On Friday, the Finance Committee of Parliament confirmed that the 2024 budget schedules still need to be submitted to Parliament. However, the total revenues and expenditures need to be reconsidered.
According to Mustafa Al-Karawi, a committee member, no letter has yet been received from the Prime Minister regarding the 2024 budget. However, it is generally assumed that the new budget will be reconsidered based on the expected oil prices and quantities exported according to the OPEC decision. He added that if any changes occur in these three numbers, the rest of the budget schedules will also undergo a major change.
Al-Karaawi clarified that the budget schedules will undergo major changes due to the redistribution of expenditures across different spending lines based on available amounts and anticipated revenues. He added that political forces are particularly interested in budget items, especially in the Kurdistan region, in terms of actual expenses and other factors.
He emphasized that the committee is committed to ensuring social justice among all the governorates. He also mentioned that everyone must pay their actual expenses. These are the main factors that will determine the differences in the budget in the upcoming period.
He said they plan to submit the data for the 2024 budget after the legislative recess, with the intention of expediting the amendment process.
Al-Karaawi has confirmed there is no official decision yet regarding fuel prices, but the process of fuel processing is being regulated by converting it to electronic form and using payment cards.
