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Al-Fatlawi calls on the political forces to overcome differences and approve the 2021 budget quickly Feb 20,2021 On Saturday, Hanan Al-Fatlawi, the head of the Will Movement, called on political forces to overcome differences and approve the 2021 budget quickly. Al-Fatlawi said in a tweet to her on "Twitter", "2020 went without a budget, and today we approach the end of the first quarter of 2021 and the country is still without a budget." She added, "The political forces must overcome the differences in order to quickly approve them, as various factions are waiting impatiently for their approval."

Parliamentary Finance determines the date for voting on the budget Feb 19, 2021 Today, Friday, the Finance Committee has set the date for voting on the federal budget for 2021. Committee member Sadiq Al-Sultani said, according to the official agency, that " next Thursday will be the date for voting on the 2021 budget after reaching a final government agreement regarding the region's oil exports," indicating that "the government and the region’s delegation have reached a semi-final agreement on the region’s oil exports and its share in the budget. ". He added that "the agreement is to deliver 250 thousand in-kind barrels per day for the benefit of the National Oil Marketing Company (SOMO), and the remaining production will be paid in the form of production, marketing and domestic consumption costs in the region."

Representatives: The budget has been transformed into reform, and the government must activate non-oil sectors to liberalize the economy (video) Economie 2021-02-17 | 08:18 Representatives: The budget has been transformed into reform, and the government must activate non-oil sectors to liberalize the economy 172 views•Premiered 47 minutes ago Source: Sumerian 387 views The total of amendments to the federal budget by Parliament, according to its members, came in order to reinforce the non-oil sectors, especially the private sector, which is a step that needs serious measures by the government to strengthen it, and also needs to change the strategy of preparing public budgets. Diversifying the Iraqi economy and liberating it from rent restrictions, which make it a hostage to the whims of the global market, MPs assert that it is an inevitable necessity, but it requires first of all to release the hand of the local producer and support it, with decisions they described as courageous. The government plans, according to the Prime Minister’s statements Mustafa Al-Kazemi Activating the white paper through which it seeks to activate and suppor t the non-oil sectors, especially agriculture, industry and trade, as well as investment.

To the Executive Authority .. To the Central Bank of Iraq .. A proposal POSTED ON 2021-02-17 BY SOTALIRAQ To the executive authority To the Central Bank of Iraq Suggestion The need to adjust the exchange rate of the Iraqi dinar towards the US dollar. Dr . Dulaimi Star 1- The devaluation of the national currency of the Iraqi dinar in favor of the US dollar and making the exchange rate of the dinar against the US dollar at 1450 is an unfair, ill-considered and urgent exchange rate, which is against the interest of the Iraqi people and economy, and that the first beneficiaries of this are regional and international countries and Arab and foreign companies And the ruling political elite ... as the wealth of the Iraqi people is bought cheaply according to the new exchange rate, and this means systematic plundering ((law)) of the wealth of our Iraqi people, at a very low price, and he played in achieving this the failure of the Minister of Finance and the President of the Central Bank of Iraq according to Guidance from the International Monetary Fund and the World Bank. 2 - that the ruling authority today represents and applies an extremist and brutal neoliberal approach according to the directives of the International Monetary Fund and the World Bank, and that today's exchange rate of 1450 is in the interest of the ruling political elite, in the interest of the leaders of the political parties, blocs and political currents influential today in governance and in cooperation and coordination with the administrative and bureaucratic bourgeoisie, the shadow economy forces, and the mafia-brokers ... so they have seized the wealth of the Iraqi people and became millionaires and billionaires, in the American dollar and the Iraqi dinar, and with this stolen money, state institutions will be purchased from factories, large factories, oil and gas, agricultural land, fuel and electricity stations, and other state assets at a very low price and without supervision, and the well-known popular proverb applies (( He is chatting while he eats, without supervision and calculation. '' 3 - A new exchange rate is required for the Iraqi dinar towards the US dollar, which is one dinar equals one US dollar. This requires deleting the three zeros, for example, the 1000 dinars become Iraqi dinars, and the million dinars (1,000,000) one thousand Iraqi dinars (1000), and according to the new exchange rate 1000 dinars equals 1000 US dollars, and this is in the interest of the Iraqi citizen and economy as a first stage and work in the future to return a new exchange rate Each dinar equals $ 3, as it was previously. 4 - That this can be achieved because Iraq is rich in its natural wealth of oil, gas, gold and phosphates ... .. In addition to that, there is a realistic possibility of developing agricultural and industrial production ..., that is, creating material production in order not to import, and this will be in the interest of the national economy by not buying goods Food, medicine, and durable goods in hard currency, and then Iraq can export goods and services abroad and obtain hard currency, as well as work to retrieve the stolen money and return it to the Iraqi people, which range between $ 850-trillion. These material and basic elements are considered as a first stage to adjust the exchange rate of the Iraqi dinar. One dinar for one US dollar 5- The Iraqi people, public and professional organizations, national, progressive and left-wing personalities, and professors of Iraqi universities and institutes, must demand a new exchange rate adjustment in the interest of the national economy

