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He revealed the truth about Al-Kazemi's appeal against the budget during his meeting with the President of the Federal Court and its members 259 Policy 2021/04/18 15:15 Baghdad today - Baghdad A government source confirmed, today, Sunday (April 18, 2021) that the government will not yet submit an appeal regarding certain paragraphs in the 2021 budget to the Federal Court. The source told (Baghdad Today), "The meeting of the Prime Minister, Mustafa Al-Kazemi, with the President and members of the Federal Supreme Court that took place today, during which the government appeal for some paragraphs of the 2021 Budget Law was not submitted." And that "the competent government agencies are still working on preparing the appeal, and it will be submitted to the Federal Supreme Court within the next few days." Earlier in the day, the Prime Minister, Mustafa Al-Kazemi, met the President of the Federal Supreme Court, Judge Jassem Muhammad Abboud, members of the court, and the President of the Supreme Judicial Council, Faiq Zaidan, in two separate meetings. In a statement received by the Supreme Judicial Council (Baghdad Today), the President of the Federal Supreme Court, Judge Jassem Muhammad Abboud, received Mustafa Al-Kazemi, Prime Minister, indicating that Al-Kazemi “extended my congratulations to the President, Vice President and members of the Court on the occasion of their assumption of their positions.” The statement pointed out that "the head of the Supreme Judicial Council, Judge Faik Zeidan, received the Prime Minister, Mustafa Al-Kazemi, and discussed joint efforts in the field of combating corruption and organized crime," indicating that "the meeting was attended by the deputies of the President of the Court of Cassation, the Head of Public Prosecution and the Head of Judicial Supervision." . LINK

The budget officially enters into force ... but: no less than 10 articles are still "pending" and will not be implemented until the "answer" arrives. 2021-04-18 Yes Iraq: Baghdad The 2021 budget entered into force today, Sunday, "officially" after it was published in the Al-Waqi’a newspaper, amid anticipation for many articles that may reach 10 articles whose fate will be suspended until the Federal Court decides on them. Today, Sunday, the official Al-Waqi’a newspaper published the fiscal budget law for 2021, and by publishing the law in the official newspaper, the fiscal budget law is considered effective and the law will come into effect from today. However, some articles will await their fate after the Federal Court decides them, against the background of several appeals filed by parliamentary blocs and others that may have been submitted by the government. A member of the Finance Committee, Abdul Hadi Al-Saadawi, said in a press statement a few days ago, that "the federal budget comes into effect after its publication in the Iraqi newspaper Al-Waqi’a and the issuance of final instructions on it." It was appealed to the Federal Court, which is supposed not to enter into force until a decision is reached by the Federal Court. ” And he indicated that "a parliamentary bloc has challenged five articles in the 2021 budget, including the exchange rate, Article 11, guarantees and sovereign loans, and whose contracts have been canceled in the security ministries and the popular crowd," noting that "there is another article that will be challenged related to the tribal separation." He continued, "This article was attached to the tables and not in the budget texts, and everyone knows that the tables are very important, and this paragraph did not appear even to the members of the Finance Committee." Destroyed by ISIS ”. Government appeals The matter did not depend on the aforementioned appeals submitted by a parliamentary bloc. Rather, Prime Minister Mustafa Al-Kazemi had announced his government's intention to submit new appeals against articles in the budget. And Al-Kazemi said in a speech he gave during his meeting with tribal sheikhs and notables in Al-Muthanna governorate, that "we will file an appeal with some paragraphs of the budget with the Federal Court, because there are paragraphs that will affect the electricity sector, the health sector, etc." To solve it. ” LINK

The 2019 Date Is In Reference To The File Photo Of The Treasury Dept Building In The Article That U Posted ! The Story About Vietnam Being Released From The US List Of Currency Manipulators Just Occurred Yesterday... US removes Vietnam out of list of currency manipulators Update: April, 17/2021 - 14:04 Illustrative photo. Photo: 24h.com.vn HÀ NỘI — The US Treasury has removed Việt Nam and Switzerland from the list of countries labeled as currency manipulators, reversing a decision of the administration under President Trump last December. The US Treasury said in its semi-annual report on forex and macro-economic policies of big trade partners of the US to the Congress on April 16 that no country currently meets the US criteria as a manipulator. It said Việt Nam, Switzerland and Taiwan will be under enhanced monitoring, which means those countries and territories will not immediately face US sanctions. In the report, the first of the Biden administration, China is not designated as a currency manipulator. The Trump administration put China on the list in 2019 during a trade stand-off between the world’s two biggest economies. — VNS LINK

LINK Representative economy: The government was unable to provide the monthly quota, so how will the Ramadan quota be provided? 14:06 - 04/18/2021 On Sunday, the Parliamentary Economic and Investment Committee denounced the government's and previous governments' promises every year during the blessed month of Ramadan to provide citizens with either a specific substance or an additional share. Committee member Nada Shaker said in a statement to / the information /, that “the delay in providing the citizen with the monthly quota at the specified time is due to the presence of corruption mafias in the Ministry of Trade for the purpose of protecting merchants to market and dispose of their goods similar to the terms of the insurance share in exchange for bribes given to some of the influential people in the ministry.” Shaker added, "The promises of the Al-Kazemi government to provide the citizen with an additional Ramadan quota have not been fulfilled until now, and the reason is known." And Trade Minister Alaa al-Jubouri confirmed on the tenth of April that the government is serious about stabilizing the ration card file during the coming period, indicating that the Ramadan quota will be distributed this week.

