For not tying Iraq with debt .. A representative committee calls for the approval of this budget

[yota691]

For not tying Iraq with debt .. A representative committee calls for the approval of this budget

•  Time: 7/20/2020 20:59:11
•  
•  Reading: 3,367 times

  

{Baghdad: Al Furat News} A member of the Committee for Monitoring the Implementation of the Government Program and Strategic Planning, Inaam Al-Khuzai, called for financial adjustment in light of the fluctuations in oil prices and the continuation of the Corona pandemic.

Al-Khuza’i said in a statement, {the Euphrates News} received a copy of, that “although the Financial Management Law No. (6) for the year 2019 in Article (13) / third, in the event that the Federal Budget Bill has not been approved for a specific fiscal year, the final financial statements are For the previous year, a basis for the financial statements for this year was submitted to the House of Representatives for the purpose of approval, "noting that" of course this does not fit the financial and economic reality that Iraq currently lives due to the Corona pandemic and the collapse of oil prices. "
And she warned against "approving the disbursement (1/12) of the 2019 budget due to insufficient oil revenues needed to finance public expenditures, and the Ministry of Finance recently issued a report on the rate of public expenditures and revenues until April 2020," noting that "the report discloses that the total expenses were (22,564) One trillion dinars during the first four months of the year, which means that the monthly rate of spending is approximately (5.5) trillion dinars, while Iraq achieved total revenues of (22,571) trillion dinars.
Al-Khuza’i indicated, “In light of the oil revenues accrued last June (approximately 3.5) trillion dinars, the fiscal deficit is expected to be approximately (2) trillion dinars only, which means that Iraq’s need for internal borrowing will not exceed (12) trillion dinars during the months The rest of the year 2020 instead of (15) trillion dinars proposed by the government as an internal borrowing to finance the deficit.
According to all available data to Khuzai it called " the government 's commitment to the adoption of the monthly budget for fiscal adjustment with fluctuations in oil prices on the one hand and not burdening the economy and the citizens of internal and external debts is required on the other hand , " .anthy
Wafa Fatlawi