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[size=45][size=41]Can the budget be amended by changing oil prices? A legal expert explains[/size]
18 hours ago
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18 hours ago
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The legal expert, Ali Jaber Al-Tamimi, explained the possibility of amending the budget law after voting on it in Parliament in the event of a change in the oil price at less than the amount specified for a barrel in the budget that Prime Minister Muhammad Shia’a Al-Sudani handed over to the House of Representatives.
Al-Tamimi said in a press interview seen by “Takadum” that “merging budgets for the next three years is possible constitutionally and legally, as indicated by Article 78 of the Constitution and Article 4, Paragraph 2, of the Financial Management and Public Debt Law No. 6 of 2019.”
He added, "The aforementioned legal article has authorized the merger in budgets, which are medium-term for the next three years, and the first year is obligatory, and the two subsequent budgets are subject to amendment by Parliament and according to circumstances."
And he indicated that “making the amendment is appropriate to the philosophy of budget legislation, which is a future financial plan that prevents the delay in legislation and can estimate the value of oil and the price of the dollar, and determine appointments and jobs with complete stability.”
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