Finance Committee reveals broad outlines of amending budget law
Finance Committee reveals broad outlines of amending budget law
2024-11-26 02:43
Shafaq News/ The Finance Committee discussed today, Tuesday, during its meeting, the draft law of the first amendment to the Federal General Budget Law for the fiscal years (2025-2024-2023) No. (13) of 2023.
Atwan Al-Atwani, Chairman of the Committee, stressed the importance of these laws and emphasized discussing them and submitting some of them to the Council Presidency for a second reading, pointing to the formation of a body to estimate and monitor the distribution of revenues, in order to achieve sustainable development.
The Finance Committee discussed the articles related to the draft law amending the first law of the Federal General Budget Law for the fiscal years (2024-2025-2023) No. (13) of 2023, regarding the mechanism for exporting oil in the region and monitoring production costs, where the necessity of maturing the law to meet the requirements was emphasized, with the need to collect detailed data in numbers and tables to achieve the goal of the appropriate amendment.
On the other hand, the Finance Committee discussed the file of the proposed first amendment to the Law of the General Authority for Monitoring the Allocation of Federal Revenues No. (55) of 2017.
In June of last year, the Iraqi Parliament voted on the draft general budget law for the fiscal years (2023, 2024, 2025).
The value of the 2023 budget amounted to 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit of 64.36 trillion dinars (49 billion dollars).
The Iraqi government allowed the possibility of amending the articles or paragraphs of the law, which is what actually happened when the Council of Ministers approved amending Article (12/Second/C) of the Triennial Budget Law and referred it to Parliament for discussion.
shafaq.com
