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Economist: Budget amendment will raise the fiscal deficit
12/10/2024
Information/Special..
Today, Tuesday, economic expert Abdul Rahman Al-Mashhadani expected an increase in the deficit in the financial budget by the end of this year and Iraq's inability to pay its debts to international institutions during the coming period.
Al-Mashhadani said in an interview with Al-Maalouma Agency, “Amending new paragraphs in the financial budget law will lead to raising the total budget to 250 trillion, and this is beyond the available capacity, and the planned deficit rate is 64 trillion dinars.” , and will rise to 30 trillion by the end of this year, ” noting that “some proposals aim to gain electoral gains, considering that next year will witness the holding of general elections.”
He added that "all expectations indicate that Iraq's debt will increase in the coming years and may reach more than 70 percent of the gross domestic product, and thus will affect the payment of salaries, as well as the payment of interest on the debt and installments owed by Iraq to international institutions," indicating that "this matter entails major economic and political issues."
It is noteworthy that the House of Representatives previously hosted Prime Minister Mohammed Shia Al-Sudani and his deputies, the Minister of Planning, the Minister of Foreign Affairs, and the Minister of Interior, where the amendments to the budget for next year 2025 were discussed .
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