Postponing sending the budget to parliament for a new week, and calls for its approval in early Apri

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[size=52]Postponing sending the budget to parliament for a new week, and calls for its approval in early April[/size]

[size=45]Baghdad / Hussein Hatem[/size]
[size=45]The Parliamentary Finance Committee suggested that the 2023 budget draft will reach the House of Representatives early next week, with a value of 170 trillion Iraqi dinars.[/size]
[size=45]The fluctuation of exchange rates in the Iraqi markets, and the differences between the central and regional governments, caused the delay in the arrival of the budget, which is scheduled to arrive about five months ago.[/size]
[size=45]The financial budget for the year 2022 was not approved by the Council of Ministers and the House of Representatives due to the turmoil that Iraq witnessed after the early elections in October 2021, and the delay in forming the government for more than a year.[/size]
[size=45]A member of the Finance Committee in the House of Representatives, Mueen Al-Kazemi, says, “The draft budget law for 2023 will reach the House of Representatives early next week; To study, discuss, make amendments, and then read, ratify, and approve it in the month of April; So that the government can start implementing its program.[/size]
[size=45]Al-Kazemi added, "The size of the budget will be 170 trillion Iraqi dinars," stressing the need for "the deficit to be logical."[/size]
[size=45]A member of the Parliamentary Finance Committee pointed out, “The estimated share of the Kurdistan region of the budget will amount to more than 12%, provided that the region provides clear statements of its previous and current revenues regarding oil exports, outlets, and the number of employees.”[/size]
[size=45]Al-Kazemi explained, “A committee from the Ministry of Oil set the price of a barrel in the budget with a ceiling of 65 dollars, and the exchange rate of the dollar at 1,300 dinars, and on this basis we expect that oil revenues will be 135 trillion dinars, in addition to other revenues from collection and other files, so that the budget reaches 170 trillion.” Dinars, and this is a reasonable number, but the government aspires to reach 200 trillion dinars.”[/size]
[size=45]In turn, a member of the House of Representatives, Thaer Makhaif, says, “There are two main issues that caused the delay in the 2023 budget, the first of which was exchange rate turmoil and instability.” He added, "The second issue is related to the differences between the central government and the Kurdistan Regional Government and the lack of compatibility between them." He pointed out that "the previous period witnessed the completion of the budget from most ministries, but dollar speculation prevented it from being sent to the House of Representatives."[/size]
[size=45]On February 7, the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate, equivalent to 1,300 dinars to one dollar.[/size]
[size=45]For her part, Member of Parliament Mahdia Al-Lami says, “According to the constitutional timings and legal materials, the budget must reach the House of Representatives in the middle of last October.”[/size]
[size=45]Al-Lami added, "There are technical, administrative and financial reasons that impeded the budget's arrival to Parliament, in addition to the lack of compatibility between the governments of Baghdad and Erbil."[/size]
[size=45]The member of the House of Representatives indicated that, “Among the reasons for delaying the budget is the file of lecturers, administrators, and contracts for the development of regions in Baghdad, in addition to financial reasons in some ministries.”[/size]
[size=45]For his part, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, says, “The deficit in the 2023 budget will not exceed the deficit percentages in previous budgets,” noting that “the greater the spending ceiling, the greater or higher percentage will be allocated to investment spending in a continuous manner.” He added, Saleh, that "what distinguishes the federal general budget for the year 2023 is the investment spending related to infrastructure services in the cities of Iraq in a consistent manner," noting that "the most important in investment spending activity is the efficiency of material and financial achievement."[/size]
[size=45]He pointed out that “ensuring the efficiency of investment spending was confirmed by the service campaign that came in the government’s ministerial curriculum, whose realistic and practical indicators began strongly since last October before the adoption of the Federal General Budget Law 2023, as the maximum benefit was made from the emergency support law for food security and development in a way that achieves efficient allocation.” And the spending that is really directed at the investment business related to economic development.”[/size]
[size=45]It is noteworthy that the House of Representatives passed, in June 2022, the draft law on emergency support for food security and development, in a step that allowed the government to spend on some projects and conduct state affairs temporarily, despite the political differences that accompanied the process of passing the law.[/size]
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