Clare: Adam Smith International assists with Iraq Budget Prep
23rd October 2024 By John Lee
The Iraqi government has started discussions on the structure of the 2025 budget, with expectations for its submission to Parliament early next year, according to Atwan Al-Atwani, head of the Parliamentary Finance Committee.
State-run Iraqi News Agency (INA) says Al-Atwani hosted a delegation from Adam Smith International to discuss public financial management reforms, including tax, customs, public debt, and development fund sectors. Key financial challenges, particularly the oil revenue dependency, were highlighted, as well as ongoing efforts to boost non-oil revenues through legal reforms.
A major issue remains the oil dispute with the Kurdistan region, which the committee is actively working to resolve through dialogue. Al-Atwani also indicated that reforms are underway, including amendments to the General Authority for Monitoring Federal Revenue Allocations Law and new proposals related to Islamic bonds and financial market regulations.
Clare: Waiting to be sent.. Oil and Gas Law on the Government Discussion Table
Member of the Parliamentary Oil, Gas and Resources Committee, Kazem Al-Tawki, confirmed today, Thursday, that the draft oil and gas law is awaiting approval within the Council of Ministers, indicating that the joint committees between the federal government and the regional government are continuing their work to decide on the law.
Al-Tawki told Al-Maalouma Agency, “There are controversial articles that hinder sending the draft oil and gas law to the House of Representatives,” noting that “the draft is still in the government’s possession.”
He added that “the oil and gas law is still on the government’s discussion table,” noting that “the relevant committees are continuing their meetings in the hope of reaching an agreement on the controversial articles.”
He stressed that “there is a common vision between the governments of Baghdad and the region to complete the oil and gas law file and send it to the House of Representatives.”
