Economy
breaking
Staff salaries
Budget law
2020-09-14 11:03
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Shafaq News / Ahmed Mulla Talal, spokesman for the Iraqi Prime Minister, Mustafa Al-Kazemi, announced on Monday that the 2020 budget voted by the Council of Ministers secured salaries for employees and retirees and social care.
In a press conference attended by the correspondent of Shafaq News Agency, Malal Talal said, “This year’s budget came in order to regulate the government spending process for the next 3 months, and to regulate the process of internal and external borrowing.”
He added that “Al-Kazemi described the current year budget as being exceptionally simple,” noting that “the deficit in the 2020 budget is large.”
Mulla Talal pointed out that “there is continuous work to prepare the 2021 budget, and it will be voted on by the Council of Ministers within 30 to 45 days,” noting that “it will be different and will address many issues of concern to citizens.”
Mulla Talal did not reveal the details of the 2020 budget figures.
A document issued by the Ministry of Finance two days ago stated that the value of the proposed budget amounts to 120 trillion and 160 billion Iraqi dinars, with a deficit of 70 trillion and 637 billion Iraqi dinars.
According to the document, 48 trillion and 953 billion Iraqi dinars were covered from the deficit, and the remaining 21 trillion and 684 billion Iraqi dinars were covered.
Iraq did not pass the fiscal budget law as a result of the protests crisis that has swept the country since October 2019 and toppled the previous government.
Mustafa Al-Kazemi’s government faced difficulties in preparing the draft budget at a time when the country suffers a stifling financial crisis, caused by the collapse of oil prices in world markets, as the country depends 97 percent on oil revenues to finance the country’s annual budget.
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