Renewed calls to expedite the submission of budget schedules
Renewed calls to expedite the submission of budget schedules
2025/10/05
Several members of the House of Representatives stressed the need for the government to expedite the submission of the 2025 budget tables, in line with applicable laws. This step is important for enhancing economic and financial stability, they stressed, emphasizing that completing budget procedures is a fundamental pillar for addressing financial challenges and avoiding disruption to service and investment projects. Member of the Finance Committee, MP Raed Al-Maliki, told Al-Sabah: “Submitting the budget tables represents an essential step to enable the House of Representatives to exercise its oversight role and follow up on the details of public spending,” noting that “adherence to the specified deadlines enhances transparency and supports financial stability.”
He explained that “the budget is one of the most important tools that contribute to controlling the state’s financial policy, and that any delay in presenting its details negatively impacts investment and service plans, in addition to its direct impact on projects that touch the lives of citizens.”
MP Al-Maliki emphasized that “adhering to legal standards in preparing and submitting the budget, scheduled for October of each year, will help reduce reliance on borrowing and limit the accumulation of debt.” He called for “strengthening cooperation between the legislative and executive authorities to address future economic challenges.”
For his part, MP Bahaa Al-Nouri, a member of the Parliamentary Oil and Gas Committee, pointed out that “the failure to send the budget tables represents a clear violation of Article 77/Second of the Federal Budget Law, which has had a direct impact on the movement of funds and the financial activity of government institutions.”
Al-Nouri explained, in an interview with Al-Sabah, that “the delay has led to a state of stagnation in the Iraqi market due to the slowdown in exchange rates and the failure of financial dues to reach companies, in addition to the delay in operational allocations, which has clearly impacted the economic cycle and commercial activity.” He stressed the need to “follow up on this issue with the Ministry of Finance to ensure clarity of data and completion of allocations during the coming period.”
He added, “The government is not obligated to submit a new draft budget for next year, but the speedy resolution of the financial schedules and allocations will contribute to boosting economic activity and providing a stable environment for the public and private sectors.” He emphasized that “adherence to applicable laws and expediting the completion of the budget will enhance economic stability and prevent the worsening of negative effects.”
In turn, MP Mohammed Al-Shammari, speaking to Al-Sabah, called for “expediting the completion of the draft general budget and submitting it to Parliament for a vote,” noting that “failure to approve it could lead to the next budget being transformed into a caretaker budget with limited powers, not exceeding 12 percent of spending, which would hinder the continuation of economic projects and plans.”
He pointed out “the importance of completing the final accounts and budget schedules within the constitutional deadlines, which will enhance financial stability and support the state’s developmental aspirations.”
Economic expert Abdul Karim Al-Issawi confirmed to Al-Sabah that “the approval of the three-year budgets for 2023, 2024, and 2025 was a positive step that contributed to establishing a clear framework for revenues and expenditures. However, several challenges prevented the completion of the schedules for the 2025 budget.”
He explained that “the mounting domestic debt, increased expenditures, and near-total reliance on oil revenues have made preparing the budget a complex task in light of fluctuating global oil prices.” He noted that “the delay in submitting the schedules has negatively impacted vital sectors, leading to a decline in services and a slowdown in economic activity.”
Al-Issawi explained that “the tight deadline and the approaching election date require the relevant authorities to resolve the budget issue as quickly as possible,” stressing that “continued delays directly impact the economic cycle.”
alsabaah.iq
