Details of a ministerial meeting regarding the 2024 budget schedules

Details of a ministerial meeting regarding the 2024 budget schedules

On Wednesday, the Ministry of Planning announced a ministerial meeting to prepare this year’s budget schedules.

The Ministry issued a statement: “Today, an extensive meeting was held at the Ministry of Oil, chaired by the Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim. The meeting was attended by the Deputy Prime Minister for Energy Affairs, the Minister of Oil, Hayan Abdul-Ghani, and the Minister of Finance, along with Taif Sami, the Minister of Oil and Natural Resources in the Kurdistan Regional Government, Kamal Muhammad, and his team. The undersecretaries of the Ministries of Planning and Oil, along with several directors from the two ministries and the Ministry of Finance were also present.”

During the meeting, they discussed preparing the 2024 budget schedules, including operational and investment aspects, based on expected oil prices and revenues.

During the meeting, the Minister of Planning emphasized that the government is determined to complete the schedules within this year’s budget as soon as possible and submit them to the House of Representatives for approval. He also mentioned that they have considered the amount of oil exported, including the share of Kurdistan region, along with Iraq’s commitments to the production quotas specified by the OPEC Plus organization.

The Oil Minister emphasized the significance of the budget, highlighting the need to complete the spending and financial revenue schedules. He stated that the Ministry of Oil is putting in great efforts to secure the production and export of oil, and generate appropriate revenues to finance the budget.

Minister of Finance Taif Sami stated that the Ministry aims to achieve budget balance and secure funding for essential spending, whether operational or investment.

The Minister of Oil in the Kurdistan Region, Kamal Muhammad, expressed that the region is prepared to cooperate with oil exports as approved by the budget law.