Parliamentary Finance reveals the latest developments in the budget: two sessions to decide, and this is the time for voting
Parliamentary Finance reveals the latest developments in the budget: two sessions to decide, and this is the time for voting
2023-05-22
Sunday, a member of the Parliamentary Finance Committee, Youssef Al-Kalabi, revealed the latest developments in the financial budget law for the year 2023, while indicating that its resolution will be within a week.
Al-Kalabi said in a press interview, “The Finance Committee has completed most of the articles of the general financial budget.”
A member of the Parliamentary Finance Committee added, “The remaining items of the budget are approximately three paragraphs related to the Kurdistan region,” noting that “these paragraphs were left to the political blocs.”
Al-Kalabi pointed out that “the budget materials that came from the government were unclear,” pointing out that “the Finance Committee requested that it be reformulated in a manner commensurate with the size of the budget.”
The member of the House of Representatives confirmed that “the House of Representatives will vote on the budget law within a week as a maximum,” explaining that “the budget will be read and voted on during two sessions, due to the large number of articles and items.”
Earlier, the House of Representatives completed the first and second readings of the draft federal budget law for the Republic of Iraq, which was submitted by the government of Muhammad Shia al-Sudani for the fiscal years (2023, 2024, 2025).
The 2023 budget is the largest in Iraq’s post-2003 history, and Prime Minister Muhammad Shia’ al-Sudani said that its total amounted to more than 197 trillion dinars ($135 billion), including an operational budget of more than 150 trillion dinars, and an investment budget of about 47 trillion.
The estimated deficit rate is close to 63 trillion Iraqi dinars, and the total expected revenues are equivalent to more than 134 trillion dinars, while oil revenues are estimated at 117 trillion dinars based on an oil price of $70, while non-oil revenues amount to 17 trillion.
burathanews.com
