Parliamentary Finance: Parliament will need 30-45 days to pass the budget

The parliamentary committee confirmed, on Tuesday, the need for 30-45 days to discuss the budget in parliament before voting on it, noting that there is a political consensus to pass it, while it showed that the adoption of $70 per barrel in the budget is realistic and not worrying.
“The draft budget approved by the government is expected to reach the House of Representatives next week and the House will begin to be discussed by the Finance Committee and we believe that it will require between one to one and a half months to be delivered to half,” committee member Moeen Al-Kazemi said.
He added, “The parliamentary committee will discuss the issue of the fixed deficit in the budget of 64 trillion dinars and how it is covered, and there is a political consensus to pass the budget and after considering its items and doors to start implementing what was stated in the ministerial program of the government of Prime Minister Mohammed Shiaa Al-Sudani.”
He added that “the Financial Management Law allowed the government to submit a budget for (3) years and provided that the first year is mandatory in the sense that it is approved, while amendments can be made to the budgets of 2024-2025 with the proposal of the Ministries of Finance and Planning and the approval of the House of Representatives.”
He pointed out that “the dependence of the budget on the price of $70 per barrel of oil is realistic and determined by specialists and does not raise concern because the global forecast indicates that oil prices will stabilize by these limits or more during the current year.” Ended 29/h