Iraq's Parliamentary Finance Committee to discuss amending Budget Law
Shafaq News/ Iraq’s Parliamentary Finance Committee is set to discuss amendments to the country's public budget law in the coming days, with officials from both the federal government and the Kurdistan Regional Government (KRG).
Faisal Al-Naili, a member of the committee, told Shafaq News that the committee would hold a meeting soon to discuss the proposed changes to the budget law. “Following the meeting, several officials from the Ministry of Finance and Ministry of Oil, as well as KRG representatives, will be invited to attend discussions.”
Al-Naili explained that after reviewing the amendments and hearing from officials, a date for the second reading of the law will be set.
In late November, the committee examined the draft of the first amendment to the federal budget law for 2023-2025 (No. 13 of 2023).
Atwan Al-Attwani, head of the committee, stressed the importance of these laws, noting the formation of a committee to assess and monitor revenue distribution to achieve sustainable development.
The committee also reviewed provisions of the First Amendment to the law on the export of oil in the Kurdistan Region, stressing the importance of refining the law to meet the required objectives, including the collection of detailed data and figures.
Additionally, the committee discussed the proposed amendment to the Federal Revenue Allocation Monitoring Authority Law (No. 55 of 2017).
The Iraqi parliament approved the 2023-2025 budget law in June of last year, with a total value of 197.828 trillion Iraqi dinars ($152.2 billion) for 2023, and a budget deficit of 64.36 trillion dinars ($49 billion).
