Iraqi parliament speaker confirmed on Saturday that parliamentary finance committee has decided not to deduct any percentage of wages for civil servants and retired people as Iraqi government proposed for 2021 budget.
“The finance committee has decided no deduction of wages of (government) employees and pensioners in support of earlier order by the parliament to keep the salaries untouched, a statement by Mohammed al-Halbousi, parliament speaker, said.
“We have only deducted salaries of high-ranking officials and special positions, and it was approved by the finance committee” he added.
Haitham al-Jibouri, head of parliament's finance committee, confirmed the fixation of same level of wages at 2021 budget.
Iraqi government approved a 2021 draft budget of 150 trillion Iraqi dinars ($103 billion) end of December 2020 as the country wrestles with an economic and financial crisis due to low crude prices since outbreak of Covid-19 pandemic. Iraqi parliament last week said it has managed to reduce expenses and boosted revenues, decreasing budget deficit from 47% to 19%.
The draft of 2021 budget is based on a world oil price of $42 a barrel, later raised to $45 by the parliament, and expected oil exports of 3.25 million barrels per day (bpd), including 250,000 bpd from the Kurdish region, in case Baghdad and Erbil overcome their dispute over KRG’s oil exports and debts.
In a step to boost revenues, the finance ministry advised Central Bank of Iraq CBI end of 2020 to increase the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars.
Iraqi parliament is expected to ratify country’s budget next week.
Arshad al-Salihi, member of finance committee of Iraqi parliament, told KirkukNow they have decided to cut 20% of the budget allocated for the three presidincies in reference to offices of Iraqi president, Prime minister and parliament speaker.
Arshad al-Salihi, member of finance committee of Iraqi parliament, told KirkukNow they have decided to cut 20% of the budget allocated for the three presidincies in reference to offices of Iraqi president, Prime minister and parliament speaker.
“Iraq needs to get only 51 trillion IQD loan,” he added. Sailhi said budget for development of provinces has been doubled from 2 to 4 trillions IQD and petrodollar allocation from 0.5 to 1 trillion IQD.
Petrodollar allocation is a special budget for investment in oil producing provinces approved by Iraqi constitute.
The finance committee has also allocated about $200M for construction of 1000 schools all over Iraq and a special budget for building 100-bed hospital for each province, he added.
The 2021 budget earned allocations for airports in Mosul, Dhi Qar and Fao port in southern province of Basrah. Jumhuri and Ibin Sina hospitals of Mosul to be renovated, Salihi added.
Iraq ranks the fourth-largest oil reserves as oil revenues feed 95% of national budget.
