The Iraqi Council of Ministers in mid-March approved the federal budget bill for the years 2023, 2024, and 2025, which is currently before the Iraqi parliament.
Sudani “highlighted the importance of collaboration between the government and the Council of Representatives to support the government's service programs and accelerate the approval of the Federal Budget Bill,” read a statement from the premier’s office.
The statement from Sudani’s office said that the approval was essential to carry out the cabinet’s agenda and for the country’s economy and development.
The draft for the federal budget bill was first sent to the parliament on March 17. The first reading by the parliament was conducted on April 5, but the legislature is yet to pass the highly-awaited bill.
The draft budget sets out $152 billion in spending for 2023, of which the Kurdistan Region takes a 12.6 percent share.
Iraq did not have a budget in 2022 because it took a year of negotiations to form a government after October 2021 elections.
The lack of a budget jeopardized the oil-dependent economy and prevented the government from taking advantage of soaring oil prices following Russia's invasion of Ukraine to combat poverty and bring much-needed economic stability.
