IMF: 2018 Iraqi draft budget won't 'cover the needs' of Kurdistan

[yota691]

Abadi adviser to «Economy News»: salaries of employees are fully insured in the budget next year

 

Appearance of Mohammed Saleh

Economy News Baghdad: The financial adviser to the Prime Minister, the appearance of Mohammed Saleh, on Thursday, that the salaries of employees fully insured in the budget next year, denying the reduction of salaries of employees by 20%. Saleh said in an interview with "Economy News" that "Iraq has experienced difficult financial conditions during the past years and was able to secure the salaries of its employees while the conditions of Iraq today better than those years." He added that "the salaries of employees are fully insured in the next year," noting that "there is no validity to reduce the salaries of employees by 20% next year and that this rumor aims to influence the government's victories."         Views 554   Date Added 16/11/2017

[gregp]

 Educating the masses for a big event. 

[Big_J]

2 hours ago, gregp said:

 Educating the masses for a big event. 

[Wiljor]

2 hours ago, gregp said:

 Educating the masses for a big event. 

 

11 minutes ago, Big_J said:

 

Confidence in Iraqi banks is growing, is the hand on the switch? I dunno but progress is in the air 

[yota691]

Sahlani: Deficit In The Budget Of 2018 Theoretical .. And Financial Spending Does Not Exceed 70 Trillion Dinars

Last updated  18/11/2017

  Economy 36

 

BAGHDAD /

MP of the National Alliance, Hilal Sahlani, Saturday, that the total ceiling of the draft budget 2018 higher than the budget of 2017 and deficit contained in the project "theoretically" because the financial expenditure of state institutions does not exceed 70 trillion dinars annually.

"The draft federal budget bill 2018 is still under discussion in the Prime Minister's Office, and according to the information we received, the total ceiling of the budget of 2018 is more than the budget of 2017," said Sahlani in a press statement.

He added that "the government estimated the price of a barrel of oil at 43 dollars and 40 cents a barrel at an export rate of 3 million and 800 thousand barrels per day," noting that "the rate of deficit in the new general budget about 20%, or 22 trillion Iraqi dinars, a theoretical deficit in general, Because "the Iraqi state is spending on the basis of actual revenues that enter the central treasury, and therefore the financial expenditure ceiling of state institutions in general does not exceed 70 trillion dinars annually."

He continued, "All the figures and allocations contained in the draft law of the general budget as total operational and investment expenses and revenues are estimated, because the actual data of the previous budgets, according to reports of the Office of Financial Supervision indicate that the proportion of the budget deficit annually does not exceed 5 trillion Iraqi dinars.

It is worth mentioning that the General Secretariat of the Council of Ministers, recently confirmed that the current circulation of the budget law is inaccurate and invalid, and that the financial budget for 2018 is still in the process of discussion and discussions to reach the final version hoped to be voted by the Council of Ministers soon.

[yota691]

Parliamentary Finance: The World Bank is pressing the government to reduce the salaries of employees in the budget of 2018

In the policy of  November 18, 2017 on parliamentary finance: the World Bank is pressing the government to reduce the salaries of employees in the closed 2018 budget 52 visits

 

 

The Federal Government is determined to reduce the salaries of employees in the federal budget 2018 by 20%, said a member of the Finance Committee MP, Massoud Haider, said on Saturday, "The insistence of the World Bank to convert those deductions to the item of goods and services." 
He said in a press statement today that "the government is determined to reduce the salaries of employees in the general budget for next year by 20%," noting that "the government responds to the terms of the financial grant to the International Monetary Fund, which provides for an amount equivalent to 7 trillion Iraqi dinars annually." 
He explained that "representatives of the government met with the International Monetary Fund and the World Bank to discuss the federal budget, where the two institutions insisted categorically on the reduction of seven trillion dinars, of the salaries of employees specifically, equivalent to 20% of the total salaries of the Iraqi state.
"The representatives of the government" tried to negotiate to persuade them to reduce this figure to two or three trillion dinars, which means that the reduction order is almost settled because of the pressure of international financial institutions, "noting that" the meeting concluded with the refusal of the World Bank and his insistence on the full deduction of salaries And also insisted on converting the seven trillion dinars from the salaries of employees to the door of goods and services, "describing this section as" those services that the citizen did not see anything for years, which is usually a door to corruption in all its forms. " 
He added that "the timing of our press conference was very urgent and deliberate, in order to save staff and remedy the disaster urgently and quickly, to support the federal government not to accept those conditions and to give a clear message to those financial institutions that the violation of salaries of employees will be rejected by the Finance Committee in particular and the Iraqi Council of Representatives "He said.
Haidar pointed out that "after the meeting with the World Bank, there is left to the government only to bow to their will, and thus reduce the salaries of employees in this disastrous proportion, which we mentioned the timing of the budget must be reached to the House of Representatives at a specific date," considering that " "We urge the government not to accept this and stop these measures against millions of employees in their last moments and save what can be saved."