LINK Advisor to the Prime Minister reveals the budget materials that will be challenged by the government 04/18/2021 14:18:22 The Prime Minister’s Adviser for Financial Affairs, Mazhar Muhammad Salih, revealed the articles that the government will challenge in the fiscal budget law for 2021. "The two most prominent points that will be included in government appeals to the budget are the health sector and electricity," Saleh told Al-Furat News. He continued: "Laws that do not suspend the articles of the budget law after its publication in the official gazette except for a party that has the authority to suspend some articles of the law, and it is the federal judiciary, which usually decides in such a case based on a complaint that the government submits to the Federal Court to challenge some of the articles that led to the disruption of some of the powers of the authority." Implementation and public policy." And he added: “The ruling on the appeal here is the Federal Court’s decision, which is final, binding and enforceable,” indicating that “this is what was customary in a judicial precedent in which the government challenged some articles of the Federal Budget Law in 2015 and in 2016, and the court approved on government appeals cases of some of the materials at the time." Today, Sunday, the official Al-Waqi’a newspaper published the text of the fiscal budget law for 2021, to be officially implemented. It is noteworthy that Prime Minister Mustafa Al-Kazemi announced the government's intention to challenge some of the budget's paragraphs for amendments to be made by Parliament. ################### Advisor to the Prime Minister reveals the budget materials that will be challenged by the government LINK

LINK Saleh: Customs taxes constitute 3% of GDP 18th April, 2021 The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said that taxes in all their forms constitute only 3% of the gross domestic product in Iraq, and it is the lowest in the world Saleh added in an article published on the Iraqi Economists Network website and seen by "Al-Eqtisad News", that taxes in Iraq, whether direct such as income and property taxes, and indirect, such as customs taxes, constitute only a percentage of the gross domestic product that does not exceed 3%, which is the lowest in the world compared to In neighboring oil-producing countries, some of which reach 30% of GDP He pointed out that "the income tax on government taxpayers did not constitute an annual tax revenue between 450-500 billion dinars He explained that "the income of government employees that exceeds 5.4 trillion dinars per month is not subject to income tax except the nominal salary and that the income tax law is subject to annual accounting for all sources of income He pointed out that “the tax is currently calculated on the nominal salary only, which constitutes only 34% of the employee’s income, while 66% of the job income is unique to the tax-exempt allocations, especially the job grades that are confined between the fourth and first job grades, at a rate of 70%. ؜ from the total allocations plus special grades upwards He continued: “Financial events in 2020 revealed that the critical operating expenditures exceeding 7 trillion dinars per month, most of which come from oil revenues, at a rate of 90%. ؜ when oil prices collapsed in the same year, the fixed-cost operating arm of government spending took to absorb the available oil revenues, preceded by salaries. Pensions, grants and subsidies in the operating budget at a rate of 20% meaning that salaries still need 120% ؜ of oil budget revenues in order to feed their monthly payments without the other operational periods And that "the salary difference in the year 2020 was funded from internal borrowing from the Central Bank of Iraq at the time and with an intensity of quantitative easing (printing of local currency) that the country had not seen before after the year 2003 He emphasized that "the government's internal borrowing increased by the end of 2020 to the 23 trillion dinars, and the total debt reached 66-70 trillion dinars He added that “the goal of the fiscal policy when drawing the features of the budget in 2021 was to work on two different taxes imposed simultaneously; The first is the financial tax on the total income of employees and retirees to collect an additional amount in excess of 5 trillion dinars annually, at least instead of half a trillion dinars now, and that is the financial adjustment And he continued, "The second tax that adopts monetary adjustment, which extended towards reducing the exchange rate of the Iraqi dinar and the shift in monetary policy from the philosophy of expensive cash to the philosophy of cheap cash, at a rate of 23%." Pensions, grants and subsidies in the government sector, in addition to contractors, criminalization and earning in the private sector

Let’s Bro !

