Shafaq News / The Parliamentary Finance Committee announced, on Wednesday, that the Iraqi government will start preparing a budget law draft for the year 2021, noting that oil prices will determine the fiscal deficit in the budget.

"The Iraqi government has started a preparing a budget law draft for the year 2021, according to the Minister of finance Ali Allawi", member of the committee, Jamal Kojer, told Shafaq News agency.

Kojer added that, " there will be a financial deficit, as the expenses outweighs the incomes", noting that, "oil prices, the government's ability to provide resources and its seriousness in reforming the system will determine the fiscal deficit in 2021 budget".

It is noteworthy that the government did not submit the 2020 budget draft to the parliament yet, due to the protests marching the Iraqi streets since late October. These protests led to the resignation of the previous government, headed by Adel Abdul-Mahdi, and its transformation into a caretaker government that is not allowed to submit a budget draft to the Parliament.