Parliamentary Finance: Adoption of the General Budget Law for the year 2016 will be the end of this week
Parliamentary Finance Committee confirmed on Saturday that ' the adoption of the General Budget Law for the year 2016 will be the end of this week. "
According to committee member Ahmed Sarhan said 'the House of Representatives will be able to offer budget bill through the House of Representatives today 's session, and that the passing of the bill will be in place on Wednesday or Thursday of this week. "
He continued Ahmed said ' the law needs to be reviewed by the parliamentary finance committee and he will be shown the law if the study is complete , the end of the week.'
The House of Representatives has finished its session on the ninth of November this second reading of the draft federal budget for the 2017 law, and directed the presidency of parliament parliamentary Finance Committee Bandaj the bill for a vote, in the coming sessions.
The size of the 2017 budget, according to the draft of the law more than 100 trillion dinars deficit by 21%.
He said Parliament Speaker Salim al - Jubouri, said 'salaries and expenses accounted for 75% of the budget in 2017, and reached the security and defense allocations for 32% of total expenditures in,' pointing to 'the House of Representatives is keen to reduce the three presidencies expenses and senior positions in the state. "
The draft budget to increase the proportion of deduction from employees ' salaries for the expenses of the popular crowd and displaced law to 4.8% of the total salaries and allowances for all state employees and public sector retirees, after this percentage was 3% in the budget of 2016.
As Article 38 of the draft budget law pointed to adjustable rate tax from 10% to 12% of the annual revenue of the real estate property.
Announced Prime Minister Haider al - Abadi, yesterday that the Cabinet has made adjustments 'minor' on some of the legal provisions of the draft 2017 budget law and submit them to the House of Representatives. LINK