Parliamentary Finance: 2025 budget tables must be realistic
Parliamentary Finance: 2025 budget tables must be realistic
10-14-2024
Information / Special..
Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, stressed today, Monday, the importance of diversifying non-oil revenues as a means of reducing the financial deficit.
Al-Kadhimi said in a statement to Al-Maalouma Agency, “The volume of expenditures in the 2024 budget amounted to only 120 trillion dinars out of 211 trillion dinars, so the 2025 budget tables submitted by the government to Parliament must be realistic tables before the end of this year.”
He stressed the “need to formulate the 2025 budget schedules realistically, with what is needed in the operational and investment aspects, away from the increase that occurred this year,” noting “the importance of diversifying non-oil revenues as a means of reducing the financial deficit, in addition to the revenues generated from self-financing institutions.”
He pointed out that “relying on oil sales as a major source for the Iraqi treasury still represents a major challenge, but in return there are efforts to increase non-oil revenues during the next phase.”
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, announced earlier that the Ministry of Finance is preparing the general budget tables for the year 2025, while pointing out the most important pillars that will be adopted in the budget for next year.
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