Iraq's Parliamentary Finance Committee rules out returning 2024 budget to Government

Shafaq News/ Iraq's Parliamentary Finance Committee stated on Thursday that neither the committee nor the Parliament intends to return the 2024 budget tables to the Federal Government.

Hussein Mounes, a member of the committee, told Shafaq News Agency, "The Parliamentary Finance Committee hosted the Ministers of Finance and Planning last Monday to discuss various topics related to the budget tables, including answering committee members' questions about increasing financial allocations to ministries and reducing funds allocated to governorates."

Mounes added, "The ministers responded to the questions posed before the committee," explaining that "the increase in financial allocations to ministries was due to the rollover of funds from the previous year."

He affirmed that "funds allocated for provincial projects can be utilized this year," noting that "the Parliamentary Finance Committee will work on reallocating funds from ministries to governorates, as well as reducing the deficit in the budget tables."

"There is no intention to return the budget tables to the government, and the parliament will discuss the budget law tables and then approve them in a special session."

In June 2023, Parliament approved the Federal Budget Law for 2023-2025, totaling 197 trillion dinars, with a deficit of 63 trillion dinars, approximately one-third of the budget.

PM Mohammed Shia Al-Sudani revealed that the 2024 revenues are around 144 trillion and expenses are at 210 trillion, leaving a deficit of 63 trillion dinars.

Last Sunday, the Iraqi Cabinet approved the 2024 budget and sent it to Parliament for approval.

Iraq's Parliamentary Finance Committee began reviewing the 2024 federal budget on Wednesday, a day after receiving it from Acting Speaker Mohsen Al-Mandalawi.