With a “serious deficit.” Parliamentary finance suggests approving the budget before the holiday
With a “serious deficit.” Parliamentary finance suggests approving the budget before the holiday
2023-03-16 03:11
Shafaq News/ A member of the Parliamentary Finance Committee, Jamal Cougar, suggested today, Thursday, that the state’s federal budget for the current year be approved before Eid Al-Fitr, noting at the same time that there is a “serious deficit” in it.
Cougar said, in a statement received by Shafaq News Agency, that the budget may be approved before Eid Al-Fitr, stressing that Parliament does not have the authority to add the salary scale to the budget. A member of Parliamentary Finance indicated that the budget deficit is “dangerous” and the government may resort to borrowing.
Earlier, economist Manar al-Obeidi predicted that the deficit in the state’s general budget would reach 90 trillion Iraqi dinars in the event that the revenues were not fully achieved as planned, and indicated that the drop in oil prices by one dollar would cost the state 1.5 trillion dinars annually.
On March 13, the Iraqi Council of Ministers approved the draft budget law for the next three years, with a value of about 200 trillion dinars, which is the largest in Iraq’s history.
shafaq.com
