Latest news with #FederalBudgetLawNo.13
Shafaq News
16-04-2025
- Business
- Shafaq News
PM al-Sudani's advisor: Iraq's budget submission stalled by KRG oil
Shafaq News/ Iraq has delayed the submission of its 2025 federal budget to parliament, citing technical adjustments linked to oil-related expenditures in the Kurdistan Region, a senior government advisor confirmed Wednesday. Mudhhir Mohammed Saleh, Financial and Economic Adviser to the Prime Minister, told Shafaq News that the postponement stems from amendments to the Federal Budget Law No. 13 of 2023—particularly Article 12, which was revised in February. The changes, he noted, have complicated the finalization process due to their impact on the financial arrangements with the Kurdistan Region. 'Signs of a global oil market downturn are becoming evident due to geopolitical volatility, the Russia-Ukraine conflict, instability in the Middle East, and recent OPEC+ decisions.' On Tuesday, the Parliament's Finance Committee expressed concern over the delay. Member Saad Al-Noubi remarked that Planning Minister Mohammed Tamim and Finance Minister Taif Sami had previously assured lawmakers that the tables were ready for Cabinet review.
Iraq Business
05-03-2025
- Business
- Iraq Business
Iraq Approves Loans from France for Sewerage Projects
By John Lee. The Iraqi Council of Ministers has authorised the Minister of Finance, or her delegate, to sign a loan agreement with the Agence Française de Développement (AFD) to finance the Al-Hamza District Sewer Project in Al-Diwaniyah Province. This approval falls under Federal Budget Law No. 13 of 2023, covering fiscal years 2023-2025, for the benefit of the Ministry of Construction, Housing, Municipalities, and Public Works. Additionally, the Council approved an amendment to Resolution No. 356 of 2021, which includes: Authorising the Minister of Finance to sign an amendment to the additional financing loan agreement for the Al-Khalidiya Sewerage Project, funded by AFD, under the same budget law. Authorising the Minister of Finance to sign the additional financing agreement for the project. AFD, the French Development Agency, is a public financial institution that implements France's development and international solidarity policies. (Source: PMO)
