On Sunday, the First Deputy Speaker of the Iraqi Parliament, Mohsen al-Mandlawi, referred the draft federal budget bill for the financial years 2023, 2024, and 2025 to the Parliamentary Finance Committee.

The move comes after the Iraqi government spokesperson, Bassam al-Aqidi, announced on Friday the delivery of the draft federal budget law to the Parliament.

Al-Mandlawi's office stated that he instructed for the budget bill to be studied and discussed as soon as possible to include it in the agenda of the nearest session.

The last budget approved in Iraq was in April 2021, while no budget was adopted in 2022 due to the political unrest that paralyzed the country for a year after the latest legislative elections.

The draft budget bill will be a crucial factor in shaping Iraq's economic and financial policies for the next three years.

The government is expected to face challenges in balancing the budget amid declining oil prices and a slowing global economy. The budget will also need to address urgent issues such as unemployment, poverty, and reconstruction efforts.

The Parliamentary Finance Committee will now review and analyze the draft budget bill before it is presented to the Parliament for voting.

The approval of the budget bill is a necessary step to enable the government to implement its policies and programs and ensure the provision of public services and infrastructure development in the country.