Iraqi Parliament approves $153 billion budget
Iraqi MPs during a session in the Parliament to vote on the general budget of Iraq. Photo: Iraqi News Agency
Baghdad (IraqiNews.com) – The Iraqi parliament passed the 198.9 trillion Iraqi dinar ($153 billion) budget for 2023 on Monday, which includes record expenditure on an increasing government salary bill and development projects aimed at improving services and rebuilding war-damaged infrastructure.
According to a statement provided by the Parliament’s media office, the Iraqi Parliament voted on the proposed federal budget law for Iraq for fiscal years 2023, 2024, and 2025. Iraq’s Parliament voted on Articles 50, 64, 65, 66, 67 and 68, in addition to a new article stipulating not to deal with any text, law or decision that contradicts the budget law.
The budget deficit is anticipated to be 64.36 trillion Iraqi dinars ($49.14 billion), a record high and more than quadruple the previous year’s deficit.
The Iraqi parliament approved a new article allocating 150 billion Iraqi dinars ($114.5 million) for the completion of Iraqi-Chinese projects.