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Parliamentary Finance resolves all disputes over the budget bill, a source reveals

Category: Iraq News

Date: 2021-03-28T16:48:41+0000
Parliamentary Finance resolves all disputes over the budget bill, a source reveals

Shafaq News / A source in the Parliamentary Finance Committee revealed that all disputes over the budget bill were resolved in today's meeting, indicating that the Presidium will hold another meeting with the heads of political blocs and the ministers of finance and planning. 

"A meeting will be held between the Presidium, heads of political blocs, the Parliamentary Finance Committee, and the Ministers of Finance and Planning to discuss several issues in the budget, including international loans and investment projects," he added.

The source pointed out, "after the meeting, the date for voting on the budget bill may be determined in today's session."

Shafaq News Agency correspondent reported that Iraqi ministers of Finance Minister and planning,  Ali Allawi and Khaled Battal, participated in the Parliamentary Finance Committee meeting to finalize the 2021 budget bill.

Earlier today, MP of al-Hikmah bloc, Ali Al-Budairi, revealed that the political blocs agreed to table the voting upon the budget bill until Thursday if today's session does not crack down its enigma.

Al-Budairi told Shafaq News agency, "meetings are underway between the Presidium of Parliament, the heads of political blocs, and the Parliamentary Finance Committee, to eliminate the obstacles and controversy and resolve the budget law issue during today's session."

He indicated, "the parliament members are determined to vote on the budget bill today", noting, "the voting percentage on the draft in today's session was 70%."

"The political blocs agreed that Thursday is the final deadline to postpone voting on the budget if they do not reach an agreement today", Al-Budairi added.

The Iraqi Parliament had failed to pass on the federal budget bill for 2021, following the continuing disagreements over some items.

The budget allocations are estimated at 130 trillion Iraqi dinars (about $ 89.6 billion).

Article 11 of the draft budget stipulates the Kurdistan region will deliver 250 thousand oil barrels daily and tax revenues to Baghdad to receive a share of 12.6% of the budget.

However, some political blocs are demanding to add a text that holds anyone who decides to spend these funds to the region legally responsible if the oil is not delivered to the federal government.

Other blocs refuse to vote on the budget before modifying the dollar's rate and returning it to its normal state of 1168 thousand dinars per $ 100.

The oil-dependent state of Iraq has been plunged into a stifling financial crisis due to COVID-19 pandemic that tampered oil demand and oil prices consequently.

Yesterday, Deputy Speaker of Parliament, Bashir Al-Haddad, announced the results of the Parliamentary Finance Committee meeting with several ministers regarding the federal budget law, stressing the need to address the rise in food and commodity prices.

Al-Haddad said in a statement that the meeting discussed the federal budget bill articles and decided to include them in tomorrow's session agenda.

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