Iraqi Budget 2018 Finalized after some Amendments: Al-Tamimi

On Sunday, a member of the Iraqi Parliamentary Finance Committee, MP Majda Al-Tamimi said that Iraqi budget draft is added in today’s parliamentary session to finalize its 2nd reading. The current Iraqi budget draft includes some amendments made by the Iraqi federal government. Al-Tamimi issued a press statement that 2nd (final) reading on Iraqi budget for the financial year 2018 added in today’s session. She pointed out that 2nd reading shouldn’t be considered voting, second reading generally invite the other party for discussion. She said that objection of the Kurdish blocs, their absence, and their criticism has been considered unreasonable. She pointed out that the Iraqi government has made some alteration regarding income and expenditure. She explained that total amount of revenue in the budget 2018 was allocated at 90.9 trillion Iraqi dinars. It has become 90.6 trillion Iraqi dinars after the alteration.

Iraqi Budget 2018 Finalized after some Amendments: Al-TamimiThe 2nd alteration ultimately increased the total amount of expenditures. The total expenditure amount before the amendment was 103.9 trillion Iraqi dinars and it reached at 104.1 after 2nd alteration. She added that the expenditures regarding investment have been increased from 24.4 to 24.6 trillion Iraqi dinars. A paragraph of the Council of Ministers also added, including the allocations of 2 trillion Iraqi dinars regarding the emergency reserve. This allocation might be used to fill the shortfall in the calculation of employee compensation, social protection network, and investment expenses. Al-Tamimi also said that the paragraph regarding the oil-producing provinces has been altered. If the revenue increases the disposal of the amounts owed past and subsequent, in the event of higher revenues. More than 10% also added in the sales tax on goods sold in malls, shopping centers, beauty centers, and men’s & women’s haircut. Al-Tamimi also confirmed that Iraqi budget for the fiscal year 2018 is at its final stage.

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