[yota691]

The government promises to send the 2018 budget to parliament within days and comment on the share of Kurdistan

 

Saturday 18 November

 

 

 

 

Sumatra News / Baghdad The Iraqi government promised on Saturday to send a bill for the general budget for 2018 to the House of Representatives within days, while noting that the proportion of the Kurdistan region in the budget will change commensurate with the number of its population, compared to the population of Iraq .  " The 2018 budget is in the final review phase after all the discussions within the cabinet have ended, in preparation for sending them to the House of Representatives within days," Saad al-Hadithi, spokesman for the media office of Prime Minister Haider al-Abadi told the Russian news agency Sputnik.     Al-Hadithi added that "the proportion of the region will change in proportion to the number of its population, compared to the population of Iraq, and to ensure a fair distribution of the wealth of the country."

[nannab]

Ah there it is again within days they promise.   

Good morning Yota and DV  

[gregp]

Parliament extended its stay to vote on the budget. Abadi’s agreement with the Kurds, on their share, is  the final step to to sending the budget to parliament.  

 

When you see that football passed, we are almost there.  

                                                      

[TexasMike1958]

49 minutes ago, yota691 said:

The government promises to send the 2018 budget to parliament within days and comment on the share of Kurdistan

 

Saturday 18 November

 

 

 

 

Sumatra News / Baghdad The Iraqi government promised on Saturday to send a bill for the general budget for 2018 to the House of Representatives within days, while noting that the proportion of the Kurdistan region in the budget will change commensurate with the number of its population, compared to the population of Iraq .  " The 2018 budget is in the final review phase after all the discussions within the cabinet have ended, in preparation for sending them to the House of Representatives within days," Saad al-Hadithi, spokesman for the media office of Prime Minister Haider al-Abadi told the Russian news agency Sputnik.     Al-Hadithi added that "the proportion of the region will change in proportion to the number of its population, compared to the population of Iraq, and to ensure a fair distribution of the wealth of the country."

 

 

I think if the Kurds share is less than 17%, there will be problems.  Also, according to the very first post in this thread, the budget was to arrive at the end of the 10TH month and then ratified by the end of the fiscal year.  Aren't they just a tiny bit late on this one???

 

[Rmc10]

The Kurds have already agreed to 12%

[blueskyline]

Peshmerga also received 300 plus million dollars recently too . Along with the 400 plus million from last year . Piece by piece ...

[TexasMike1958]

1 hour ago, Rmc10 said:

The Kurds have already agreed to 12%

 

 

That's good....  Let's see if they try to go lower.  I am sure the Kurds are somewhat skeptical.

 

[10 YEARS LATER]

3 hours ago, nannab said:

Ah there it is again within days they promise.   

Good morning Yota and DV  

 

This thread was begun back in late August . . . yup . . . within days. 

[jcfrag]

Apparently there is a whole lotta talking back and forth behind closed doors. They have got to be getting close to an agreement on the budget, as well as the HCL. I suspect that was the US's intent with the money to the Kurds,to get them to realize that they have not been abandoned and far from being on the outside looking in....They are still very important to the US, as well Baghdad!

[10 YEARS LATER]

3 hours ago, Rmc10 said:

The Kurds have already agreed to 12%

 

Agreed . . . but will they do an about face, cry foul and toss a monkey wrench into the gears ? Always a concern when dealing with spoiled, entitled children.

