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[size=36]An Arab newspaper talks about the budget in numbers: This is the value of revenues and its deficit[/size]
Economy | 03:43 - 04/06/2024
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Follow-up - Mawazine News
, Al-Arabi Al-Jadeed newspaper published a detailed report on the passage of the Iraqi budget for the year 2024, yesterday by the House of Representatives, while talking about its details in numbers.
Text of the report:
Yesterday, Monday, Parliament voted on Iraq’s financial budget for the year 2024 after making amendments to a number of expenditure schedules and financial allocations for the development of the provinces, during a special session held in Baghdad, by a majority of the members present.
The total financial budget amounted to 211.9 trillion dinars, equivalent to more than 153 billion dollars, an increase of 7% over the current year’s budget, and employee salaries, including 62 trillion dinars, a significant difference from last year, which amounted to about 59 trillion dinars.
The general revenues of the Iraqi state, according to the budget, amount to about 145 trillion dinars, which means recording a deficit of 66 trillion. The government says it will reduce the difference in the deficit from high oil prices.
Salaries rise in the Iraqi budget.
According to a brief statement by Parliament, a vote was taken on the country’s general budget schedules, with the participation of 199 out of 329 deputies, and thus the budget becomes effective after it is published in the official newspaper in the coming days.
One of the most prominent amendments to the current budget that was subject to scrutiny in Parliament’s Finance Committee is granting the government the authority to transfer funds between ministries, as well as various investment amounts for service and infrastructure projects throughout the country’s cities.
It became clear that the cost of public operating spending in the country had increased, as total employee salaries rose from 59.2 to 63.4 trillion dinars, an increase of 4.2 trillion dinars. The costs of government care and subsidies also rose from 24.5 to 26.9 trillion dinars, an increase of 2.4 trillion dinars.
The cities of northern and western Iraq rely on regional development budgets that Baghdad grants annually to local governments in order to address some of the devastation and destruction left behind by ISIS, and the military operations that followed its control of those areas between 2014 and 2017. The
expert on Iraqi economic affairs, Ahmed Al-Sheikh, said: To Al-Arabi Al-Jadeed, the current year’s budget was approved after the end of the first half of this year approached, which means that there is difficulty for local governments in the governorates and even at the level of ministries to approve plans for development and development projects on their basis, and it is not expected that all parties will be able The government and executive departments spend all of the budget items.”
Al-Sheikh added, “The operational budget, which is intended for employees’ salaries, consumes more than 60% of the budget, and in advance the government owes the Central Bank the salaries of the five months that have passed, which means that approving the current budget no longer has an impact on the market.” “As if it had been approved since the beginning of the year.”
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