“Finance” hopes to reduce the deficit by 18 trillion dinars, so that the total budget becomes 180 trillion
“Finance” hopes to reduce the deficit by 18 trillion dinars, so that the total budget becomes 180 trillion
2023-05-13 04:55
Shafaq News / The Finance Committee in the Iraqi Parliament indicated, on Saturday, new figures for the fiscal deficit and the value of the total budget, while confirming that the approval of the draft law will take place within the next few days.
A member of the committee, Mueen Al-Kadhimi, told Shafaq News agency, “The House of Representatives will vote on the general budget law in the coming days, after the Parliamentary Finance Committee finishes preparing its final report, after which the government will start implementing its government program in early June.”
Al-Kazemi added, “We in the Parliamentary Finance Committee hope that there will be a possibility to reduce the budget deficit rate of 64 trillion dinars, by increasing revenues and reducing unnecessary expenditures, especially since the remaining period of this year is seven months, and it is certain that many things cannot be done.” disbursed in a short period of time.
The member of the Finance Committee indicated that the committee worked to reduce the deficit to about 18 trillion dinars by reducing and compressing operating expenses, so that the total deficit in the budget would be 46 trillion, instead of 64, and thus the total amount of the general budget would be 180 trillion dinars.
The Iraqi Council of Representatives completed the first and second readings of the draft federal budget law for the Republic of Iraq, which was submitted by the government of Muhammad Shia al-Sudani for the fiscal years (2023, 2024, 2025).
On Tuesday, the ninth of May, the committee announced that the size of the operating budget in the 2023 budget, which has not yet been approved by the Iraqi parliament, amounts to approximately 133 trillion dinars. The State Administration Coalition formed by the government of Muhammad Shia’ al-Sudani set May 17 as the initial date for voting on the tripartite budget (2023-2024-2025).
shafaq.com
