Parliamentary Finance reveals to / Nina / details of preparing next year’s budget: No change in the currency exchange rate

Monday 07, June 2021 16:57
 
Baghdad / NINA / - The Parliamentary Finance Committee revealed the details of preparing the draft federal budget law for the next year 2022.

In a statement to the National Iraqi News Agency ( NINA ), a member of the committee, Representative Jamal Kougar, said, "According to the Financial Management Law, the Ministry of Finance must decide on the budget in June and ask all governorates and ministries to submit their budgets to mid-August. At that time, the ministries of Finance and Planning are supposed to prepare the draft. The priority for the budget law is to be submitted to the House of Representatives on October 15.”

He added, "The government has formed a ministerial committee to prepare next year's budget with the participation of members of the Finance Committee within the budget law meetings and discussions," noting that "if the elections are held on October 10, the next government will arrive until the formation of the new legislative session and the assignment of the largest bloc and the granting of confidence to the new cabinet. Until next March, the discussion of the budget law will be automatically delayed at that time,” calling on the current government to submit the 2022 draft budget and be ready for discussion in the House of Representatives, if the elections are held on schedule and a new government is formed.

And about the possibility of changing the currency exchange rate in next year’s budget, he explained that “the current economic conditions do not allow the government to resort to such an option, and it is the exclusive prerogative of the Central Bank and no one else.”/ Ended 5

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