On Wednesday, the Parliamentary Finance Committee identified the body responsible for amending the 2024 budget and disclosed the funds spent in 2023.
During an interview with the committee member, Moeen Al-Kazemi, he mentioned that the budget approved in mid-2023 is a tripartite budget, which implies that it will be valid for three years. The budget was estimated at 198 trillion Iraqi dinars, covering operational and investment expenditures.
He mentioned that the government spent only 140-150 trillion dinars last year instead of 198 trillion dinars, but there was no deficit in the budget.
A Finance Committee member stated that the budget for 2023, consisting of 78 articles and schedules A, B, C, D, and E, will be adopted as the current year’s budget.
Al-Kadhimi announced that the current year’s budget will be revised in accordance with the government’s activities. The budget was already approved by the House of Representatives and is currently being implemented. Al-Kadhimi emphasized that the government is solely responsible for making any amendments to the current year’s budget law.
Economic expert Nabil Al-Ali emphasized the need for the government to present a schedule of budget expenditures for the current year. He also stated that the government would negotiate with political forces to pass amendments.
The Council of Ministers recently approved a budget that extends until the year 2025. This budget, which is being referred to as “tripartite,” has been receiving positive feedback from economic experts. The budget includes provisions that support increasing rates of sustainable development, particularly in the areas of health and education. These paragraphs have been especially praised for their significance.
