The three-year budget... a guarantee for the implementation of the government program

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[size=52]The three-year budget... a guarantee for the implementation of the government program[/size]

[size=45]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. The matter requires adjustment in the two-year budgets 2024-2025, at the request of the executive authority itself, and thus the executive authority in its ministries, governorates, and agencies can implement its ministerial curriculum to the fullest and in a sustainable manner.[/size]
[size=45]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 Federal Financial Management Law in force No. 6 of 2019 as amended.”[/size]
[size=45]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 the 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 as a result of the annual budget approval).[/size]
[size=45]He pointed out that “the implementation of the development and service items of the ministerial curriculum that was 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 application 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.[/size]
[size=45]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[/size]
[size=45]deputies.[/size]
[size=45]Saleh stressed that “the legislation will be enforceable for the second and third years of the life of the financial plan, and there is no need for the legislative authority to intervene except when the matter 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 way.[/size]
[size=45]Financial expert d. Mahmoud Dagher said: “It was mentioned in the Financial Management Law a paragraph that allows setting up a financial plan for three years that is embodied in the possibility of presenting three budgets at once to the House of Representatives, the first of which is binding and the other two are 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.[/size]
[size=45]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.[/size]
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