The Iraqi Council of Ministers postpones the 2021 budget session
The Iraqi Council of Ministers postpones the 2021 budget session
12/5/2020 14:32
[Baghdad-Where]
A source in the Iraqi Ministry of Finance revealed, on Saturday, the postponement of the cabinet session devoted to approving the 2021 Budget Law, attributing the reason for the delay to make some amendments as well as the lack of a final agreement with the Kurdistan Regional Government.
The source said, “It was decided to postpone the cabinet session devoted to approving the General Budget Law for 2021 to another day due to some amendments to the law.”
The source indicated that among those amendments is “reducing the proportion of the fiscal deficit in the general budget,” noting that “there is no final agreement between the federal government and the Kurdistan government regarding the region’s proportion of the budget and the disbursement of dues.”
The source explained that “the Ministry of Finance will change the price of a barrel of oil from 41 to 48 dollars per barrel.”
The government of the Iraqi Prime Minister Mustafa Al-Kazemi has devoted the next session to approving the general budget law for 2021. ”
The coordinator of the Media Room in the Change Movement, Delir Abdul Khaleq, announced earlier today, Saturday, that the Kurdistan Regional Government’s delegation, which is currently visiting Baghdad, has reached a technical agreement with the federal government regarding Salaries and the share of residents in the 2021 budget.
A source in the Ministry of Finance informed Shafaq News Agency earlier that the ministry will complete the preparation of the draft general budget bill for 2021 and present it to the cabinet next week.
Iraq relies on oil sales revenues to finance 95 percent of the expenditures. The country is experiencing a suffocating financial crisis during the current year due to the decline in crude prices in global markets due to the Corona pandemic,
and Iraq has not approved a financial budget for the current year due to the circumstances that accompanied the unprecedented popular protests that toppled the government of Adel Abdul Mahdi late last year.
alliraqnews.com
