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Advisor to the Prime Minister: The schedules are in accordance with the 2024 Budget Law
Economical 05/26/2024
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The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, said yesterday, Saturday, that the variables in the financial tables are identical to the constants of the tripartite budget. Saleh stated to the Iraqi News Agency (INA): “The variables in the financial tables for the year 2024 were identical to the constants adopted by Law No. 13 of 2023, the Federal (Tripartite) General Budget Law, especially with regard to the axis of the hypothetical deficit amounting to approximately 64 trillion dinars.”
He explained: “There are important trends in the management of the public budget, whether in addition to public expenditures, where the spending ceiling reached 211 trillion dinars, or revenues and deficits.”
He pointed out that “oil prices are still higher than their estimates in the tripartite budget of $70 per barrel, with a positive change rate of more than 16 percent above the approved price, and we are approaching the middle of the fiscal year while maintaining the export rates approved in the budget and managing oil production efficiently and in accordance with International agreements with OPEC on the issue of controlling quotas
Production.
He added: “There is high discipline in maximizing non-oil revenues, especially tax and customs revenues, specifically after adopting automation, modern methods, and information technology in tax and customs estimation, estimation, and collection.”
He pointed out “the effort to impose discipline on operational expenditures and keep spending on them within acceptable minimum limits, in addition to ensuring that the efficiency of investment spending and the operation of all approved projects is increased, in order to ensure a high growth rate in the gross domestic product at a rate exceeding twice the population growth rate, by launching the project movement.” New without delay or stop.
He stressed that “the pattern of public spending, in accordance with the schedules announced, is characterized by accuracy, objectivity, and self-savings, which contributes to reducing the resort to financing the actual deficit, even when needed, through internal borrowing and within limits that ultimately do not exceed the accepted international standard ratio for financing the deficit, which amounts to 3 percent of the amount.” Total GDP of the country
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