the Ministry of Finance is moving towards completing final preparations for the 2025 budget schedules inside the following few days. meanwhile, parliamentary finance committee member Moeen Al-Kadhimi harassed the need for those schedules to mirror the modern-day monetary truth, in particular in mild of the decline in oil fees.
Al-Kadhimi defined in a assertion to dinaropinions.com that “the schedules the ministry is working on are recurring and had been organized in keeping with a protracted-status mechanism,” including that it’s far in all likelihood that “they will be supplied to the Finance Committee after the Eid al-Adha holiday, in which they may be expected to be reviewed in a unmarried session in the course of which guidelines can be offered and ratified with the aid of Parliament.”
He defined that “the residence of Representatives has the authority to lessen economic allocations without growing them,” adding that “the Finance Committee intends to apply this right to govern the dimensions of public spending and align it with available assets.”
He pointed out that “the 2023 price range amounted to 199 trillion dinars, however the real expenditure did no longer exceed 146 trillion dinars. As for 2024, the price range become anticipated at 211 trillion dinars, whilst best 156 trillion dinars were carried out up to now.”
Al-Kadhimi confused that “the 2025 budget schedules have to be greater sensible and based totally on real sales, now not estimates,” emphasizing “the need to bear in mind the financial challenges related to declining oil sales, while attaining a stability between the requirements of ministries and the aspirations of governorates on the only hand, and the government’s real ability to finance on the alternative.”
