The budget figures cause “terror.” The people are waiting for “approval,” and the government’s proce

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[size=52]The budget figures cause “terror.” The people are waiting for “approval,” and the government’s procedures are proceeding like a “turtle.”[/size]

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private..[/size]
[size=45]On shifting sands, the draft federal budget law for the year 2023 is still progressing, which may be considered the largest in the history of Iraq, after its initial features were revealed.[/size]
[size=45]The preparation of the draft budget took a long time, especially since it has been in the corridors of the government and the relevant ministries for more than five months, which has caused boredom among the Iraqi people, who are waiting for it “impatiently” after its absence for more than two years, hoping that it will provide them with even a small benefit.[/size]
[size=45]Iraq did not approve the 2022 draft budget due to the political crisis that has gripped the country since the “early” elections were held on October 10, 2021.[/size]
[size=45]* Unknown date[/size]
[size=45]Speculation increased, and parliamentary and popular opinions differed about the date of the budget law from the government to parliament. However, most indications may indicate that the expected date may be within the next month.[/size]
[size=45]The representative of the Kurdistan Democratic Party bloc, Mahma Khalil, confirmed that the approval of the budget law will not exceed the month of February, indicating that there are no major obstacles to the completion of the draft law.[/size]
[size=45]Khalil said in a statement, "The preparation of the draft budget law is in its final touches, and that it will be sent to parliament very soon."[/size]
[size=45]And he adds that “the approval of the budget bill will not exceed the month of February next,” noting that “there are no major obstacles to the completion of the bill.”[/size]
[size=45]Huge spending[/size]
[size=45]And the financial advisor to the Prime Minister, Mazhar Muhammad Salih, suggested that the spending ceiling for the current year 2023 budget would reach the barrier of 200 trillion dinars.[/size]
[size=45]In an interview, Salih mentions that “although there are statements about an extremist trend in increasing public expenditures, even in light of the conservative price of a barrel of oil that does not exceed 65 dollars (and it may reach 70 dollars per barrel) and an oil export capacity of about 3.4 million barrels per day. The general budget 2023 is the one who will decide in the end, is there a default deficit or not? Or how big is that supposed deficit?[/size]
[size=45]And Saleh stresses, “The need to include the financial surpluses collected at the end of the fiscal year 2022 and count them as an opening balance for the current year 2023 budget legally.”[/size]
[size=45]And the financial advisor points out that “extreme estimates of public spending say: The budget will have a spending ceiling of about 200 trillion dinars, and that the increases or surpluses will go in three directions, the first to enhance the capital of development funds included in the government curriculum, and the second to cover part of the operational budget and new appointments.” And the third will be allocated to the state’s strategic and service projects, including the unimplemented allocations in the Emergency Law for Food Security and Development No. 2 of 2022.[/size]
[size=45]And he points out that “in various cases, I expect the spending ceiling in the next budget to exceed the barrier of 150 trillion dinars, up to 200, if the (hypothetical deficit) is in a way that does not exceed 15% of total spending, due to the presence of financial savings from last year 2022.”[/size]
[size=45]For his part, a member of the Legal Committee, Representative Aref Al-Hamami, expected the draft budget law to arrive next week.[/size]
[size=45]Al-Hamami mentioned in an interview that “there are two types of laws, one of which has a political nature and requires political consensus to be approved.”[/size]
[size=45]And he points out, “The Federal Budget Law 2023 will be the first law that will be discussed after the resumption of parliament’s work next week.”[/size]
[size=45]Although the draft budget remains a set of conclusions and expectations for financial returns and spending rates, it is the most important project that goes out from the government to parliament for approval in a way that serves society by providing job opportunities and moving towards the right investment that supports the state away from the only source, which is oil. Ended/25 SAR[/size]
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