Parliamentary Finance Committee Moves to Enact Borrowing and Grants Law to Secure State Expenditures

The Chairman of the Parliamentary Finance Committee, Adi Awwad, announced that parliament is moving toward enacting the draft Borrowing and Grants Law to provide the necessary legal framework for state operations and salary payments in the absence of a general budget law. Awwad explained that the proposed bill was discussed with the Minister of Finance, Faleh Al-Sari, and relevant officials to proceed with the legislative process and officially adopt it within the committee. He noted that the law will grant the Cabinet and the Ministry of Finance the legal authority to secure loans, pointing out that internal borrowing will be funded via the Central Bank, while external loans will be sought from friendly nations and the World Bank.