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[size=30]The huge deficit in the 2023 budget...a huge percentage that violates the financial management law
2023-01-14
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Yes Iraq: Baghdad
Expectations and preliminary figures for the budget indicate that the deficit will be in violation of the Financial Management Law, which does not allow the deficit to exceed 3% of the gross domestic product.
Researcher Basil Hussein said, "The next budget will be around 200 trillion Iraqi dinars, with a deficit of 70 trillion Iraqi dinars, or 35% of the budget."
He added, "If this is true, it would violate Financial Management Law No. 6 of 2019, which in its article (6/fourth) does not allow the deficit to exceed 3% of the GDP."
On the other hand, Representative Mustafa Jabbar Sanad revealed that the size of the deficit will reach, according to preliminary figures, 121 trillion dinars, which is a huge number equivalent to the entire budget of Iraq in 2021.
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