[yota691]

«Economy News» published the latest draft of the budget bill of 2018

 

Economy News Baghdad: "Economy News" publishes the latest draft of the bill of the budget of 2018. The budget revenues are estimated at 85.7 trillion dinars resulting from the export of 3.38 million barrels per day at 43.4 dollars, while the expenditure is 105 trillion dinars, including the amount of internal and external debt of 8.2 trillion dinars, and the deficit planned 19.4 trillion dinars. Among the budget allocated 400 billion dinars for the reconstruction and development of projects in all provinces. To view the budget click here   Views 748   Date Added 11/21/2017

[yota691]

Economists: estimated deficit in the budget next year 19.4 trillion dinars

Economy News Baghdad: A number of economists stressed that the budget deficit estimated next year is 19.4 trillion dinars, calling for the need to move from the rental economy to the productive economy. A session was held at the headquarters of the Association of Iraqi Private Banks, which was set up in cooperation with the Economic Leadership Group entitled "Solutions to Address the Budget Deficit of the Financial Year 2018". The financial adviser to the Prime Minister, the appearance of Mohammed Saleh, "The last ten years address the actual deficit and did not address the structural deficit, because Iraq used the budget constraint easy, creating a situation of spacing between revenues and expenditures," noting that "the issuance of legislation and financial transactions outside the budget, Big financial waste ". He pointed out that "the electricity sector consumes in one year 14 trillion dinars, while revenues of one trillion dinars and this is borne by the public budget because of the attack on public networks and non-payment of collection fees." He pointed out that "non-oil revenue in the budget is less than 10%." "The structural deficit in the public budgets is one of the results of the structural imbalance in the economy, which led to the face of the stability of the monetary and financial system, the main challenges, the most prominent non-oil deficit and deficit balance of payments and deficit in the budgets of the previous and the budget of 2017 and the budget of 2018, Estimated at 19.4 trillion dinars. " He pointed out that "one of the reasons for this deficit is the issue of stability of financial sustainability and the preservation of financial resource in all circumstances, so it takes the transition of the economy from rent to productive." On the other hand, the financial expert, Obeid Mahal, said that "the tax revenues received by Iraq now come from oil companies," noting that "non-oil revenues in the next year will be 12 trillion dinars." He called on the competent authorities to "leave the dependence on the oil supplier through the development of industry and agriculture and achieve food security and prevent import and other existing sources On the other hand, the professor of economics at Mustansiriya University, Dr. Maitham Laibi, said that "the general budget of the Iraqi economy is of exceptional importance, because of high rents and the dependence of the public and private sectors on most of its variables on financing." Annual, so it requires attention to its different aspects, whether scientific or regulatory. " "The basic assumption is that budget reform is not within its annual framework, but within the framework of medium-term and long-term strategic planning," he said. He pointed out that "the budget is not very different in terms of its predecessors except in the details of the figures, but it does not rise to be the budget of the Iraqi state, it is still a distribution of expenditures according to simple and old divisions, do not reflect the degree of development of budgets high," noting that " The presence of an introduction to the government's program of work for the coming year, and its general economic, social and political trends, and there is no time dimension to link the budget to the ministries' plans and strategies within the medium and long term. He stressed that "the problem of public spending is still existing and the link of public spending with oil revenues, and were not developed indicators show the ability of non-oil revenues to finance the total expenditure, which is at least underestimated." Meanwhile, the head of financial operations in the Central Bank, Mahmoud Dagher, said that "the budget next year is similar to the budgets prepared from 2014 until 2017 because for the first time the size of the fiscal deficit is equal to the investment budget," noting that "borrowing will go to cover the investment budget" . He pointed out that "the deficit in the budget next year is less than the investment budget, pointing out that" Iraq did not borrow internally during the current year while borrowing $ 4 billion external through the issuance of bonds in the global market aimed at improving the financial situation.