LINK Parliamentary movement to make amendments to the oil and gas law 04/18/2021 07:47:21 The Parliamentary Oil and Energy Committee has opened the cabinet and the Ministry of Oil for the purpose of EXPEDITING AMENDMENTS TO THE OIL AND GAS LAW AND SENDING IT TO PARLIAMENT. Committee member Sadiq Al-Sulaiti said, in a press interview, that THE OIL AND GAS LAW is one of the most important stalled laws, and the Parliamentary Oil Committee has addressed the Cabinet and the Ministry of Oil for the purpose of expediting the necessary amendments to this law AND RETURNING IT TO THE HOUSE OF REPRESENTATIVES FOR THE PURPOSE OF ADVANCING ITS LEGISLATION, indicating that "the law exists in the inclusion of the government that is working on its completion, maturation, and the treatment of some of its objectionable paragraphs, AND RETURNING IT TO PARLIAMENT FOR THE PURPOSE OF INITIATING ITS APPROVAL. He added, "This law is the radical solution to the problems between the center and the region, as in every budget it will create a crisis in the mechanism for settling oil receivables, the mechanism for exporting oil and the mechanism for delivering those receivables and other paragraphs that will be subject to political difference, and may be subject to political auctions as well." And that "the issue does not go beyond being technical and mathematical, related to revenues and duties, and it is supposed to be regulated by law," expressing his hope during the coming period and the remainder of the parliament's life, that "the government will ACCELERATE THE COMPLETION OF THIS LAW and return it to Parliament." Conscious / After 16 years of delay ... a parliamentary committee to move the oil and gas law file https://al-iraqinews.com/archives/124784 April 18, 2021 8 Views Conscious / follow up The Parliamentary Oil and Energy Committee has approached the Cabinet and the Ministry of Oil for the purpose of expediting amendments to THE OIL AND GAS LAW and sending it to Parliament. A member of the committee, Sadiq Al-Sulaiti, said in a statement to (Iraqi Media News Agency / INA) that “THE OIL AND GAS LAW is one of the most important suspended laws, and the Parliamentary Oil Committee has addressed the Prime Minister and the Ministry of Oil for the purpose of expediting the necessary amendments to this law and returning it to the House of Representatives for the purpose of moving forward with its legislation. “. Al-Sulaiti added, "The law is in the drawers of the government, which is working to complete it, mature and treat some of its paragraphs that have objection and return it to Parliament FOR THE PURPOSE OF INITIATING ITS APPROVAL.” He explained, "This law is the radical solution to the problems between the center and the region, as in every budget it will create a crisis in the mechanism for settling oil receivables, the mechanism for exporting oil and the mechanism for delivering these receivables and other paragraphs that will be subject to political difference, and may be subject to political auctions as well." He pointed out, "The issue does not go beyond being a technical and mathematical one related to revenues and duties and is supposed to be regulated by law," expressing his hope during the coming period and the remainder of the parliament's life, that "the government WILL ACCELERATE THE COMPLETION OF THIS LAW and return it to Parliament." And the central oil and gas law was supposed to be approved since the first year of the adoption of the Iraqi constitution, in 2005, but successive Iraqi governments, with the encouragement of the political forces that formed them, according to observers, have been slow to pass it, like other laws that the Iraqi constitution has drawn its main features, And he left Parliament the power to decide its details through special laws

LINK The 2021 budget comes into effect, and this is its final text 04/18/2021 11:30:00 The official Al-Waqa’a newspaper published the text of the fiscal budget law for 2021, to officially enter into force. The newspaper published the final version of the budget law. It is noteworthy that Prime Minister Mustafa Al-Kazemi announced the government's intention to challenge some of the budget's paragraphs for amendments to be made by Parliament. To view the budget law ... click here ########### LINK The budget will enter into force after its publication in the Al-Waqaeq newspaper 18th April, 2021 The Ministry of Justice announced, on Sunday, the issuance of a new issue of the Iraqi newspaper Al-Waqi’a with the number (4625), which includes the publication of the Federal Budget Law for the fiscal year 2021. The Director General of the Department, Haifa Shukr Mahmoud, said in a statement that Mawazine News received a copy of "Today, the new issue of the Iraqi newspaper Al-Waqi’a was issued with the number (4625).” Mahmoud added, "The number included the publication of Law No. (23) for the year 2021, the Federal General Budget of the Republic of Iraq for the fiscal year 2021." After publishing the text of the budget law in the official Iraqi newspaper, the official Iraqi newspaper, the law will officially enter into force to initiate disbursement operations. On Thursday (April 8, 2021), President of the Republic, Barham Salih, approved the federal fiscal budget law for the current year. To view the new issue of Al-Waqi’a newspaper, which included the publication of the 2021 Budget Law, download the file below: download file ########### LINK Issue (4625) of the Iraqi newspaper Al-Waqi’a issued on 12/4/2021 18th April, 2021 Law No. (23) for the year 2021, the federal general budget of the Republic of Iraq for the fiscal year 2021. To download the issue, click here ############ LINK Iraqi facts publish the 2021 budget and implementation pending financial instructions I 18th April, 2021 The new issue of the Iraqi newspaper Al-Waqa’i ’, issued by the Ministry of Justice, was issued for publishing laws, legislations and legal decisions. The Iraqi facts were published, the text of the Federal Budget Law for the fiscal year 2021, which means that it is ready for implementation, but an informed source told (Iraq Today), that “this law will not be implemented unless the Ministry of Finance issues instructions for its implementation, which it is hoped will be issued in the coming days.”

