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Economy News _ Baghdad
On Sunday, the Parliamentary Finance Committee confirmed that talking about the size of the budget deficit is premature.
Committee member Ahmed Hama Rashid said in a press statement seen by Al-Iqtisad News, “Talking about the size of the budget deficit is premature and misplaced, given that the budget was not legislated, and we are also preparing for the budget of 2021,” noting that “ The current government is to conduct business and it is not entitled to prepare the budget according to Article 41 of the internal system, and when forming the government we may reach the month of May of the current year. "
He added, "According to the Financial Management Law, in the middle of May, it is necessary to start preparing for the budget for the next year, and therefore talking about the budget deficit is something that has no place in the actual situation on the ground."
Rashid said, "The government has already started, since the first month of this year, to spend 12/1 of the budget for operating expenses and salaries, and this matter is not related to oil prices or budget deficits, given that we have no loss or profit, because what is spent is related to the numbers in a general budget 2019 ".
Rashid stressed, "The salaries of the employees are safe even if the oil prices drop to less than thirty dollars, and it cannot be affected, because it depends on the ratio of one to 12 of last year's budget."
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