The General Budget in Iraqi Law The general budget is considered one of the most important topics in Iraqi financial law, as it represents the legal instrument through which the state’s finances are organized during a specific fiscal year. It determines public revenues and expenditures in a manner that achieves the economic and social objectives of the state. Concept of the General Budget The general budget is a legal document prepared by the government and approved by the legislative authority. It includes an annual estimation of the state’s revenues and expenditures. The budget serves as a means for implementing fiscal policy and achieving financial balance. Preparation of the General Budget The Iraqi government, represented by the Ministry of Finance, prepares the draft general budget, which is then submitted to the Council of Ministers and subsequently to the Council of Representatives for discussion and approval. This process ensures the principle of parliamentary oversight over public funds. Execution of the Budget After the budget is approved, the implementation phase begins by the ministries and government entities in accordance with financial laws and instructions, with strict adherence to not exceeding the allocated financial appropriations. Budgetary Oversight The general budget is subject to several types of oversight, including: • Parliamentary oversight • Administrative oversight • Oversight by the Federal Board of Supreme Audit This oversight aims to ensure the soundness of public expenditure and the protection of public funds. Conclusion The general budget represents a cornerstone of Iraqi financial law, as it ensures the regulation of revenues and expenditures, promotes transparency, and contributes to achieving the state’s financial stability. University of Al-Mustaqbal – The First and Leading Private University