A political approach to approving the budget before the Eid holiday, after reducing the deficit

POSTED ON[You must be registered and logged in to see this link.] BY [You must be registered and logged in to see this link.]

[size=52]A political approach to approving the budget before the Eid holiday, after reducing the deficit[/size]

[size=45]Baghdad / Firas Adnan[/size]
[size=45]Parliament is preparing to proceed with the procedures for enacting the budget law, and deputies confirm that the voting process may take place before the Eid al-Fitr holiday, after conducting a review of all paragraphs and comparing them with the ministerial curriculum of the government of Muhammad Shia’ al-Sudani, but they spoke of a desire to expedite the discussions with some necessary amendments in order to reduce the deficit. and keep it for three years.[/size]
[size=45]Representative Hatif Al-Saadi said, "The draft budget law has officially reached Parliament, which will hold a session during the current week in order to present it for the first reading."[/size]
[size=45]And Al-Saadi continued, “The first reading will not witness discussions, but rather the deputies will be briefed on what is included in the government project, after which it will be referred to the concerned committee, which is the Finance Committee, along with the supporting committees.”[/size]
[size=45]He pointed out, "This budget will be for three years, and it is a good step that the government took and came in negotiation and understanding with the political blocs to ensure economic and financial stability," stressing that "the budget for the first year will be binding on the government, which can make adjustments to the budget for the next two years, provided These amendments must be approved by Parliament.[/size]
[size=45]And Al-Saadi stated, “Iraq used to suffer from major problems every year when approving the budget, which causes it to be delayed, or that we go through years without passing it, as happened in 2022, 2020, and 2022.”[/size]
[size=45]He pointed out that “the street looks at the budget with great importance, because it is responsible for running the wheel of the national economy and revitalizing it.”[/size]
[size=45]Al-Saadi spoke about “important service projects that are suspended at the present time, pending the release of financial allocations to proceed with them, and this will not happen without approving the budget.”[/size]
[size=45]And he stated, "Parliament will continue to hold its sessions without any interruption or holiday until the law is approved, which is stipulated in the Iraqi constitution."[/size]
[size=45]Al-Saadi does not expect that “the adoption of the law will be delayed for a long time,” suggesting that “this task will be completed before the Eid al-Fitr holiday, that is, during the days of Ramadan.”[/size]
[size=45]He stressed, "The most prominent political dispute over the law was with the Kurdistan region, and the government sent the project after reaching an agreement on this dispute."[/size]
[size=45]And Al-Saadi believes that “Parliament will make some amendments by transferring the amounts and ensuring an increase in some chapters and a reduction in others, in a way that does not carry the budget in general with additional amounts.”[/size]
[size=45]He noted, "Some provinces, led by Basra, are calling for increased allocations, especially those that produce oil, as they are considered the economic lung of Iraq." Al-Saadi explained, "The government project includes a deficit of about 64 trillion dinars, and it is likely to be funded through surplus oil revenues."[/size]
[size=45]It is not ruled out, “resorting to internal borrowing if oil prices are unable to cover the budget deficit, and perhaps external borrowing.”[/size]
[size=45]Al-Saadi warned, "Parliament, in turn, will work to reduce the percentage of the deficit in the budget through its powers to reduce the amounts and transfer between the doors."[/size]
[size=45]And he continues, “Issues related to employment and confirmation of contractors are outside the powers of parliament when discussing the budget law, but it is possible to put pressure on the government in order to deal with this file.”[/size]
[size=45]Al-Saadi concluded, "The political blocs inside Parliament sense the current situation with the need for us to have a sober budget law capable of meeting the requirements of the current stage."[/size]
[size=45]For his part, Representative Firas Al-Maslamawi stated, “What we have reached about the budget is that it includes projects that address the shortage in the health and educational sectors, addressing poverty, reconstruction, municipalities, the return of those whose contracts have been terminated, and support for farmers.”[/size]
[size=45]Al-Maslamawi continued, “The ministerial curriculum of the government of Muhammad Shia’ al-Sudani has included a number of files, and its implementation will only be after the approval of the budget because it needs financial allocations.”[/size]
[size=45]He pointed out, “The information that came to us from the political corridors is that everyone supports the speedy approval of the budget, whether the state administration coalition supporting the government or even the opposition blocs in parliament.”[/size]
[size=45]And Al-Maslamawi stated that “everyone is looking to start providing services, and therefore it is not in the interest of any party to delay the adoption of the law.”[/size]
[size=45]And he believed, "The completion of this file will be as soon as possible, after conducting a review of all paragraphs of the project sent to Parliament and comparing it with the curriculum of the Sudanese government of Muhammad Shia'a."[/size]
[size=45]Al-Maslamawi explained, “The submission of a draft budget law for three years is in line with Federal Financial Management Law No. 6 of 2019.” He promised that this is “a compensatory step for the loss of last year’s budget, so it is a correct approach, and if something new happens, such as a change in oil prices, then adjustments can be made after the approval of Parliament.”[/size]
[size=45]Al-Maslamawi went on to say, "This approach is being circulated positively within the House of Representatives, and therefore the budget will be passed for the period of time set by the government project."[/size]
[size=45]And he indicated, “The government situation at the present time needs clarity of vision and knowledge of the financial strategy that will be pursued without obstacles.”[/size]
[size=45]Al-Maslamawi added, “The law may need amendments, and we will carry out this task in accordance with the competence stipulated in the constitution for the House of Representatives.” The government had announced the referral of the draft budget for three years within one law, to Parliament after its approval by the Council of Ministers.[/size]
[size=45][You must be registered and logged in to see this link.]