Parliamentary Finance: The current budget is the two-year budget, and this is the date for approval Feb 7, 2021 Representative of the Parliamentary Finance Committee, Jamal Cougar, said today, Sunday, that the current budget is the "two-year" budget, while indicating that the vote on the budget will take place at the beginning of next week. Cougar said during his speech to Alsumaria newsletter, "The current budget may be a two-year budget due to the proximity of the elections and their consequences." Regarding the committee's meeting with Al-Kazemi, he stressed that "the government has shown its willingness to implement what the Finance Committee deems in the House of Representatives, and the need to pass the budget away from political bickering and cacophony voices that do not want to be approved." Couger pointed out to "the signing of a memorandum of understanding between the two offices of financial oversight in the central government and the government of the Kurdistan region," stressing that "what was agreed upon between Baghdad and Erbil and what was included in the budget in this regard was the full conviction of both parties." In another context, a member of the Finance Committee affirmed that "the budget will approve the price of 42 dollars per barrel, and as long as oil prices continue to rise from the current price by about 60 dollars, there will be a cash surplus, and a supplementary budget is prepared for it." According to Cougar, "The Finance Committee asked Al-Kazemi, before going towards the vote, to hold a session that includes the Presidency of Parliament, the Presidency of Ministers, concerned ministers and heads of political blocs, to agree on the instructions for implementing the budget to avoid falling into the mistakes that we made during the previous budget." Voting on the budget at the beginning of next week. "

Representative law determines Parliament's priorities before going to the legislative recess Feb 7, 2021 Today, Sunday, the Parliamentary Legal Committee determined the Parliament's priorities before going to the legislative recess. The committee's rapporteur, Muhammad al-Ghazi, said in an interview carried by the Iraqi News Agency, that "the interrogation of the governor of the Central Bank, and of the head of the Media and Communications Commission, will be on the agenda of the House of Representatives." He pointed out that "the council's agenda will include the budget law before going to the legislative recess." The Prime Minister’s Office had confirmed earlier, the agreement to intensify the holding of sessions between the executive and legislative authorities, to ensure the approval of a reform budget that preserves the rights of the citizen, and as soon as possible.

Parliamentary Finance The government delivers the new version of the 2021 budget Feb 7, 2021 The Parliamentary Finance Committee confirmed, on Sunday, that it has delivered to the government the new version of the draft budget for 2021. "The committee delivered the new version of the general budget for 2021 to the government," said Majida Al-Tamimi, a member of the committee, in statements reported by official media. This morning, the committee held the forty-second session today, in the presence of Prime Minister Mustafa Al-Kazemi, the Ministers of Finance, Planning, Oil, Housing, Construction, Municipalities and Works and the Secretary General of the Council of Ministers.

In the presence of Al-Kazemi .. Parliamentary Finance discusses the draft budget law Feb 7, 2021 The Parliamentary Finance Committee held its forty-second meeting, at which it would resume its discussions on the draft federal budget bill for 2021. The Media Department of Parliament said in a statement that "the Finance Committee is discussing the draft 2021 budget law." She explained that "the committee is witnessing the presence of the prime minister and the ministers of finance, planning, oil, housing, construction, municipalities, works and the Secretary General of the Council of Ministers."

The budget is preparing for voting .. The Finance Committee has reached the final stages ... and the political blocs are preparing for review Feb 6, 2021 The Parliamentary Finance Committee announced that it had reached the final stages before the vote on the 2021 budget. The committee stated: "It has accomplished more than 90 percent of its work in the budget, confirming the inclusion of administrators, craftsmen, writers, guards and volunteer service employees, similar to the free lecturers with financial appropriation within the budget law." For its part, the Iraqi Forces Bloc announced, on Saturday, that the vote on the General Budget Law for 2021 will be imminent, noting that the final version of the law will be presented to the political blocs before the voting session. The deputy head of the bloc, Raad al-Dahlaki, said, "The Parliamentary Finance Committee is in the process of setting the last points of the budget law and is very keen to present the latest version of the law to the political blocs despite the difference of views on some articles of the law." He added that "the Finance Committee includes representation of the political blocs and is aware of the amendment taking place on the articles and paragraphs of the budget law. The final version of the law will be considered before voting." Al-Dahlaki pointed out that "the budget law will be presented to a vote in the coming days, but it has not yet been determined when the date for the vote on the law has been set." Representatives in the Iraqi parliament announced that the Finance Committee has completed nearly 95% of the articles and items of the current year budget.

