Parliamentary Finance: Reducing the price of the dollar made the 2022 revenues about 135 trillion di

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[size=52]Parliamentary Finance: Reducing the price of the dollar made the 2022 revenues about 135 trillion dinars[/size]

[size=45]Baghdad / Firas Adnan[/size]
[size=45]The Parliamentary Finance Committee stated that reducing the dollar exchange rate will make last year’s revenues about 135 trillion dinars, pointing out that the budget deficit in light of these changes will be determined by about 35 trillion dinars, which will be covered by several outlets, including the remainder of the Emergency Support for Food Security and Development Act that was voted Parliament last year.[/size]
[size=45]Committee member Mueen Al-Kazemi said, “The final draft of the budget law for the current year was decided a month ago, but the amendments that took place in order to make them compatible with the ministerial curriculum and then reduce the exchange rate of the dollar to 1,300 dinars necessitated the Ministries of Finance and Planning to recalculate the project on the basis of these variables.” ».[/size]
[size=45]And Al-Kazemi added, "What the Ministry of Finance has reached regarding these amendments will be officially approved by the Council of Ministers very soon."[/size]
[size=45]He pointed out, "Parliament, represented by the Finance Committee, is ready to receive and study the draft budget in a serious manner, with the hope that it will be approved as soon as possible."[/size]
[size=45]And Al-Kazemi stated, "The Finance Committee hopes that this budget will be equal in terms of revenues and expenditures," explaining that "last year's revenues were about 149 trillion dinars, and with the devaluation of the dollar, it reached 135 trillion."[/size]
[size=45]And he called for “setting up a limited and reasonable deficit that could be covered by available means,” expecting that “the total budget amounts for this year will be between 165 to 170 trillion.”[/size]
[size=45]Al-Kadhimi noted, "The deficit of 30 to 35 trillion dinars will be filled from various gates, whether through the surplus reserve balance or the money recovery program that the government is working on during the current year, in addition to the remaining funds from the Emergency Support Law, Food Security for Development No. (2) For the year 2022, amounting to 9 trillion dinars for the development of regions, these sums have not been disbursed until the present time.[/size]
[size=45]And he hopes, that «all the belongings of the budget will end with the approval of the Council of Ministers and then the approval of Parliament during these two months, so that we can start implementing it in early April».[/size]
[size=45]Al-Kazemi pointed out, "The government will hold its regular session tomorrow, Tuesday, and we hope to present the project during it and then approve it."[/size]
[size=45]And he stated, “The Finance Committee, after the budget reaches it, will study it and follow up on its amounts with the relevant ministries to find out what each of them needs, and it had a meeting with the Ministry of Electricity recently, in which it was briefed on the needs of the electricity sector and will work to include them in the budget.”[/size]
[size=45]Al-Kadhimi spoke about “many demands received from political blocs and representatives of the components of Iraqi society that they need to be included in the budget law, but the Parliamentary Finance Committee will look at the higher interest of Iraq and the need to expedite the approval of the law to start projects in the provinces and ministries for implementation.”[/size]
[size=45]And he warned, "There are good preparations among the public spending units in state institutions towards implementing the ministerial curriculum through the financial allocations included in the budget."[/size]
[size=45]Al-Kazemi stated, "The disputes with the Kurdistan region should be resolved through the required transparency by looking at oil exports and the money obtained from them, which is what the Ministry of Oil and the federal government requires, given that the export of Iraqi oil should take place under the supervision of the federal authorities."[/size]
[size=45]And he believes, "The failure to resolve this dispute means that we will continue to apply the previous mechanisms, not on the basis of percentage, but with certain payments that will be placed within the budget."[/size]
[size=45]Al-Kazemi concluded, "The differences with the Kurdistan region will soon end through continuous dialogues, and the previous agreements we reached in the State Administration coalition that resulted in the formation of the government of Muhammad Shia'a al-Sudani."[/size]
[size=45]For his part, Representative Raed Al-Maliki stated, "Financial Management Law No. 6 of 2019 sets deadlines for preparing the budget law and sending it to Parliament."[/size]
[size=45]Al-Maliki continued, "The law stipulates that the Council of Ministers begins to discuss the law in mid-October, but the delay in forming the government prevented commitment to this date."[/size]
[size=45]He pointed out, "The budget is supposed to reach parliament no later than December 31, that is, before the end of the year, but that also did not happen because of political differences."[/size]
[size=45]And al-Maliki said, "The government has been formed for about four months, but it did not succeed in sending the law that was placed at the forefront of its platform voted on by Parliament."[/size]
[size=45]And he finds that “the delay may have justifications related to fluctuations in the exchange rate of the dollar against the Iraqi dinar and the recent decision by the government to amend this price, in addition to fixing the price of a barrel of oil, as well as disputes with the Kurdistan region.”[/size]
[size=45]And al-Maliki concluded, that “all these issues should not be a gateway to the non-legislation of the law during the current year as well, or to disable it more than we are at the present time, and therefore the government must expedite the completion of the project by sending it to Parliament for approval.”[/size]
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