Political Coalition: Major flaw in financial budget management
Political Coalition: Major flaw in financial budget management
12-5-2024
Information/Special..
The Victory Coalition criticized, on Thursday, the major flaw in the management of the financial budget, which caused the deficit to increase continuously.
“The budget tables were set without any clear planning or study, given that the budget must take into account revenues and expenditures and that there must be a balance between them,” coalition spokesman Salam al-Zubaidi told Al-Maalouma Agency. “This was not achieved due to pressure from political blocs and the inclusion of many paragraphs in the budget tables, which caused a large financial deficit despite the previous existing deficit,” he explained.
He added that “the political agreement paper on the basis of which the government was formed is considered one of the main factors that led to the inclusion of many paragraphs in the budget,” noting that “Iraq is a single-source country and the price of oil fluctuates between rising and falling, and also there was supposed to be a bridge to cover the deficit through a rise in the price of oil and we do not know where the money provided by this margin goes.”
He added, “There is a major flaw in the management of the budget process, and even the final accounts that we were counting on after approving the budget for 3 years did not happen, and there was no spending for all budget schedules, in addition to the presence of a lot of money that is not being spent.”
He pointed out that “oil resources have not arrived from the Kurdistan Region due to the halt in oil exports through the Ceyhan port, while the government continues to send money to the region without sending a single dinar from its resources to Baghdad.”
It is noteworthy that the parliament has completed the first reading of the draft amendment to the budget law, and it is scheduled to complete its amendment in the upcoming sessions, while representatives criticize the failure to send the budget tables until now.
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