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Funds to support the southern regions within the 2023 budget
Iraq 2023/05/16
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Baghdad: Shaima Rashid
The International Monetary Fund saw that Iraq needs to sell a barrel of oil at a price of 75.8 dollars to achieve balance in the budget and avoid the deficit, and while the Parliamentary Finance Committee intends to establish funds to support the most disadvantaged southern regions, deputies confirmed that there is no prejudice to the salaries of retirees, employees and social welfare.
A schedule of the International Monetary Fund showed that balance in Iraq's budget for the year 2023 will be achieved if the price of oil it sells is $75.8 a barrel, after it was $66.5 for the year 2022, $53.3 for the year 2021, and $56.6 for the year 2020. The balance of the price that Iraq needs in 2024 increases to reach $76.4 a barrel.
Meanwhile, a member of the Parliamentary Finance Committee, Saad Awad al-Tubi, told Al-Sabah: “There are proposals to establish funds for the poorest and most disadvantaged governorates, especially the nine southern regions, except for Baghdad, which are proposals submitted by the representatives of these governorates, as we demanded That there be funds similar to their counterparts in the western regions and other funds ».
He added, “The committee has time to add these funds, because the committee will make transfers in the budget and during which the funds will be established,” noting that “there are two proposals; The first is to establish a sovereign fund for the southern regions, from which sub-funds are derived. As for the second proposal, it is to establish sub-funds for each governorate directly,” explaining that the committee is determined to add these funds, but it did not specify a ceiling for the sums allocated to each of them.
Al-Toubi stated that “the committee wants to increase the sums of the poorest governorates from 100 billion dinars to a trillion dinars and establish other funds to alleviate the disadvantaged and oppressed people of the southern and central governorates.” It is done officially.
With regard to securing salaries and the speech of the Minister of Finance, Taif Sami, yesterday, Sunday, a member of the Legal Committee, Raed Al-Maliki, told Al-Sabah: “The Minister of Finance confirmed that the salaries of employees and retirees and social protection will not be affected within the framework of the Ministry of Finance’s commitment or its defense of the high spending ceiling that it included.” The budget, and the resulting gap with revenues, caused the deficit to rise.
He added, "The Finance Committee and Parliament are busy reducing the spending ceiling and reducing the budget deficit."
For his part, the economist, Dr. Diaa Al-Mohsen, explained in an interview with “Al-Sabah” that “the government will not affect the entitlements and salaries of employees and retirees, because the issue is sensitive, especially in Iraqi society.”
Al-Mohsen ruled out that the government was unable “at any time to secure salaries,” noting that “the big mistake made by successive governments was to rely on oil revenues only and leave the rest of the oil sectors, and those governments had to take advantage of the rise in oil prices above $100.” In previous years, by activating other economic sectors,” stressing that “the opportunity is now available to correct mistakes.”
Edited by: Muhammad Al-Ansari
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