Iraq parliament to approve 2024 budget with adjustments after talks

Iraq parliament to approve 2024 budget with adjustments after talks

Shafaq News/ Iraq's parliament is poised to approve the 2024 budget on Monday after incorporating adjustments following discussions with the government, parliamentary sources said.

The initial proposal by Prime Minister Mohammed Shia al-Sudani set total spending at 211 trillion dinars ($142 billion), with 62 trillion dinars allocated for employee salaries. This is up from the 2023 budget of 199 trillion dinars ($134 billion).

Estimated revenues stand at 144.336 trillion dinars ($97 billion), while expenditures are projected to reach 210.936 trillion dinars ($142 billion), resulting in a deficit of 63.599 trillion dinars ($43 billion).

Parliament's finance committee is finalizing a report on the budget after lawmakers raised concerns about spending allocations.

"There are numerous parliamentary observations on the budget tables," said lawmaker Thaer al-Jubbouri from the State of Law bloc. "The committee is working on adjustments with the finance ministry."

He said the Kurdistan Regional Government's share would remain unchanged, but adjustments would be made to ensure fair treatment for central and southern governorates.

A political consensus is needed before a vote, said Mustafa al-Karawi, a member of the finance committee.

"We're waiting for agreement on the final report before proceeding," he said. Proposals include financial transfers and expenditure adjustments to reduce the deficit.

The committee previously confirmed it has no intention of returning the budget to the government.

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