Next year’s budget .. sent to the House of Representatives within days and its deficit up to 40 trillion dinars
Next year’s budget .. sent to the House of Representatives within days and its deficit up to 40 trillion dinars
08:36 – 02/12/2019
Mawazine News
The parliamentary Finance Committee confirmed on Monday that the caretaker government will send a budget bill next year to the House of Representatives within days, while noting that its deficit will reach 40 trillion dinars.
Committee member Sherwan Mirza told Mawazine News that “the caretaker government continues to prepare the budget and there are efforts from the ministries of planning and finance to send them in the coming days to the House of Representatives.”
He added, “The vote on the law depends on the House of Representatives,” noting that “the ball in the court to vote on the law.”
Committee member Ahmed Hama Rashid said that “the budget has a large deficit of more than 40 trillion dinars because the estimated income does not fully cover expenses.”
He added, “There is a preliminary agreement between Baghdad and Erbil on the delivery of the Kurdistan region 250 thousand barrels of oil to the company SOMO,” stressing that “the budget next year does not contain any financial allocations for new functional degrees and announced by the House of Representatives degrees of deletion and development.”
He pointed out that “the estimated revenues will be 84 trillion dinars,” adding that “this shows that 20 trillion dinars will be divided as follows 13 million for licensing rounds and 7 trillion of them remain for debt and interest.”
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