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March 7, 2023[You must be registered and logged in to see this link.]
Baghdad / Obelisk: 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 current government.
Committee member Mueen Al-Kazemi said that the draft budget law was supposed to arrive some time ago, but the dollar exchange rate changed from 1,450 dinars to 1,300 dinars.
He added that 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 added that the discussion will take place on all items within the relevant 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 he went on to say that the government project reduced the total budget amounts, after it was more than 200 trillion dinars, it has now become about 196 trillion dinars, and this ceiling is subject to discussion within the corridors of Parliament.
He explained that Iraq's oil and non-oil revenues were previously 149 trillion, but after changing the exchange rate they became 135 trillion dinars.
And he stated that Iraq exports 3 million and 500 thousand barrels of oil per day at a price of 65 dollars, 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 will be about 170 trillion, 90 trillion of which goes to the operational side.
He pointed out that salaries alone consume 62 trillion dinars, which are for four million employees, in addition to social care, rations, medicines and other governing materials.
He concluded his speech by saying that 80 trillion dinars will go to the investment component, which is a large sum added to it from the allocations of the emergency support for food security and development law amounting to 9 trillion dinars that were allocated for the development of the regions, because this amount has not been spent until now.
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