used towards sustainable financing of investment projects, with the need to compress operational spending."[/size]
[size=45]Qusay stressed that "previous budgets were suffering from public spending taking over most aspects of the budget, which should be disposed of in the future, in addition to the need to diversify sources of income and not rely solely on oil."[/size]
[size=45]He pointed out that "the Sudanese ministerial curriculum included a pledge that there would be additional funding for investment projects, and this would happen through a re-budget that was not intended only for public spending, as happened in the past years."[/size]
[size=45]Qusay continued by saying, "All the data are available towards the government having the financial ability to prepare a budget that meets the ambition, but this depends on the will to implement its paragraphs, especially those related to the investment aspect."[/size]
[size=45]And if this year ends, it will be the third that has not witnessed the approval of the federal budget since the first electoral cycle, which preceded it in 2014 and 2020.[/size]
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