Iraqi parliament to conduct first reading of 2021 budget bill

Economy 11:06 AM - 2021-01-09

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On Saturday, the Iraqi Parliament is scheduled to conduct the first reading of the 2021 Iraqi budget bill, where the Kurdistan Region's share in the budget is set at 12.67%.

 

MP Jamal Kochar, a member of the Iraqi Parliamentary Finance Committee, said during a special statement to PUKmedia: "The draft federal budget bill has reached the Presidency of the Council of Representatives (Iraqi Parliament) and Saturday evening has been set as date for the session of the Council of Representatives to discuss the budget.

 

He added: "After that, the draft budget law will be delivered to the Finance Committee for discussion," noting that the committee has the authority to reduce the numbers and transfer the budget.

 

He explained: "The Finance Committee needs time to discuss the cuts and transfers with the relevant government agencies, so I think that these meetings and discussions will continue for a period of 20 to 30 days."

 

He said: "After that, the Finance Committee will submit the budget bill and its special report to the Council of Representatives, which will in turn conduct the second reading of the bill and vote on it.

 

According to the budget bill that was sent to the Iraqi parliament after its been approved by the Iraqi council of ministers, the Kurdistan Region's share is 12.67% on conditions that the Kurdistan Region must deliver a daily 250,000 barrels of oil to the Iraqi oil marketing company SOMO and 50 % of non oil revenues to the Iraqi government.

 

 

 

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