The three-year budget... a guarantee for the implementation of the government program
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Baghdad: Hussein Thaghb Al-Tamimi
A new mechanism for approving the federal budget comes to support developmental trends and is supportive of the stages of work for a period of three years, as it was based on legal legislation employed to make the budget in this way, and the legislation is enforceable for the second and third years of the life of the financial plan and there is no need for the intervention of the legislative authority except when it requires adjustment in my budget The two years 2024-2025 and at the request of the executive authority itself, thus enabling the executive authority in its ministries, governorates and agencies to implement its ministerial curriculum in the fullest and sustainable way.
Financial advisor to the Prime Minister, Dr. The appearance of Muhammad Salih said: "Fiscal policy for the first time in the history of the general budget in Iraq practices the principle of medium-term financial planning, which is based on the provisions of Article 4/Second of the applicable Federal Financial Management Law No. 6 of 2019 as amended."
He added, "Despite the commitment to the annual budget, which is defined on the basis of the fiscal year that begins on (1/1) of each year and ends on (12/31) of the same year, as stated in the provisions of Article 1/ Ninth of the same law above, as well as in the introduction to Article Fourth / Second of the law also above, however, the development factor and the nature of maintaining the strength and unity of the flow of funds for the new strategic investment projects and the proposed development funds in terms of investment spending, required financial sustainability and stability in the executive activity without interruption imposed by the legislative process on the subject of the annual budget (i.e. avoiding Legislative sclerosis due to the annual approval of the budget).
He pointed out that "the implementation of the development and service provisions of the ministerial curriculum adopted by the government during its executive life, and which was approved by the House of Representatives last October, requires, within the framework of a sustainable financial policy, the implementation of a medium-term general budget for the years 2023-2025, as the provisions for implementing a law will be The general budget is binding for the year 2023, but it is subject to amendment by the government in other years, with the approval of the House of Representatives, when needed.
Thus, Article 4/Second of the Financial Management Law No. 6 of 2019 as amended, which was approved in the three-year budget, stipulates the following: The annual budget starts from (1/1) and ends on (12/31) of the same year, and the Federal Ministry of Finance has the right to prepare an average budget The term is for a period of (3) years, presented once and enacted, and the first year is obligatory, and the Council of Ministers, based on a proposal from the Ministries of Finance and Planning, may amend it for the second and third years and with the approval of the Council
Saleh stressed that "the legislation will be effective for the second and third years of the life of the financial plan, and there is no need for the intervention of the legislative authority except when it requires adjustment in the budgets for the two years 2024-2025 and at the request of the executive authority itself, and this is what will provide a stable legislative cover for fiscal policy in particular and economic policy in general, In order for the executive authority in its ministries, governorates, and agencies to implement its ministerial curriculum in the fullest and sustainable manner.
Financial expert d. Mahmoud Dagher said: “A paragraph was mentioned in the Financial Management Law that allows the development of a three-year financial plan that is embodied in the possibility of presenting three budgets at once to the House of Representatives, the first being binding and the other two being modified accordingly. This paragraph was employed by the government, provided that the budget for the year 2023 and the total Its establishment is 199 trillion dinars, and the budget for the next two years will be of the same financial size, and it will be repeated.
Dagher preferred to present an actual budget for three years, and in this way I find it more beneficial for the country than presenting a budget for one year and repeating it for the next two years.
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