Parliament is discussing the amendment to the budget law with government officials to proceed with its approval
Parliament is discussing the amendment to the budget law with government officials to proceed with its approval
2024-12-01 02:41
Shafaq News/ The Parliamentary Finance Committee intends to discuss amending the country’s general budget law in the coming days with officials from the federal government and the Kurdistan Regional Government.
This was stated by Faisal Al-Naili, a member of the Parliamentary Finance Committee, to Shafaq News Agency, saying that the committee will hold a meeting during these days to discuss amending the general budget law.
He added that after the meeting, a number of officials from the Ministry of Finance and Oil in the federal government will be hosted, in addition to officials from the Kurdistan Regional Government.
Al-Naili pointed out that after discussing the amendment to the budget law and hosting the officials, the date for the second reading of the law will be determined.
At the end of last November, the Finance Committee discussed during its meeting the draft law amending the first law 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
