Government advisor: The 2025 budget includes significant adjustments in spending and deficit.
Government advisor: The 2025 budget includes significant adjustments in spending and deficit.
2025/04/02
The Prime Minister’s advisor for financial affairs, Mazhar Mohammed Saleh, confirmed that “the general budget amendments enhance stability and support the country’s urban renaissance.”
Saleh told Al Furat News Agency that: “The financial and legal flexibility available in the Federal General Budget Law No. 13 of 2023 (the three-year budget), in accordance with the implementation of the amended Financial Management Law No. 6 of 2019, has allowed the executive authority to proceed with the implementation of its government service program for ongoing projects without interruption and at a high level of stability.”
He explained that “these efforts have been clearly reflected in all governorates of the country, as they are witnessing a continuous and organized urban renaissance.” He pointed out that the financial tables for the year 2025 will soon be submitted to the Council of Representatives in accordance with Article 77/Second of the Three-Year Budget Law, which will include some important adjustments in spending, sources of public revenue, and deficit management.”
He pointed out that these adjustments come after the Council of Representatives approved, in early February of the month before last, the amendment to Article 12 of the Budget Law, related to the mechanisms for calculating the extraction of oil from the Kurdistan Region in the areas of extraction and transportation operations.
The Financial Advisor emphasized that the financial track is proceeding regularly and effectively, with a high level of governance, transparency, and financial integrity, thanks to close coordination between the legislative and executive authorities.
alforatnews.iq
