Economic expert Salah Nouri confirmed on Thursday that the amended Financial Management Law No. 6 of 2019 contains flexible provisions that allow the government and the Ministry of Finance to continue operating even if the federal budget is delayed in Parliament.
Speaking to dinaropinions.com, Nouri explained that Chapter Three, Article 13 of the law outlines the steps to follow when the budget is not approved on time. The article allows the government to spend up to 1/12 of the actual current expenditures from the previous year and also permits the use of ongoing investment allocations carried over from the prior year.
He added that the final financial statements of the previous year become the reference point for the current year’s financial reports, which are then submitted to the House of Representatives for approval.
