Baghdad, The economist, Nabil Al-Marsoumi, confirmed the existence of three variables that delay the approval of the current year’s budget.
Al-Marsoumi said in a statement to the National Iraqi News Agency (NINA): “The issue of the budget and its delay has nothing to do with the fluctuation of the exchange rate, because the budget is always based on an official exchange rate specified by the Ministries of Finance and Planning.”
He explained: “The delay is linked to three variables. The first is the large size of the budget, especially in its operational aspect, which exceeded 260 trillion dinars, and the desire to reduce it because it involves a large deficit.”
He added: “The second variable is the share of the Kurdistan region, which became more complicated after the Federal Court’s decision not to transfer the sums to the region… and the third variable is the political pressure to adjust the exchange rate of the dollar in the budget from 1450 to 1350 dinars.”
Source: National Iraqi News Agency