Adviser to the Prime Minister: Budget schedules will be decided in the middle of this month

RJG · April 2, 2024

Adviser to the Prime Minister: Budget schedules will be decided in the middle of this month

Time: 04/02/2024 02:07:17
Read: 2,795 times

{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, expected that the approval of the budget schedules would be decided in the middle of this month of April.

Saleh said, in a press statement, that “the issue of budget schedules is expected to be decided, most likely, in mid-April.”
He added, "The tripartite federal general budget included in Law No. 13 of 2024, a medium-term financial plan, was not devoid of the principle of its annuality in the issue of preparing annual schedules and submitting them to the House of Representatives for approval, specifically for the two years (2024, 2025)."
He stressed, "The law approving the tripartite budget constitutes an expression of mutual trust between the legislative and executive authorities to manage public financial affairs in our country in a way that ensures the continued implementation of investment projects and the communication of adopting new projects in an integrated, planned manner."
Saleh continued, “Annual government spending constitutes approximately 50% of the value of the gross domestic product directly, and exceeds 80% indirectly by influencing the business cycle and general market activities and building its positive expectations and stability.”
He stated that "the three-year budget was the first experiment that was approved in the country's financial history and was adopted based on an explicit legal text stated in the amended Federal Financial Management Law No. 6 of 2019. Therefore, it has become necessary to document this financial experiment, which is rich in its economic implications, and to evaluate its results and the requirements for its implementation in the future." When proceeding with its adoption again, including a proposal to study making an appropriate amendment to some provisions of that Financial Management Law in light of what emerged from the experience of implementing the Tripartite Federal General Budget Law.”
A few days ago, the Council of Ministers received the budget schedules from the Ministry of Finance, and began working on them to sign them and send them later to the House of Representatives.