The Iraqi Cabinet to discuss the 2021 budget law

Shafaq News / Iraqi Prime Minister Mustafa Al-Kadhimi has directed to send the 2021 Budget Law to the Council of Ministers for audit.

“The Prime Minister directed the ministries of Finance and Planning to send the 2021 Budget Law to the General Secretariat of the Council of Ministers, and after that the Cabinet will hold a session to discuss the law then refer it to the House of Representatives for debate and approval.” The spokesman for the General Secretariat of the Council of Ministers, Haider Majeed, said in a statement

In the same context, A member of the Parliamentary Finance Committee, Jamal Cougar told Shafaq News agency, "The Government expenditure on public sector salaries in the general budget for 2021 is 51 trillion dinars."

In last November, Iraqi lawmakers on Thursday passed an emergency spending bill to allow the cash-strapped government to borrow abroad as the economy reels from low oil prices, although they approved less than a third of the original amount requested.

Under the new law, the finance ministry will be allowed to borrow $10.1 billion from international markets and local banks, much less than the $35 billion originally sought by the government.

Due to infighting, parliament has failed to approve a budget draft for 2020, and the urgently passed bill will only secure enough funds to get the government to the end of the year.