LINK Financial instructions for mobile phone wallet limits and ceilings 18th April 2021 The Central Bank of Iraq announces the issuance of financial instructions regarding the limits and ceilings of mobile phone wallets for the purpose of organizing the work of providers of electronic payment services via mobile phone in line with the controls issued by this bank. To view the instructions ... click here Translation of pdf document ..... The ceilings and limits for e-wallets according to 1- The documented and effective wallet: the limits of transfers shall be a maximum of (2,500,000) two and a half million Iraqi dinars per month. Total amounts of cash withdrawals as a maximum (10) ten million Iraqi dinars per month c. The maximum limit for the wallet absorption is (10) ten million Iraqi dinars primary wallet. The limit, except for portfolio absorption (1), is one million Iraqi dinars. They can be used for the purposes set forth below, taking into account not to be used to distribute salaries in government institutions - low-value financial payments. Single and one-time payments. Regular payments that are limited to periods of time not exceeding (12) months. C - In the event that the wallet is registered via the Internet and has not been used for a period of more than (12) months, then the wallet will be suspended until its data is updated. Corporate Portfolio (Private Sector): a. The cash deposit shall be through agents as a limit uto, 10) ten million Iraqi dinars and what is more than that is through the bank account in it, it will be used for the purposes of salaries and other company expenses. Take all due diligence measures when making transfers. 4- Dealer's wallet: a. Transfer limits shall be a maximum of (500) five hundred million Iraqi dinars per month. B - The cash deposit shall be through agents, as a maximum of (10) ten million Iraqi dinars, and what is more than that shall be through a bank account. C. The ceiling for cash withdrawals shall be a maximum of (2,500,000) two and a half million Iraqi dinars per day, and what is more than that shall be through the bank account 5- Agents Portfolio: The limits of transfers shall be a maximum of (500) five hundred million Iraqi dinars per month to the secondary agent’s wallet again: The wallet linked card (M - Card) is subject to the limits and limits for prepaid recharge cards that have been previously determined by this bank. Third: Excludes transfers of purchases from the above-mentioned limits and ceilings for all portfolios. Fourth: In the event of opening electronic wallets in the US dollar currency, the equivalent of the same limits referred to in the above paragraphs.

LINK Iraq is outside the UK's ranking of high risk countries 18th April 2021 Within the framework of the efforts of the Central Bank of Iraq and through the Office of Combating Money Laundering and Terrorist Financing in developing the business environment within the international compliance standards for combating money laundering and terrorist financing, “The British Treasury in the United Kingdom Government Department did not include the name of the Republic of Iraq among the lists of high risk countries according to Resolution No. 392 of 2021." The United Kingdom adopted the recommendations of the Financial Action Task Force (FATF) in classifying countries with high risks in terms of applying anti-money laundering and terrorist financing standards, after its exit from the European Union countries, and it promised Iraq committed to keeping pace with and implementing international recommendations. The fact that Iraq is not included in the list of high-risk countries is positively reflected in facilitating business and entering companies between the two countries, as well as supporting financial operations between the Iraqi banking sector and the United Kingdom. Central Bank of Iraq Information Office April 18, 2021

LINK Parliamentary movement to make amendments to the oil and gas law 04/18/2021 07:47:21 The Parliamentary Oil and Energy Committee has opened the cabinet and the Ministry of Oil for the purpose of expediting amendments to the oil and gas law and sending it to Parliament. Committee member Sadiq Al-Sulaiti said, in a press interview, that the oil and gas law is one of the most important stalled laws, and the Parliamentary Oil Committee has addressed the Cabinet and the Ministry of Oil for the purpose of expediting the necessary amendments to this law and returning it to the House of Representatives for the purpose of advancing its legislation, indicating that "the law exists in the inclusion of the government that is working on its completion, maturation, and the treatment of some of its objectionable paragraphs, and returning it to Parliament for the purpose of initiating its approval. He added, "This law is the radical solution to the problems between the center and the region, as in every budget it will create a crisis in the mechanism for settling oil receivables, the mechanism for exporting oil and the mechanism for delivering those receivables and other paragraphs that will be subject to political difference, and may be subject to political auctions as well." And that "the issue does not go beyond being technical and mathematical, related to revenues and duties, and it is supposed to be regulated by law," expressing his hope during the coming period and the remainder of the parliament's life, that "the government will ACCELERATE THE COMPLETION OF THIS LAW and return it to Parliament."

