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I want the IAM user should have permission to the billing information and only that part should be generated. How to achieve that? Can I use CloudWatch for this purpose?

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There is no built-in feature and can't be achieved using CloudWatch.

What can be done is to split multiple AWS accounts with one account been that will be the billing account using consolidating billing.  Then the user can only see the billing from their AWS account but not the global billing from the billing account.

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