Finance Committee: We Have Reached The Final Stages Of Resolving The General Budget Law

18/05/2023

1986

Earth News / The Finance Committee confirmed, on Thursday, reaching the final stages of resolving the General Budget Law.

A statement by the Media Department of the House of Representatives said in a statement, and Earth News responded, that “the Finance Committee was held under the chairmanship of the Chairman of the Committee, Atwan Al-Atouni, and the attendance of its members, a meeting that lasted late Wednesday evening, on the finalization of the Federal Budget Law for the fiscal years 2023-2024-2025, in preparation for submitting it to the Presidency of the House of Representatives for inclusion on the agenda of the Council.”

During the meeting, Al-Atouni stressed that “the committee has reached the final stages of resolving the general budget law,” pointing to “the need to support strategic projects and follow development paths, provide the necessary resources to develop priority sectors, improve public services and infrastructure, and contribute to the investment of natural resources in order to achieve financial and economic stability of the state, in accordance with the implementation of the government program.”

The statement added that “the committee held extensive discussions on the process of determining the need of spending units from financial allocations for the possibility of conducting transfers, ensuring exchange priorities, maximizing non-oil revenues, as well as emphasizing the involvement of the private sector, to contribute to improving production and continuing projects.”

The members of the Finance Committee made their observations on the validity of the general budget for one or three years, the allocations for the development of the regions, as well as the audit of the legal texts received, while a number of articles contained in the law were voted on within the committee.

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