Oh Please Captain Ron, As If We Couldn’t Figure Out Thru The Translation That We Have The Official Newspaper Mogul Himself Right Here On DV - ‘Al-Weegie’ ! Sheesh - How Could U Be So Frickin’ Gullible ... Ya, But It’s Ok Bro, Just Walk It Off - And Don’t Worry, The ‘Walk Of Shame’ Will Do U Good ...

Parliamentary Economic Committee ends the controversy over employee salaries deduction Photo: 6 hours ago 16670 Views A member of the Parliamentary Economic Committee, Nada Shaker Jawdat, confirmed, on Saturday, that the clause of the employee salaries deduction tax has been removed from the draft budget, and therefore this law cannot proceed Jawdat said in a statement to NRT Arabia, (April 17, 2021), “It seems that the Ministry of Finance is not aware that Article (20) of the tax deduction process, with its five paragraphs, has been completely removed from the draft budget law, and therefore this law cannot go ahead and prejudice salaries. employees She added, "Therefore, the possibility of the existence of anything related to the process of withholding salaries and imposing a tax on employees, and that Article (34 C) is not related to remote security or near security, with the issue of withholding and taxing salaries Jawdat indicated, "This particular paragraph talks about the issue of productivity and the process of supporting local and imported products in order to advance the productive sector," noting that "what the Ministry of Finance claimed in this matter is considered unreal and impermeable because the paragraph is basically null She explained, "The legislative side is not with the process of imposing a tax on the salaries of employees by deleting Article (20) in the budget law with its 5 paragraphs, and therefore the important aspect for employees is not to deduct their salaries as a result of the weight that afflicted this segment by changing the exchange rate." Dollar As for what the Al-Kazemi government has done so far, Jawdat indicated that "the government from the economic side is still weak and there are no tangible achievements on the ground," expressing "I hope that the Al-Kazemi government will play a greater role in this aspect, such as changing the exchange rate of the dollar "The devaluation of the Iraqi dinar is considered a weakness in this area, because the country is floating on a sea of oil, and therefore the state cannot resort to the process of devaluing its currency in this way," Jawdat concluded LINK

And Btw Weegie - Quit Manipulating Ur Dong ! U’ll Go Blind ... US removes Vietnam out of list of currency manipulators Update: April, 17/2021 - 14:04 Illustrative photo. Photo: 24h.com.vn HÀ NỘI — The US Treasury has removed Việt Nam and Switzerland from the list of countries labeled as currency manipulators, reversing a decision of the administration under President Trump last December. The US Treasury said in its semi-annual report on forex and macro-economic policies of big trade partners of the US to the Congress on April 16 that no country currently meets the US criteria as a manipulator. It said Việt Nam, Switzerland and Taiwan will be under enhanced monitoring, which means those countries and territories will not immediately face US sanctions. In the report, the first of the Biden administration, China is not designated as a currency manipulator. The Trump administration put China on the list in 2019 during a trade stand-off between the world’s two biggest economies. — VNS LINK

Btw - There Was An Increase In Unemployment Claims And A Drop In Unemployment Claims ! LINK Oil prices are making weekly gains 11:21 - 04/17/2021 Oil prices rose to $ 67 a barrel, heading towards weekly gains, as strong demand expectations and signs of economic recovery in China and the United States offset the rise in Corona virus infections in some other major economies. Official data showed that Chinese GDP for the first quarter jumped 18.3% year-on-year, and US retail sales numbers showed an increase in unemployment claims and a drop in unemployment claims. There is little chance of dampening the market's comforting glare anytime soon. Brent crude rose eight cents, or 0.1 percent, to $ 67.02 a barrel, on its way to achieving weekly gains of 6.3 percent after rising for five consecutive sessions, and US West Texas Intermediate crude fell 14 cents, or 0.2 percent, to $ 63.32.

SOURCES: AL-KAZEMI DIRECTED NOT TO PROMOTE THE FINANCIAL PROPOSAL 17 Apr 2021 Baghdad-Al-Sharqiya, April 17: Political sources said that the Iraqi Prime Minister Mustafa Al-Kazemi directed not to promote the proposal made by the Ministry of Finance regarding the tax deduction from the salaries of employees. From outside the contexts that were previously approved. The sources indicated that the Prime Minister referred on more than one occasion to the need to pay attention to the income of the poor classes and to spare them the effects of fluctuations and economic crises. LINK

