Henig » February 12th, 2023
Parliamentary Finance Sets the Value of the Deficit in the 2023 Budget
The Parliamentary Finance Committee determined the value of the deficit in the general federal budget for the year 2023 in light of the exchange rate adjustment.
Committee member Jamal Kojar said in a press interview seen by Taqadum that “adjusting the exchange rate may increase the budget deficit by at least 10-15 trillion dinars, while the price of a barrel of oil remains around $ 70, as the Financial Management Law does not allow the government to exceed the value of the budget deficit by 3%.”
He added that “the government has two options, either to compress expenditures and go towards deleting some paragraphs in the executive budget or the operational and investment budget, or accept the high deficit from 60-70 trillion Iraqi dinars,” noting that “the Finance Committee so far has not seen the size of the figures in the budget, neither old nor new after the reduction.” LINK
Source: Dinar Recaps
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