Baghdad: The Parliamentary Finance Committee has confirmed its commitment to collaborate with the government to swiftly approve the general budget law. This development comes as part of a broader effort to address the economic challenges facing the country.

According to National Iraqi News Agency, MP Ahmed Hama Rashid, a member of the Parliamentary Finance Committee, stated that Parliament is currently reviewing 41 laws submitted by the government. These laws are under the examination of relevant committees, with particular attention given to those proposed by the Minister of Finance. Among these are the Loans and Grants Law and the Leaves Law, which are expected to be passed alongside the draft general budget law being prepared by the Ministry of Finance.

Rashid further explained that an agreement has been reached with the Minister of Finance to have him hosted by the Parliamentary Finance Committee twice a month. These meetings will alternate between the committee and the ministry, allowing MPs from various committees to participate in discussions on the program and performance budgeting strategy.

A member of the Finance Committee also confirmed that while the salaries of state employees are secured, Iraq’s economic crisis has impacted oil and non-oil revenue rates. As a result, borrowing has been identified as a viable solution to increase revenue in the current economic climate.