Finance Committee: The amount of the budget will reach 150 trillion dinars, with a deficit of 100%

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[size=52]Finance Committee: The amount of the budget will reach 150 trillion dinars, with a deficit of 100%[/size]

[size=45]Baghdad / Firas Adnan[/size]
[size=45]The Parliamentary Finance Committee suggested that the total amounts of the budget law be 150 trillion dinars, pointing out that the deficit will not exceed 10%, and talked about the possibility of including 75,000 job degrees for holders of higher degrees and first graduates from universities, indicating that the government will finish discussions on the law and send it to parliament early next year.[/size]
[size=45]"The government is working on a daily basis to complete the country's general budget as soon as possible, as well as files for improving basic services and the Iraqi economic situation," Deputy Secretary-General of the Council of Ministers Farhad Nematullah said in an official statement yesterday.[/size]
[size=45]In addition, a member of the committee, Representative Mueen Al-Kadhimi, stated that “the current government headed by Muhammad Shia’a Al-Sudani was formed on the 27th of last month, which means that its age has just exceeded 30 days.”[/size]
[size=45]Al-Kazemi added, “Al-Sudani, upon assuming his duties, assigned the Ministries of Finance and Planning to draft the budget law, and directed that it be submitted as soon as possible.”[/size]
[size=45]He pointed out, "The Ministry of Finance estimates the operating expenses, while the Ministry of Planning estimates the expenditures on the investment side, and it pertains to the projects of the ministries and governorates."[/size]
[size=45]Al-Kazemi pointed out, "These two ministries are working on completing the ministries' sums, and after completing the draft, it will be submitted to the Council of Ministers in accordance with the constitutional and legal contexts."[/size]
[size=45]And he talked about “a discussion that will get the law in the Council of Ministers, in which political opinions will be presented, some of which are related to the Kurdistan region and the Iraqi components, and some amendments may be made to the articles.”[/size]
[size=45]Al-Kazemi expects that "this process will end soon in order to present the project to Parliament early next year, with the hope of legislating it."[/size]
[size=45]He warned, "The political blocs will not spend much time discussing, as they agree to support the government with legislation that helps implement the curriculum, and the most prominent of these legislations is the budget."[/size]
[size=45]Al-Kadhimi stressed, "The budget is supposed to translate primarily the ministerial platform, which won the confidence of the House of Representatives, in conjunction with the passing of the government."[/size]
[size=45]And the member of the Finance Committee continues, “Al-Sudani has emphasized many aspects, including health, electricity and energy,” stressing that “these files are supposed to be clear in the budget.”[/size]
[size=45]Al-Kazemi called for “allocating more funds for investment projects and infrastructure issues,” suggesting that “the amount of the budget will reach 150 trillion dinars, so it is assumed that there will be a large percentage of the investment and urban side that is commensurate with the ministerial curriculum.”[/size]
[size=45]And he continues, “The last budget that Iraq legislated was in the year 2021, which witnessed a reproduction of the revenues and expenditures of previous years and did not include a reform program.”[/size]
[size=45]And Al-Kazemi finds that “the situation has changed now, and the street is waiting for the draft budget to include materials that meet ambitions, such as the existence of 75,000 job grades for holders of higher and first degrees since 2003.”[/size]
[size=45]He stressed that "distributing these grades to those who deserve it is the responsibility of the Federal Service Council," noting that "the general situation requires sums of money, especially in addressing the needs of the disadvantaged governorates that have been affected by terrorism."[/size]
[size=45]Al-Kazemi noted, "The current rise in oil prices cannot be relied upon when estimating Iraq's revenues, and the evidence is the relative decline that occurred during the past days," calling for "taking into account the possibilities that may occur in the future, foremost of which is the continued decline in prices."[/size]
[size=45]And he stated, "What was calculated in the 2021 budget is 45 dollars per barrel, with a production of 3 million and 250 thousand barrels per day," stressing that "oil revenues were less than 90 trillion Iraqi dinars."[/size]
[size=45]And Al-Kazemi indicated that, with “calculating the price of a barrel of oil at 75 dollars, the revenues will be 127 trillion Iraqi dinars if production remains the same according to the quota approved by the Organization of Petroleum Producing Countries (OPEC) for Iraq.” He stated, "The situation requires the government to work to diversify revenues, by benefiting from the agricultural and industrial sectors and controlling customs and tax revenues."[/size]
[size=45]And he went on to say that “the current government is serious about diversifying sources of revenue and not relying on a clear source,” stressing “the need for us to have a strategy in the next stage and cooperation from all to advance it.”[/size]
[size=45]And Al-Kazemi went on, speaking about “the possibility of a 10 trillion dinars deficit in the 2023 budget, taking into account that this year is the first in which Iraq does not have indebtedness towards Kuwait.”[/size]
[size=45]For his part, another member of the committee, Atwan Al-Atwani, stated that “Parliament has contact with the government in order to ripen the budget law.”[/size]
[size=45]Al-Atwani added, "There are aspirations that the Council of Ministers will finalize the law and send it to parliament early next year."[/size]
[size=45]He pointed out, "All parliamentary blocs are ready to discuss and study the law through the first reading and the report of the Finance Committee, leading to a vote on it."[/size]
[size=45]Al-Atwani concluded, “The legislative term will begin on the ninth of next month, and after that we will enter a one-month recess only,” expressing his hope that “this period will be sufficient for the government to complete all the provisions of the law.”[/size]
[size=45]Prime Minister Muhammad Shia al-Sudani had stressed, during a meeting on the budget two days ago, “the need to complete the draft budget law as quickly as possible and submit it to the House of Representatives in order for it to enter into force without delay.”[/size]
[size=45]Al-Sudani added, according to a government statement received by (Al-Mada), that “the law targets, in its allocations, the priorities adopted by the ministerial curriculum, which are combating unemployment, reducing poverty rates, combating corruption, upgrading services, as well as reforming the economy.”[/size]
[size=45]The statement indicated, "Al-Sudani directed that the draft budget law take into account the importance of presenting infrastructure projects over other projects."[/size]
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