The percentage of deficit in the 2020 budget is 33%

The percentage of deficit in the 2020 budget is 33%

Monday, December 16, 2019 at 11:17 am

The percentage of deficit in the 2020 budget is 33 percentBaghdad / Sky Press

On Monday, the Parliamentary Finance Committee suggested that next year’s budget would reach 162 trillion dinars and a fiscal deficit in excess of 48 trillion dinars.

“The Financial Management Law obliges the government to send the draft budget law to Parliament on October 10 of every year, but the next year’s budget has been delayed to the parliament because of the demonstrations and accelerated events that led to the resignation of the government and the transfer of The government is conducting business. ”

He added that “the government is proceeding with the implementation of the draft budget at a rate of 1/12 for the first three months of next year, including operational spending only without investment.”

Regarding the size of the 2020 budget, Al-Saffar explained that “during our contact with some members of the budget committee headed by the Council of Ministers, they assured us that the budget is estimated at 162 trillion dinars in general expenses, and revenues amount to 114 trillion dinars, meaning that there is a large deficit of 48 trillion dinars.”

The decision of the committee pointed out that “operational expenditures began to expand at the expense of investment due to increased expenditures, especially job grades and the launch of financial grants for the unemployed,” stressing that “the 2020 budget will not differ significantly from its previous budgets.”