10:49 - 2023-03-07
The Parliamentary Finance Committee spoke of its desire to reduce the amounts of the budget law to 170 trillion dinars, confirming good amounts for the investment part in order to implement the paragraphs of the ministerial platform of the government of Muhammad Shia al-Sudani, expecting the project to reach Parliament next week, after its approval by the Council of Ministers, and a member of the committee said
Maeen Al-Kazemi, that “the draft budget law was supposed to arrive some time ago, but the dollar exchange rate changed from 1450 dinars to 1300 dinars.”
Al-Kazemi continued, "This change made the government return the project to the Ministries of Finance and Planning in order to reconsider it at the new exchange rate."
He pointed out, "Expectations are that the cabinet meeting for today, Tuesday, will witness a discussion of the law in order to ratify it and send it to Parliament."
And Al-Kadhimi indicated that “Parliament will receive the law as soon as the Council of Ministers votes on it, and no later than early next week.”
He explained, "The Finance Committee will start studying the project and present it for the first reading, which will not witness any amendments."
Al-Kazemi pointed out, "Discussions will begin after that, in order to make adjustments to ensure that there is no high ceiling on amounts in a way that harms the economic situation because we do not want the deficit gap to widen."
And he stated, “The discussion will take place on all items within the concerned committees and in coordination with the political blocs,” and he spoke of “a desire to establish a fund for the reconstruction of the poorest provinces, a fund affected by terrorism, and a fund for the reconstruction of Dhi Qar.”
And Al-Kazemi continues, “The government project to reduce the total budget amounts, after it was more than 200 trillion dinars, has now become about 196 trillion dinars, and this ceiling is subject to discussion within the corridors of Parliament.”
And he added, "Iraq's oil and non-oil revenues were previously 149 trillion, but after changing the exchange rate they became 135 trillion dinars."
Al-Kazemi stated, "Iraq exports 3,500,000 barrels of oil per day at a price of $65, according to what is estimated in the budget, although the official price is higher than that."
And he talked about “the possibility of the deficit reaching 60 trillion dinars, which is a large amount,” explaining that “the Finance Committee in the House of Representatives has a vision that the budget is about 170 trillion, 90 trillion of which goes to the operational part.”
Al-Kazemi added, "Salaries alone consume 62 trillion dinars, which are for four million employees, in addition to social care, rations, medicines, and other governing materials."
And he went on, "80 trillion will go to the investment part, which is a large amount added to it the remaining allocations from the Emergency Support for Food Security and Development Law amounting to 9 trillion dinars that were allocated for the development of regions, because this amount has not been spent until now."
And Al-Kazemi concluded, that “the Council of Ministers has finished most of the provisions of the budget law according to the new formula, and it is preparing today to vote on it and then send it to Parliament so that we can approve it within a period not exceeding a month, with the aim of speeding up the launch of financial allocations and the implementation of the paragraphs of the ministerial platform for the government of Muhammad Shia’a.” Sudanese.”
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