Views 11   Date Added 21/11/2017

 

[Wiljor]

BAGHDAD INCREASES PRESSURE ON KRG WITH BUDGET CUT

Iraq, November 21, 2017  The first draft of Iraq’s federal budget for 2018, approved by the government at the start of the month, envisions slashing the Kurdish region’s share from 17% to 12.7% of the total. The cut is one of several “punitive” constitutional measures that followed the Sept. 25 Kurdish referendum on independence. Those measures also saw Baghdad seize control of disputed areas, border crossings and air bases, and demand that the Kurdistan Regional Government (KRG) transfer taxes and other public revenues to the central government. This is the first time that the KRG’s share of the budget has been subject to review since 2005, when the government of then interim Prime Minister Ayad Allawi allocated 17% to the Kurdish region, despite the fact there has not been an official census in Iraq since 1997. “There have been no negotiations so far with Baghdad on the budget or other pending issues, despite the KRG’s desire for talks,” said parliament member Najiba Najib of the Kurdistan Alliance. “The central government is still refusing to receive the Kurdish delegation.” “Iraq still doesn’t currently have official statistics,” she added. “Even data from the Ministry of Trade is inaccurate. It’s not reasonable to believe that the population of the Kurdish region has stayed at just 5 million, as the United Nations said in 2003 when it recommended the KRG receive 13% of the national budget.” She said the central government has felt “arrogant and powerful” since it regained control of Kirkuk. businessnews   http://iraqdailyjournal.com/story-z16247274

[yota691]

Financial Advisor for Abbadi: Budget 2018 in the final stages and priorities to secure salaries

Readers

 

 

Financial Advisor for Abbadi: Budget 2018 in the final stages and priorities to secure salaries

 

S homepage!

 

The Euphrates -

 

The financial adviser to the Prime Minister of the appearance of Mohammed Saleh that the financial budget of the Iraqi state for 2018 in its final stages and will be sent to parliament soon. 

Saleh said in a press statement that the budget was discussed by the relevant committees in the Council of Ministers and set priorities to secure the salaries of employees and retirees and employees of the system of wages and address the expenses that are a burden on the budget or known financial sustainability as well as income insurance. 

Saleh added that the price of a barrel of oil, which was adopted in the budget of about 100 trillion dinars amounted to 43.4 dollars despite the rise in international oil prices, adding that any increase in global prices will go to fill the budget deficit instead of resort to borrowing. 

He added that the next year's budget is devoid of grades except for qualitative grades such as judges, doctors and teachers, while will depend on the degrees of deletion and development instead of retirees and deceased in other appointments, noting that the budget took into account the promotion of employment through the private sector and the development of youth lending programs With soft loans to enable them to engage in the labor market.

[DinarThug]

Statement by an IMF Mission on Iraq

November 21, 2017

At the end of the mission, Mr. Christian Josz, Mission Chief for Iraq, issued the following statement:

“The Iraqi authorities and IMF staff continued discussions on the third review of the SBA and made good progress towards reaching agreement on a draft 2018 budget in line with the SBA.

“During the discussions, the team met with Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq Acting Deputy Minister of Finance, Dr. Maher Johan, Deputy Minister of Planning, Dr. Qasim Enaya, Financial Adviser to the Prime Minister, Dr. Mudher Saleh, Chairman of the Board of Supreme Audit, and officials from the ministry of finance, CBI and the ministry of oil. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”[/b]

  

[DinarDavo]

17 minutes ago, DinarThug said:

Statement by an IMF Mission on Iraq

November 21, 2017

At the end of the mission, Mr. Christian Josz, Mission Chief for Iraq, issued the following statement:

“The Iraqi authorities and IMF staff continued discussions on the third review of the SBA and made good progress towards reaching agreement on a draft 2018 budget in line with the SBA.

“During the discussions, the team met with Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq Acting Deputy Minister of Finance, Dr. Maher Johan, Deputy Minister of Planning, Dr. Qasim Enaya, Financial Adviser to the Prime Minister, Dr. Mudher Saleh, Chairman of the Board of Supreme Audit, and officials from the ministry of finance, CBI and the ministry of oil. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”[/b]

  

 

If I didn't know better I would say these guys are up to something.........    

[Wiljor]

3 hours ago, DinarDavo said:

 

If I didn't know better I would say these guys are up to something.........    

 

We are in interesting times DD, I’m sure their is a lot going on behind closed doors my friend. A super evening out to you 

[DinarDavo]

21 minutes ago, Wiljor said:

 

We are in interesting times DD, I’m sure their is a lot going on behind closed doors my friend. A super evening out to you 

 

Thanks Wiljor......same to you friend. Happy Thanksgiving to you and yours.

[newbieDA]

On 11/18/2017 at 1:20 PM, 10 YEARS LATER said:

 

This thread was begun back in late August . . . yup . . . within days.