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Parliamentary Finance undertakes to quickly pass the budget
Iraq 04/11/2023
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Omar Abdul Latif
Committee member Hussein Moanis said, in an interview with "Al-Sabah": "The Finance Committee and the House of Representatives are keen to come up with the best budget that has passed over the past years, despite the challenges," and indicated that "there is seriousness by the members of the committee in proceeding with the budget without returning it to the government." Pointing out that "discussions took place in the committee regarding the paragraphs of the budget to prepare a detailed report and introduce proposals and discussions in order to complete and mature all opinions."
He added, "There is a major challenge represented in reducing expenditures and increasing revenues in this year's budget, given the high percentage of deficits that intersect with the Financial Management Law," noting "the committee's keenness to reduce expenditures, given that there will be a problem during the coming years if the budget is passed in this way." The great deficit.
He continued, "There is a complete absence of real plans to know the volume of revenues annually, and the committee is always working on estimating the cash quantities that arrive from those revenues, which appear to have decreased to a level less than half," noting that "the state has given many exemptions recently and the effects of changing the price of exchange rate, in addition to the fluctuation of oil prices in the global market, especially after fixing it at 70 dollars in the budget, which prompts us to hedge on the issue of figures on the level of revenues, and there is also the oil agreement between the region and the center, which is still unclear until now, and what is the role of (SOMO) Will the account in which the revenues of the region be placed be monitored? Mu'nis asserted.
A member of the Finance Committee ruled out the reported intentions to raise the prices of oil derivatives, "as it is a matter for producing companies only," pointing to the addition of "a paragraph to pay the differences of the popular crowd, national security and examiners in the Ministry of Defense." He confirmed the closeness of hosting Prime Minister Muhammad Shia' al-Sudani and executive officials to "answer the committee's questions regarding the budget," considering it "a positive point and a complementary issue between the legislative and executive authorities to make the government program a success."
For his part, a member of the Parliamentary Economy Committee, Hussein Al-Sabri, said: “With regard to the delay in approving the budget law, the law has been read first and the Finance Committee has already begun to study and discuss it,” noting that “despite the need to expedite the approval of the budget law, there are doors that need to a study.”
And the House of Representatives completed its session on April 6, the first reading of the draft federal budget law for the fiscal years 2023, 2024, and 2025, and the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, directed in a meeting of the Finance Committee yesterday, Sunday, to expedite the completion of the budget law and complete its requirements, stressing that “the period The next few will witness the second reading of the budget bill.
Edited by: Muhammad Al-Ansari
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