Urgent Parliamentary Finance: The government will reformulate the 2021 budget and send it to Parliament next week
Urgent Parliamentary Finance: The government will reformulate the 2021 budget and send it to Parliament next week
12/06/2020 11:58:18
{Baghdad: Al Furat News} The Parliamentary Finance Committee revealed that the government decided to reformulate the draft federal budget law for 2021.
Committee reporter Ahmed Al-Saffar told Al-Furat News that “the government has postponed sending the budget to Parliament until now. We believe that it is justified because the price of oil has changed these days and it has risen to $ 49 a barrel and may rise more,” pointing out that “Basra crude is more expensive than Brent crude and this The government requires reformulating the figures in the budget to reduce the fiscal deficit and increase revenues.
He added, “The other reason for the delay in the budget is the existence of understandings between the Ministry of Finance and the International Monetary Fund to update the exchange rate of the Iraqi dinar, as it is a sensitive issue and must be updated in a way that does not cause inflation.”
Al-Saffar ruled out “the arrival of the budget to parliament this week because changing and checking it takes time, and I expect it to be sent to parliament next week,” pointing out that “there are no sessions next week, but the Finance Committee will hold continuous meetings until it is completed and presented to Parliament.”
It is noteworthy that informed sources say that the Cabinet will vote on the 2021 budget bill at its next Tuesday session, with expectations of a deficit of 25%.
alforatnews.com