The Washington Institute: Al-Kazemi is sincere in his words and promises, and is able to change the rules of the game, and Abdul-Mahdi has evaded measures to protect the lives of American diplomats Policy , 2021/04/17 13:08 , Readings: Baghdad - Iraq today: The Washington Institute considered that the American presence in Iraq remains a vital interest for the national security of the United States and that the withdrawal of the United States will end the efforts to curb ISIS, undermine confidence in Baghdad, and exacerbate the economic crisis in Iraq. Writer David Schenker, a senior fellow at the Washington Institute and former Assistant Secretary of State for Near Eastern Affairs, says about his experience in Iraq and his meetings with political leaders: I see the success of Mustafa Al-Kazemi in making his way and bypassing his opponents. Schenker, in a report published by The Washington Institute last week, suggested that Al-Kazemi is sincere in his words and promises and is able to change the rules of the game in Iraq and the region. He added: During my work at the US State Department, I visited Iraq more than any other country, and met with the country's leaders in an attempt to encourage Baghdad to take the initiative and play its role to consolidate Iraqi sovereignty, or at least fulfill its international obligations under the Vienna Convention for the Protection of Diplomats. By 2020, the armed factions, out of their intention to remove US military forces and diplomatic personnel from the country, had engaged in a campaign of missile and missile attacks that targeted American elements, thus threatening the sustainability of the American presence in Iraq. Schenker indicated that his conversation with then Prime Minister Adel Abdul Mahdi was fruitless, and whenever Abdul-Mahdi was pressured to take the necessary steps to protect the lives of American diplomats, he became accustomed to dodging and manipulating words. He explained that Washington's relationship with Abdul-Mahdi has deteriorated following the increase in attacks on American elements and American interests. Schenker stresses that Al-Kazemi shows a real desire for sovereignty, but he faces great challenges. LINK

Btw - ‘Next Sunday Or Monday’ Means Tomorrow Or Monday ! What is the reason for the delay in publishing the budget law in the official gazette? Justice answers Economy The Iraqi budge 2021-04-17 12:17 Shafaq News / On Saturday, the Ministry of Justice revealed the reason for the delay in publishing the General Budget Law for 2021 in the official Iraqi newspaper. A source in the ministry told Shafak Nyour agency that, "After the vote on the general budget law, the President of the Republic, Barham Salih, approved the law on April 8," explaining that "the Presidency of the Republic sent the draft budget law to the Ministry of Justice last Tuesday, and this is the reason for the delay." Published in the Iraqi newspaper Al-Waqi’a. The source pointed out that "the draft budget law is ready for publication in the official newspaper Al-Waqae ', and will be published during the next Sunday or Monday." It is noteworthy that the President of the Republic, Barham Salih, officially approved, on Thursday (April 8, 2021), the federal fiscal budget law for the current year, after the parliament voted on it. LINK

LINK High Iraqi oil exports to America 04/17/2021 08:59:28 The US Energy Information Administration announced, today, Saturday, that Iraqi oil exports to America amounted to 223 thousand barrels per day, surpassing Saudi Arabia during the past week. The administration said in its report; "The average US imports of crude oil during the past week from 8 countries amounted to 5 million 286 thousand barrels per day, up by 132 thousand barrels per day from the previous week, which amounted to 5 million 154 thousand barrels per day." And she added, "America imported crude oil from Iraq during the past week at a rate of 223 thousand barrels per day, surpassing Saudi Arabia, whose imports amounted to 189 thousand barrels per day." She pointed out that "most of America's oil revenues during the past week came from Canada at a rate of 3.369 million barrels per day, followed by Mexico, whose imports amounted to 739 thousand barrels per day, followed by Colombia, whose imports amounted to 209 thousand barrels per day." She indicated that the amount of US imports from Ecuador amounted to 295 thousand barrels per day, and from Nigeria at a rate of 129 thousand barrels per day, and from Russia amounted to 143 thousand barrels per day.

LINK Al-Rafidain raises the interest of saving accounts for depositors their money 10:13 - 17/04/2021 Al-Rafidain Bank announced that the interest rate for citizens' saving accounts will be raised to 4.5 percent. The bank’s media office said in a statement received / the information / a copy of it that “based on the bank’s policy aimed at maximizing revenues in order to attract cash and encourage customers to save their money instead of hoarding it at home, the bank decided to increase the interest rate on savings accounts to 4.5 percent.” He added that "the bank decided to increase the interest rate on deposits for a period of six months to become 4.5 percent and to increase the interest rate on fixed deposits for a year to 5.5 percent in addition to increasing the interest rate on deposits for a period of two years to become 6.5 percent." The statement indicated that "the bank decided to pay interest for fixed deposits to be granted in advance, provided that the citizen undertakes not to break it and withdraw it, otherwise the interest granted will be deducted from the principal amount of the deposit, and this is the basis for the comparison between the deposit and the savings account and the customer." ############## Al-Rafidain raises the interest of saving accounts for depositors their money LINK

