Finance Minister Mohammad Yasser Barneeh held discussions with members representing several committees in the People's Council on a number of files related to economic and financial policies and the state's general budget, at the ministry's headquarters in Damascus.
The ministry clarified via its Telegram channel on Tuesday that the meeting was attended by Deputy Finance Minister Mohammad Aba Zaid, General Director of the Tax Authority Nasser Al-Abd Allah, and members from the Public Budget, Financial Laws, Economic, and Agriculture committees in the People's Council.
Financial and Legislative Reforms
Minister Barneeh emphasized the importance of partnership and cooperation at this stage between the ministries and the People's Council, with work focused on laying the foundation and building the prerequisites for the next phase. He clarified that the ministry is working according to integrated strategies and plans to develop financial policy, the tax system, the local financing sector, and stimulate economic activity.
The meeting covered the Finance Ministry's strategy and introduced a package of legislative and legal reforms, new laws prepared, alongside an explanation of the new tax system and the anti-poverty plan comprising 17 programs, in addition to explaining the general budget and mechanisms for addressing deficits and subsidies.
2027 Budget and Spending Priorities
Regarding the state's general budget for 2027, Minister Barneeh indicated that it is in its final stages to be presented to the People's Council for approval, stressing the importance that the budget reflect reform priorities, particularly improving the standard of living, financing strategic projects, and supporting the path of economic development.
For their part, participating People's Council members emphasized the importance of preparing a clear budget in terms of financial terminology and laws, which enhances the clarity of budget items and spending priorities, and consolidates transparency and the availability of financial information. Deputy Minister Aba Zaid presented the estimated figures for the preliminary budget and addressed the file of subsidies and associated challenges.
Sukuk and Project Financing
In the same context, Minister Barneeh clarified the importance of sukuk as financial instruments that can be utilized to finance projects and achieve developmental goals, and their role in helping financial and banking institutions price financial services.
The minister pointed out that the ministry has completed updating a large number of laws, representing a qualitative leap compared to old laws, explaining the philosophy of tax reform based on stimulating the private sector and reducing the burden on low-income individuals, while working to enhance compliance and combat corruption.
At the end of the meeting, it was agreed to hold a monthly meeting to follow up on developments and discuss new issues. Previously, on September 23, the Budget and Accounts Committee and the Financial Laws Committee in the People's Council discussed with Finance Minister Mohammad Yasser Barneeh current financial and economic policies, the exchange rate, monetary policy, and tax policy, in addition to coordination and cooperation between public entities.
Source: Syrian Arab News Agency (SANA)
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