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Finance completes the final accounts before their legal deadlines
Iraq 11/14/2023
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-Sabah
Yesterday, Monday, the Ministry of Finance completed the final accounts of the budgets before their legal deadlines.
A statement by the ministry stated, “In confirmation of the government approach and the approach of the Ministry of Finance in adopting the principles of transparency and integrity in public finance management, the ministry took the initiative, with the start of the work of the new government and in accordance with its government program, and under the directives of Prime Minister Muhammad Shiaa Al-Sudani and Minister of Finance Taif Sami, to begin work on completing The final accounts of the budgets for the first time for the years from 2017 to 2019, which were sent to the Federal Office of Financial Supervision,” indicating that “work is continuing to complete the final accounts for the years 2020 to 2022.”
The statement added, “Despite the complications that accompanied the process of issuing these accounts, the Ministry committed itself, with exceptional efforts throughout the previous stage, to complete the subject of the final accounts, in line with the provisions of the Iraqi Constitution, and the text of Article (62/First) of the Constitution, which stipulates that: (The Council of Ministers shall submit the general budget law and the final accounts to the House of Representatives for approval), pursuant to the provisions of Article 34 of the Administration Law.
Finance No. 6 of 2019}.
He explained, “This achievement constitutes a notable development in the corrective path of financial policy within the government program,” noting that “the state’s final accounts reflect the processes of applying the general budget in accordance with the legal regulations, regulations, and financial instructions in force to show the state’s financial position with its collectible rights and what it owes.” Obligations payable.
The Ministry of Finance affirmed, according to the statement, “its commitment and keen keenness to complete and submit the final accounts with each budget, and to refer them to the House of Representatives for the purpose of approval, in implementation of the decision of the Federal Supreme Court, whose decisions are considered final and binding on all authorities based on the text of Article 94 of the Constitution.”
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