Taxes, the price of dollars, and the threat of "structuring" ... 3 reasons that push the government to "target" employees 2021-04-17 Yes Iraq: Baghdad The various governmental decisions in the field of "economic reform", reducing financial waste and maximizing revenues, follow many steps, most of which have become a conviction among the public and observers that the current government "targets employees", which raises questions about the desired goals of this approach. Since the formation of the current government and the establishment of the White Paper, and the statements of the Minister of Finance, all these indicators show the extent of the government's dissatisfaction with the amount of money consumed by government employees, while the step to reduce the dinar against the dollar to provide salaries has emerged, in addition to the intentions to impose taxes and deductions on the salaries of employees, and other indicators. The most recent of which was the hinting by the government financial advisor, Mazhar Muhammad Salih, that there are 400,000 employees in “losing” public companies who represent “dependents” on the state budget and consume salaries without compensation or production. While questions arise about the reason for this targeting towards employees, the economist Manar Al-Obaidi says in a clarification received by "Yis Iraq", "Since the first day of the Minister of Finance assuming his position, he unequivocally declared that the problem of the Iraqi state lies in the operating expenses, specifically in a file. Salaries, and any solution that does not include reducing these salaries and expenses, it is a non-radical solution and will be a patchwork solution. " Al-Obaidi considered that “reducing the exchange rate and raising the tax on the employee in the public sector has three main objectives,” indicating that these goals are: “Significantly reducing the market value of the salaries of employees in the public sector, and reducing the interest of job seekers to work in the government sector by not The existence of economic feasibility to work in the public sector, as well as "pushing employees in the public sector to switch to the private sector to reduce the number of public sector employees." He pointed out that "it is clear that the Iraqi government decided to reduce the value of public sector salaries to 50% of their current value," while Al-Obaidi points to a clear loophole that does not integrate with the government’s approach, representing “the lack of vigorous plans to support the private sector and government measures still hinder work in the private sector Accordingly, the state has not been able to create a real alternative to the public sector, and laws supporting the private sector and investment are still largely suspended. He states that "the Iraqi government has not been able to find support and motivation programs to reduce the impact of the measures taken, especially in the field of food and drug security, and left the citizen to face decisions alone." Closed, which contributes to creating a movement of internal money circulation, including support for the industrial sector, in both its productive and transformational sectors, as well as pushing for agricultural investment projects to provide all the products required in the agricultural market. Al-Obaidi added: "The Ministry of Finance is working in Mina from the Ministry of Agriculture, Industry and Trade, which means the complete absence of coordination to draw up an economic policy that works to increase the growth of the Iraqi economy and works to reduce the effects of decisions on the Iraqi citizen." LINK

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Yo Snap - This Chick Totally Looks Like She’s Wearing Clown Makeup ! That’s Pretty Hot ... Budget analysis and objectives for solving economic problems Thursday April 15, 2021 Prof. Nagham Hussein Nehmeh The fiscal policy in Iraq was characterized by structural imbalances, as the state’s general budget relies heavily on a limited single source to obtain a large part of public revenues, which is oil, and the state’s public expenditures have been characterized by imbalance as a result of the focus on current spending more than investment, and this reflects the nature Consumption of government spending, as current expenditures have become the largest portion of public expenditures. The rentier nature of the economic system in Iraq has made this economy one of the economies of developing countries that suffer from an imbalance in their production structure, as most of the gross domestic product and the product of the commodity sectors come from the oil sector, as this sector acquired the largest percentage, while other sectors are not Only modest proportions in this output. Since Iraq is going through a crisis that may be the most dangerous during the past two decades almost, a complex crisis (financial - health - political), but the biggest challenge is the financial side, in light of the decline in financial returns, as a result of the negative demand shock of oil caused by the Corona pandemic, the matter Which put the government in front of the problem of financial sustainability, with expectations of a decline in revenues by half or less during this year, and thus the public treasury reaching what is known as the financial gap after the revenues did not cover public expenditures, and here we find that it is inevitable. From taking a set of measures to address and solve the economic problems in Iraq: 1 - Adopting a number of financial reforms to restructure the general budget and achieve financial sustainability, by squeezing expenditures, especially compensation for workers, as they constitute approximately 65 percent of current expenditures. 2 - Implementation of the electronic collection and law enforcement project at border crossings and taxes in order to enhance the contribution of non-oil revenues to the general budget with revenues of about (10) trillions of Iraqi dinars. 3 - Indirect submission (via the secondary market) by the monetary authority to meet the budget deficit, and buy time until economic reform is achieved. 4 - Reducing the exchange rate of the Iraqi dinar to provide greater revenues for the treasury in the short term, as well as its role in achieving balance in the balance of payments in the medium term. 5 - Forming a commission linked to the prime minister that works to refer and follow up investment projects within the general budget instead of the ministries, that is, the ministries are concerned with planning the investment projects they need within their field, while the proposed commission is concerned with implementation procedures, and therefore separating planning from implementation will lead to hitting corruption in projects Government. 6 - Reconsidering the experience of the investment authorities in Iraq (departments and work mechanisms), as they are the key to economic reform by creating an attractive investment environment, as well as interest in improving Iraq's position in the international indicators for foreign investment, the ease of business index and other indicators, for their role in enhancing the confidence of the foreign investor Economy. 7 - Work to increase non-oil public revenues through a number of measures in the financial policy. 8 - Creating economic partnerships with neighboring countries and according to the need of the Iraqi economy, especially in the agricultural, industrial and transport sectors, to serve as automatic fenders to defend the local product in light of the unfair competition that it is currently exposed to and to confront the dumping policy pursued by those countries. * Dean of the College of Business Economics / Al-Nahrain University LINK

