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The Parliamentary Finance Committee announced that the budget for the year 2023 will differ from its predecessors by the presence of an investment component that is commensurate with the new government program to provide services, while clarifying the possibility that the budget includes new appointments.
A member of the Finance Committee, Jamal Kougar, said in a statement reported by the official newspaper that “the 2023 budget will approach from 130 to 150 billion dollars, at a fixed exchange rate based on the price of crude between 70 to 75,” adding, “What distinguishes it is that it will be a different investment budget to provide services.” Meaning, it will be a real balance."
Cougar added, "The presence of loans in the budget is not excluded, and it is not a defect, as is the case with the budgets of the largest countries in the world, and that some loans may be grants or loans proposed by some countries for specific strategic projects," considering the inclusion of loans that "it does not mean bankruptcy." Rather, it depends on the form of the budget, if it sponsors many strategic and vital projects that are comprehensive for all governorates, then the budget may not be sufficient to cover expenses, and for this, loans are resorted to.”
And about adding new resources to the budget, he said: “This is supposed to happen in the next budget if the prime minister’s words about reforms are true, because corruption steals some of the existing resources,” noting that “there are resources that the government can invest, in religious tourism that the state spends on, At a time when it is said that there are 40 million annual visitors to religious shrines.
Cougar indicated the inclusion of the petrodollar clause in the 2023 budget, explaining that "next year will witness the disbursement of petrodollars to the concerned governorates, despite its presence in all budgets, but governments did not spend it."
Regarding employment, Cougar said: “So far, it is not known that the budget includes appointments, perhaps those covered by the Food Security Law will be included in it, to prepare new appointments,” noting that “the Finance Committee can amend the budget without adding financial paragraphs, because It has the power to reduce spending, not increase it."
The deputy added that “the deadline for preparing the budget is normal, and the government is able to send it in the second half of November or its end, and there will be forty days to legislate it, and thus there will be enough time for the government to launch it in the second half of January 2023, in line with the government’s investment service program, Because the operational side is almost fixed.
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