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Parliamentary Finance: The deficit in the 2021 budget exceeds 44%
Economy News - Baghdad
The Parliamentary Finance Committee announced that the fiscal deficit in the 2021 budget bill exceeds 44% of the total budget.
The head of the Parliamentary Finance Committee, Haitham al-Jubouri, said during the parliament session that was followed by "Al-Iqtisad News", that "the committee has reservations about the large deficit in the 2021 draft budget because it violates the Financial Management Law."
He added that the deficit in the draft budget amounts to 71.5 trillion dinars, which constitutes more than 44% of the total budget, explaining that addressing this deficit is from internal borrowing and thus increases the burden of the state treasury.
He pointed out that there is a large gap in government spending during the current year budget, compared to 2019 and 2020.
The parliament began yesterday, Saturday, to read the draft budget for the year 2021, amid reservations by some political blocs on the mechanism of formulating it.
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