Results of the foreign currency sale window in the Central Bank of Iraq ... between the old exchange rate and the new exchange rate FRI, 16-04-2021, PM 9:40 KARRAR AL-ASADI 650 Written by: Dr. Emad Abdul Latif Salem To understand some of what is happening to our economy, our resources, our balance of payments, our budget, our monetary policy, our financial policy, and our economic "reforms" .. I would like to present this brief as a prelude to more in-depth and useful research and studies on this topic. First: The results of the window for selling foreign currency in the Central Bank of Iraq before the approval of the state budget for the fiscal year 2021 by the House of Representatives (1-4-2021), and before its approval by the President of the Republic (4-8-2021), are as follows: : 1. the results of the sale of foreign currency in the window of the Central Bank of Iraq for the period from Sunday 28/03/2021, on Wednesday to 31/03/2021: - total sales total: 77,988,937 million (only) - total cash sales: 0 (zero ) - Total sale for purposes of enhancing funds abroad (transfers and credits): 77,988,937 million dollars. Second: The results of the window for selling foreign currency in the Central Bank of Iraq after the approval of the state budget for the fiscal year 2021 by the House of Representatives (1-4-2021), and after its approval by the President of the Republic (4-8-2021), are as follows: : 1. the results of the sale of foreign currency in the window of the Central Bank of Iraq for the period from Sunday 11/4/2021, to Thursday , 15/04/2021 (only five days): - total sales total: 942 515 597 million (approximately One billion dollars, in just five days) -Total cash sale: 63,970,000 million dollars - Total sale for purposes of enhancing funds abroad (transfers and credits): 878,545,597 million dollars. Third: After the budget was approved in the House of Representatives (4-1-2021), the results of the foreign currency sale window in the Central Bank of Iraq continued to provide identical data before its approval, due to doubts (and expectations) that the President of the Republic might not approve it (and what was raised about the ratification of the foreign currency. Raising the value of the dollar against the dinar from an uproar) .. And after the approval of the President of the Republic (4-8-2021), the sales data witnessed a noticeable increase, as follows: 1 - Total sales for 4-6 and 4-7-2021: 52,135,650 million dollars 2 - Total cash sale: 0 (zero) 3 - Total sale for the purposes of strengthening balances abroad (transfers and appropriations): 52,135,650 million dollars 4- Once the President of the Republic approved the budget, the controversy, doubts and expectations about the review of the exchange rate specified in the budget ended, the results were Sales for 4-8-2021 as follows: - - Total total sales: 124,556,000 million dollars - Total cash sales: 5,770,000 million dollars - Total sales for the purposes of enhancing funds abroad (transfers and credits): 118,786,000 million dollars. Conclusion and Conclusions: Based on the above data, this means the following: 1- The new “exchange rate” could not reduce the demand for the dollar, or “control” and “legalize” its use to serve the national economy. On the dollar, to their previous rates before the change. 2- The sales of the foreign currency sale window in the Central Bank of Iraq increased from 77,988,937 million dollars only (before the approval and approval of the new exchange rate), to 942,515,597 million dollars, or nearly one billion dollars in just five days (after approval and approval of the new exchange rate. ) .. That is, more than ten times the sales (during the two weeks before and after the state budget was approved) .. We went back to that to the same daily sales rates before raising the value of the dollar against the dinar. 3- Most of the window sales (before and after changing the exchange rate) were intended for the purposes of strengthening assets abroad (transfers and credits) .. Thus, private banks are the main beneficiaries of them, despite all doubts (and suspicions of corruption, waste of foreign currency, laundering Money) surrounding its work, and the value of imports of goods and services mismatch with the value of dollar sales through the window of currency sale. 4- There is information (unconfirmed, or supported by the required documents) that most private banks incurred heavy losses during the months during which the issue of the new exchange rate was not resolved. This means that these "banks" are just "offices" and "shops" for speculating in dollars, and that they do not practice their traditional banking activities and do nothing to benefit the national economy. As soon as the exchange rate "officially" stabilized, these banks made huge profits again. This opinion is based on general information that may not be accurate .. I do not have accurate detailed data on this subject, and one of the duties and main tasks of the Central Bank is to verify this matter. LINK