Iraqi cabinet votes on federal general budget
The Iraqi Prime Minister, Mohammed Shia Al-Sudani, during a meeting with his cabinet. Photo: PMO
Baghdad (IraqiNews.com) – During an extraordinary session on Sunday, the Iraqi cabinet approved the federal general budget for 2024.
Following the cabinet’s approval, the federal general budget will be sent to the Iraqi Parliament for approval, according to a statement released by the Prime Minister’s Office (PMO).
According to Moeen Al-Kadhimi, a member of the Parliamentary Finance Committee, the Iraqi government increased the budget law’s total value from 199 trillion dinars (approximately $152.5 billion) to 228 trillion dinars ($174.7 billion) for the 2024 budget, Shafaq News reported.
The Acting Speaker of the Iraqi Parliament, Mohsen Al-Mandalawi, and the Iraqi Prime Minister, Mohammed Shia Al-Sudani, reached an agreement at the end of April about the need to finalize the budget law schedules for 2024 and expedite their submission to the Iraqi Parliament for vote.
Despite the difficulties encountered by the government in drafting the 2024 budget, attempts to curb expenditure and raise income in order to attain financial balance are still on.
The government and the Iraqi Parliament continue to view cutting the deficit, which has increased to about 80 trillion dinars (about $61.3 billion), as their primary concern.