The House of Representatives’ Finance Committee demanded that the government meet the specified deadline for the preparation of the budget for the following year. In the interim, the top of the council, Atwan Al-Atwani, examined with a designation from the Adam Smith Worldwide Establishment a bunch of regulations connected with the improvement of the monetary and banking framework.
Mustafa Al-Karaawi, a member of the Finance Committee, told dinaropinions.com that “the current year’s budget stipulated the necessity of providing Parliament with the financial schedule before the end of the fiscal year, and any delay in this will cause a delay in the start of implementing the budget and its schedules.” Additionally, he mentioned that “the non-oil revenues targeted in the budget are estimated at 27 trillion dinars, while what has been achieved so far does not
Al-Karaawi went on to say that “the Finance Committee called on the government to increase non-oil revenues and ensure the achievement of financial targets to avoid any economic imbalances,” and that “the Ministry of Finance indicated the possibility of collecting 3 trillion dinars per month during the coming period.”
The MP focused on that “the advisory group is intently circling back to how the spending plan reserves are disseminated, to guarantee that they are utilized actually to serve residents and upgrade the public economy, noticing that it examines occasionally ways of expanding government incomes by fostering the expense and customs framework.”
The MP said, “There is a government plan that depends on automating and modernizing the work systems in these institutions, and it is expected that its implementation will be completed by the end of this year, which will contribute to enhancing revenues and ensuring better efficiency in collecting them,” and that “there is a plan that depends on automating and modernizing the work systems in these institutions.”
What’s more, the top of the Money Board of trustees, Atwan Al-Atwani, checked on yesterday, Monday, with a designation from the Adam Smith Worldwide Establishment, significant draft regulations including the Protections and Wares Regulation, the Financial Examinations Community Regulation, and the Islamic Sukuk Speculation Regulation, with the important corrections, taking note of that these regulations will be perused in the impending meetings.
Al-Atwani also talked to the delegation about the biggest problems with Iraq’s financial system, as well as the steps and priorities of the Finance Committee to find a good philosophy and good way to manage public money and the economy by diversifying income and not relying too much on oil to feed the state budget. He also said that the Parliamentary Finance Committee is currently working on changing the law of the General Authority for Monitoring the Allocation of Federal Revenues to make the most of non-oil revenues.
