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The 2024 budget schedules await the government’s signature and Parliament’s vote
The first 04/02/2024
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After the end of the first quarter of this year, Iraqi state institutions are waiting for the Council of Ministers to approve the 2024 budget schedules and pass them to the House of Representatives to vote on its paragraphs.
For the first time in the history of the Iraqi state, a tripartite budget (2023-2024-2025) was approved, which was considered a primarily political achievement that would distance the general budget from the wrangling of the blocs and their political pressures.
However, approving a tripartite budget does not mean leaving the House of Representatives completely, as the law passed in the middle of last year required that the general budget schedules for each year pass through the government and Parliament for the purpose of amending them for technical reasons.
Finance Committee member Jamal Cougar expected that the schedules would take 20 days in Parliament for approval.
In an interview with Al-Sabah, Cougar stated that the 2024 budget tables have not reached the House of Representatives yet because they are still on the Cabinet table.
He added, "A tripartite budget was approved, and we gave the government the authority to spend the 2023 budget. As for the 2024 and 2025 budgets, they must be reviewed by Parliament because some projects ended last year, so they must be removed from the 2024 and 2025 budgets," stressing that "the schedules are not fixed because the prices of oil and resources... Finances are fluctuating, and the numbers of employees and retirees are increasing.”
Koger continued, "Any law must go through three stages until it is approved. The first stage begins in the relevant committee, the second is general discussions in the Council, and the third is voting," indicating that "there is no approval or amendment to any law before it goes through the three stages."
Koger concluded by saying that “the general budget law takes (20-40) days,” expecting that “the schedules will take a shorter time.”
A few days ago, the Council of Ministers received the budget schedules from the Ministry of Finance, and work has begun on them to be signed and later sent to the House of Representatives.
In turn, the government's financial advisor, Mazhar Muhammad Saleh, praised the approval of a tripartite budget, indicating that the approval of the budget schedules will be decided in the middle of this month.
Saleh told Al-Sabah that “the budget schedules issue should most likely be resolved in mid-April.”
Saleh added that “the tripartite federal general budget that Law No. 13 of 2024 stated is a medium-term financial plan that was not devoid of the principle of its annuality in the issue of preparing annual schedules and submitting them to the House of Representatives for approval, specifically for the two years (2024, 2025), stressing that” the budget approval law The tripartite constitutes an expression of the exchange of trust between the legislative and executive authorities to manage public financial affairs in our country in a way that ensures the continued implementation of investment projects and communication in the adoption of new projects in a planned, integrated manner.”
Saleh continued, “Annual government spending constitutes approximately 50% of the value of the gross domestic product directly, and exceeds 80% indirectly by influencing the business cycle and general market activities and building its positive expectations and stability.”
He stated that "the three-year budget was the first experiment that was approved in the country's financial history and was adopted based on an explicit legal text stated in the amended Federal Financial Management Law No. 6 of 2019. Therefore, it has become necessary to document this financial experiment, which is rich in its economic implications, and to evaluate its results and the requirements for its implementation in the future." When proceeding with its adoption again, including a proposal to study making an appropriate amendment to some provisions of that Financial Management Law in light of what emerged from the experience of implementing the Tripartite Federal General Budget Law.”
Edited by: Abdul Rahman Ibrahim
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