Parliamentary Finance sets the date for implementing the budget..and reveals its transfers

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[size=52]Parliamentary Finance sets the date for implementing the budget..and reveals its transfers[/size]

[size=45]Yesterday, the Parliamentary Finance Committee confirmed the release of salaries for 720,000 new employees after the Presidency of the Republic approved the budget, while it expected the ministries to start implementing its provisions in early July. A member of the Parliamentary Finance Committee, Mueen Al-Kazemi, said, in a statement followed by (Al-Mada), that “the budget law sent by Parliament to the Presidency of the Republic includes 78 articles after adding 11 articles to the copy sent by the government.”[/size]
[size=45]Al-Kadhimi indicated that “transfers will be made at a value of 6 trillion dinars for the purpose of increasing governorate allocations and approving the budget. The salaries of 720,000 new employees will be released from lecturers, contracts, holders of higher degrees, seniors, and other categories,” pointing out, “The Finance Committee added 150,000 job degrees to the budget in response.” for different segments.[/size]
[size=45]And he continued, “There are more than 500 spending units, and after the approval of the President of the Republic, the process of implementing the budget will be followed up by the Finance Committee and the remaining parliamentary committees, each according to its competence.”[/size]
[size=45]And Al-Kazemi went on, that “the government may appeal against articles that added financial burdens, and appealing to any article will stop the implementation of that budget and not all of its provisions,” suggesting that “the ministries start implementing what was stated in the budget at the beginning of next July.”[/size]
[size=45]On a related note, the other member of the committee, Jamal Cougar, stated that “the budget will meet the aspirations of many, but it did not meet the aspirations of all; There are large segments awaiting appointments, while the government’s approach is to stop them.”[/size]
[size=45]And he stressed "the need to support the private sector and investment projects to provide job opportunities," stressing that "the law has now reached the Presidency of the Republic, and we are waiting for the ratification and issuance process to be completed."[/size]
[size=45]Cougar concluded, “The budget is par excellence political and expresses the political orientation that governs the authority.”[/size]
[size=45]For his part, Representative Ali Turki said, in a press statement, that “approving the “general budget for three years is an important achievement for the government and parliament,” pointing out that “the law was passed amid difficult circumstances amid objections and discussions about the articles.” Turki added, "There is a fear of appealing to one of the articles of the law, as it will open a wide door to challenging the rest of the articles by some political blocs or independent personalities because they are not convinced of some of the provisions." And he pointed out, “Many segments of society and the governorates have great interests in the law, and it is awaiting approval and publication in the Official Gazette to be effective.”[/size]
[size=45]In a related development, the independent member of the House of Representatives, Hadi Al-Salami, announced that he had submitted three appeals against the general budget law, which was approved by Parliament last week. Al-Salami said that he will file 3 appeals against the General Budget Law before the Federal Court “for its violation and inconsistency with the laws in force.”[/size]
[size=45]He explained that “the three articles relate to extinguishing advances and granting exceptions to ministers and governors to invest with the private sector.”[/size]
[size=45]Al-Salami continued, "Article Three is related to granting authority to governors and fund heads to contract directly and to be excluded from controls and instructions." And a document circulated on Friday showed that the General Secretariat of the House of Representatives sent the general budget law to the Presidency of the Republic for the purpose of ratification.[/size]
[size=45]And the Iraqi Parliament approved at dawn on Monday of last week, the financial budget law for three years, with high expenditures and investments driven by the increase in oil prices.[/size]
[size=45]Parliament approved the law, which should cover the three years 2023, 2024 and 2025, about three months after the government submitted the draft budget. The value of the proposed expenditures in the new budget is 198 trillion and 910 billion dinars ($153 billion) per year. As for the share of the Kurdistan region, it amounts to 12.67 percent. The total budget revenues amount to 134 trillion and 5 billion dinars ($103.4 billion), based on the price of a barrel of oil of $70, as oil revenues constitute 90% of the country’s revenues.[/size]
[size=45]The deficit is estimated at $49.5 billion, which is a record compared to the last budget that was voted on in 2021 (and the 2022 budget was not agreed upon due to instability), as the deficit at that time amounted to $19.8 billion.[/size]
[size=45]The International Monetary Fund had warned last month of “reliance” on “oil revenues” in Iraq, calling on Baghdad to “devise a more stringent fiscal policy.”[/size]
[size=45]The expenditures in the budget include investments worth 49 trillion and 350 billion dinars (37.9 billion dollars), which will go especially in building roads, housing projects, schools and hospitals, which constitute a “priority” for the Sudanese Prime Minister, Muhammad Shia’a, in a country whose infrastructure suffers from deterioration due to decades of war. wars.[/size]
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