Parliamentary Legal: Six Challenges in the General Budget Law
Parliamentary Legal: Six Challenges in the General Budget Law
3-16-2023
Information / Baghdad..
On Thursday, a member of the Parliamentary Legal Committee, Representative Salem Al-Anbuge, identified six challenges in the General Budget Law for the year 2023.
Al-Anbuge said, in an interview with Al-Maalouma, that “the 2023 budget has not yet reached the House of Representatives, despite the vote on it in the Council of Ministers last Tuesday.”
He added, “6 challenges in the general budget law require re-reading and extensive re-reading before voting on it, which is the current price of a barrel of oil, its suitability for changes in the global market, and the size of the fiscal deficit, which is the largest compared to the rest of the budgets.”
And he indicated that “other challenges are represented by the size of the budget, which has reached 200 trillion, and the mechanisms of bridging the financial deficit in a way that does not lead to tying up the state treasury with additional funds from interest, with an indication of the amount of funds allocated for investments,” stressing “reducing expenditures, with reference to a very important issue, which is activating revenues The non-oil state directly because it can cover 10% of its financial revenues.
He pointed out, “There are important consensuses on the budget file that may speed up finding solutions to many challenges, but the problem of the large deficit and oil prices remains worrisome.”
Last Tuesday, the Council of Ministers approved the 2023 budget, amounting to 200 trillion Iraqi dinars, or about 140 billion US dollars.
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