The Iraqi parliament held its first reading of the 2023, 2024 and 2025 budget bills late last night in the presence of 235 MPs. The session was chaired by First Deputy Speaker Mohsen Mandelawi and attended by Second Deputy Speaker Shakhawan Abdullah.
The Iraqi parliament held its first reading of the 2023, 2024 and 2025 budget bills late last night in the presence of 235 MPs. The session was chaired by First Deputy Speaker Mohsen Mandelawi and attended by Second Deputy Speaker Shakhawan Abdullah.
After the first reading of the budget bill, Mohsen Mandelawi asked the Finance Committee to prepare their comments on the bill, so that the second reading as soon as possible.
The total size of the budget is more than 198 trillion dinars, of which the Kurdistan Region's share is 12.67%, and the budget deficit is 63 trillion dinars, the average revenue of Iraq is 134 trillion dinars.
The Iraqi Council of Ministers on Monday approved the federal budget for the 2023, 2024 and 2025 fiscal years and sent it to the House of Representatives.
"The deficit in this year's budget will reach 63 trillion dinars, which will be filled from other sources, including the amount of money from the Ministry of Finance," government spokesman Bassem Awadi told the official Iraqi news agency The revolving share of the treasury is accumulated in the central bank, bonds and domestic debt.
“The amount of oil exported in this year's budget is 3.5 million barrels per day, of which 400,000 barrels will be through the Kurdistan Region,” he said It will be exported.”
Oil revenue is estimated at 117 trillion 252 billion dinars and non-oil revenue at 17 trillion 301 billion dinars.
The total proposed expenditure is 197 trillion 828 billion dinars, while investment projects are 47 trillion 555 billion dinars.
