Al-Kazemi’s advisor sets a condition for depositing the financial surplus in a sovereign fund


Economie| 11:34 – 01/05/2022

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Baghdad – Mawazine News
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, set, today, Sunday, a condition for depositing the financial surplus in a sovereign fund, while indicating that spending on social spending and addressing poverty will be the first priority.

Saleh said, “Based on the text of Article 19 / Second of the amended Federal Financial Management Law No. 6 of 2019, if the actual revenues exceed the total expenses or expenditures, including financing the planned deficit in the annual budget, the surplus amount is deposited in a (sovereign fund). Provided there is a budget law, and otherwise, the mentioned financial surpluses will be deposited in a reserve account and will undoubtedly be an opening balance in financing the federal general budget for the year 2023 in whole or in part, according to the exchange chapters and its future priorities.

Saleh added in an interview with the official news agency, Mawazine News, that “expenditure on social spending and addressing poverty will be the first priority, in addition to the ease with investment spending associated with the implementation of strategic projects that operate work and inevitably generate income.” Ended

https://www.mawazin.net/Details.aspx?jimare=191826

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