The Economy News – Baghdad
The Parliamentary Finance Committee asked the federal government to prepare a semi-annual budget and send it to the House of Representatives for approval, in order to run the country’s financial affairs.
The committee’s rapporteur, Ahmed Al-Saffar, said in a statement reported by the official Al-Sabah newspaper and seen by “Al-Iqtisad News,” that “the committee was waiting for the government to send the budget to the parliament yesterday, Tuesday 6/30 according to the scheduled date.”
Al-Saffar added that “after delaying the budget, the government will rely on the monthly interim budget 1/12”, stressing, “The government should not rely on the 12/12 monthly budget for 2019, because the disbursement and revenue process requires a legal cover represented by the budget law.”
He explained that “either a monthly budget is passed, or a bi-annual budget law is sent for approval in the House of Representatives.”
Al-Saffar pointed out that “work without a headquarters budget law will not allow the parliament to exercise its oversight role over exchange and revenue, so we are waiting for the government’s opinion,” noting that “legal solutions lie in the approval law, which is not a substitute for the budget, so the committee agreed to Approving the budget so that the government can provide liquidity to implement its obligations, and that what is related to spending and revenue must have a legal cover. ”
The decision of the Finance Committee, Ahmed Al-Saffar stressed that “the implementation of Law 12/1 is not permissible in such circumstances, because the general situation of the country differed, and everything related to revenues, oil prices and exchange gates also changed, so without a budget approval the government is not entitled to receive any revenue , And the only legal cover is the budget law. ”
He said that “the committee communicates with each other via the Internet because of the health status of the Corona pandemic and the disruption of the council.” Of the investment approved by the House of Representatives within the borrowing law, and up to 15 percent of the amounts borrowed for ongoing projects in the 2019 Budget Law, and approved in the House of Representatives, with work to prepare the budget of 2021, both operational and investment, and that is the legal solution.
Al-Saffar reiterated that “the government should focus on the operational side of the semi-annual budget, as well as focus on the investment side for 2020 relocating to the budget of 2021, and that the government start preparing a draft budget for 2021.”
It is reported that yesterday, Tuesday, June 30, the supposed legal period for sending the general budget to 2020 to parliament expired without accomplishing this, so that parliamentary requests to prepare it for six months or a month only come.