Eco
Prime Minister Ali Al-Zaidi announced the imminent submission of the general budget bill to the Parliament for approval, affirming that the government is currently finalizing the project and will send it soon. Al-Zaidi explained in a televised interview that the government has not halted the disbursement of financial entitlements or the funding of essential needs while awaiting the budget's approval, but has taken measures to secure the necessary funds for vital sectors. He pointed out that the government has released dues to farmers and contractors, in addition to allocations for medicine, food, and other basic necessities, emphasizing that the budget project takes comprehensive consideration of economic, financial, and social aspects. He confirmed that the country's economic and financial situation in the coming year will be better than the current year, thanks to the economic reforms the government is implementing. He added that citizens will notice the results of these measures and reforms during the next year. Regarding non-oil revenues, the Prime Minister revealed a government plan to increase the contribution of these revenues to the general budget and reduce dependence on crude oil sales. He explained that non-oil revenues previously accounted for between 6 and 8 percent of total revenues, while in the new budget project this percentage has been raised to between 18 and 19 percent. He noted that this percentage was achieved despite the government counting additional revenues from the re-pricing of locally supplied oil within oil revenues rather than non-oil revenues. He stated that amounts originally totaling 23.8 trillion dinars, with a net of 19.8 trillion dinars, were included under oil revenues even though they were not previously accounted for in this manner. He added that some could have classified these amounts under non-oil revenues, considering that oil revenues were calculated based solely on crude oil sales, but the government chose to include them under oil revenues. He affirmed that the increase in the share of non-oil revenues from 6 to 8 percent previously to about 19 percent currently represents an important step in financial reform. He revealed that the government aims to raise the contribution of non-oil revenues to 30 percent of total revenues during the remaining years of its term.
