Iraq: 45% financial deficit in the 2020 budget

Shafaq News / The Parliamentary Economic and Investment Committee revealed, on Wednesday, the federal budget deficit for the year 2020, indicating that it focuses on securing salaries and supplies for the people in need, as well as facing the Corona pandemic.

A member of the committee, Ali Al-Lami, told Shafaq News agency, “The draft of the general budget for the year 2020 does not contain any investment allocations, and focused only on securing the salaries of employees and retirees, and providing financial allocations to the Ministry of Health to confront the Corona pandemic.”

He added that "the financial deficit in the 2020 budget is 45%," noting that "budget financing depends on oil and non-oil revenues, in addition to financial loans that the government has directed to within the fiscal borrowing law for the year 2020."

A spokesman for the Prime Minister, Ahmed Mulla Talal, tweeted earlier, “in order to organize the spending process and secure the necessary expenditures for the remaining three months of the fiscal year, and as a commitment from the government to the decision of the Council of Representatives, the Cabinet approved the draft Federal Budget Law 2020, and send it to the House of Representatives."