Iraqi Prime Minister, Adil Abd al-Mahdi said that the Iraqi Government will abide by the federal budget law and continue to send limited funding to Kurdistan Region for public sector salaries until the dispute over oil transfers is resolved.
The Iraqi President ratified the budget for 2019 earlier this week, ushering in Iraq’s largest ever budget. While criticised by some onlookers, the budget is viewed as a springboard for further reforms in 2020.
On Thursday, Iraqi parliamentarians approved the country's 111.8 billion-dollar budget. This budget is one of Iraq’s largest ever spending bills, represents nearly 45 percent increase from last year as more money has been allocated to public salaries.
Egypt announced a plan for the issuance of treasury bills and bonds worth 181.5 billion Egyptian pounds, but experts say the government should slash outlays and increase public revenues through a raft of measures to ease the country's budgetary woes.
The Egyptian Ministry of Finance announced on Thursday that for the first time in 15 years, Egypt has a surplus in its budget. It is to be noted that primary budget figures do not factor in interest payments on government debt.
Egypt's Minister of Finance Mohamed Maait has announced that the country will begin implementing its largest public budget in history for the fiscal year 2018-2019. The new budget will coincide with the beginning of Abdul Fattah al Sisi's second term as President of Egypt.