Parliamentary preferences in Iraq to pass the 2021 budget in isolation from the Kurds Feb 5, 2021 Baghdad - “Al-Quds Al-Arabi”: Jamal Cougar, a member of the Parliamentary Finance Committee, hinted at the possibility of passing the controversial federal budget bill for 2021, regardless of Kurdish representatives, while the presidency of the parliament considered the budget as a guarantor of citizens' rights from Zakho to Basra. Cougar said that «the committee held its meeting No. 40 to discuss the transfers, paragraphs and items within the federal budget», pointing out that «the committee hosted during the meeting, the President of the Federal Service Council and his accompanying delegation». He added that « the committee will resume its meetings early next week to finish the bill and vote on it, while passing the federal budget law is not ruled out, in the event of incompatibility with the Kurdish blocs in the House of Representatives» noting that «the House of Representatives passed two laws without compatibility with those blocs, namely The law of financing the fiscal deficit, and the decision to remove American forces from the country, ”as he put it. In the context, the First Deputy Speaker of Parliament, Hassan Al-Kaabi, confirmed that the general budget for 2021 will guarantee the rights of citizens from Zakho (the far north) to Basra (the far south). He said in the government media, that “negotiations are continuing between the federal government and the regional government regarding the outstanding problems between the two parties, such as the issue of oil and non-oil imports,” indicating that “the negotiations between the two parties are going correctly and the difference is on digital and technical aspects, including what is related to the number of the region’s employees and the nature of oversight in the Office of Supervision. The Federal Commission and the Federal Integrity Commission on some sectors in the region and the mechanisms for controlling the illegal and legal outlets in the region that affect the Iraqi economy and local production ». He stressed that "the current year’s budget will be Iraqi, especially for the people from Zakho to Basra, and there is no preference for one party over another," pointing out that "natural resources are a right for all Iraqis." He pointed out that «the budget problems lie in the outstanding matters between the region and the center, in addition to the volume of high spending in it, and that there is no budget in any country in which the deficit is 44 percent, stressing that" the members of Parliament are serious that future generations do not incur additional loans to fill the deficit. Or for projects that have no priority ». The Parliamentary Finance Committee announced a deduction of 20 percent from the budget of the three presidencies in the 2021 budget, while it confirmed reducing the budget ceiling to 130 trillion dinars instead of 164 trillion (one thousand and 450 dinars against the dollar). Majda Al-Tamimi, a member of the Deputy Committee, said, according to the same source, that "the paragraph concerning the deductions that came from the government in the draft budget was canceled and compensated by the application of the Income Tax Law No. 113 of 1982." She added that «the spending ceiling in the budget has been reduced from 164 trillion dinars to 130 trillion, and other revenues have also been increased», stressing that «the budget included a lot of economic reforms». She explained that she "chaired the special subcommittee of the three presidencies in the budget and was able to deduct 20 percent of the budget of each presidency from the three presidencies in the budget." She pointed out that «the House of Representatives took the role of the executive and legislative authorities at the same time in the 2021 budget» indicating that «each article in the budget has been studied 5 times and extensive discussions». And she continued, “The Financial Committee hosted 90 to 95 percent of the executive bodies, including the Office of Financial Supervision, and important observations in the oil sector and licensing rounds were discussed,” noting that “there is great waste and losses in this sector, part of which needs a decision and other parts. Into law ». On the budget of the Baghdad Municipality, Al-Tamimi said, "The budget allocations for the Municipality and the Baghdad Governorate were discussed in order to implement investment projects and provide services to the capital," noting that "the Baghdad Municipality is still dealing in the collection in old currencies such as 20 dinars or 40 dinars, and the housing takes a levy from it." 120 dinars and 200 dinars commercial, and these currencies do not exist at the present time ». On the five-year leave for employees, she confirmed that “the five-year leave has been approved for one time, meaning the employee is not entitled to take a second leave, indicating that the five-year employee is covered by the income tax law from his nominal salary.”

Deleting zeros from the Iraqi currency ... An imminent economic collapse Feb 5, 2021 The financial and economic situation in Iraq is constantly worsening, in the absence of high oil prices, in addition to the continued embezzlement and control of hard currency by the parties in the country. The remedies do not seem close, especially since Iran is tightening its grip on Iraqi resources, without taking into account the real crisis in Mesopotamia. However, activists and experts have talked about the possibility of resorting to "deleting zeros." But the economic expert, Rasem Al-Aqidi, warned against the step of dropping zeros from the country's currency, as it could lead to the collapse of the Iraqi dinar. Al-Akidi said in a press statement, that "dropping zeros from the Iraqi currency is not of use at the present time, especially since the government and its financial tools do not control the monetary mass that the country possesses." Adding that «the decision to drop the zeros from the currency must be preceded by a series of important things, including the state’s control of the largest monetary mass, so that hard currencies do not accumulate at the central bank. Al-Aqidi pointed out that "raising the zeros without controlling the greater proportion of the monetary mass may lead to the collapse of the dinar because the state is not in control of the currency." Also, "the neighboring countries, companies, banks, and those who control the economy may resort to a game that leads to its collapse, which also leads to a double loss of the dinar's value against the dollar," according to the expert. Iraq has been suffering for about a year from an economic downturn that has threatened the financial security of the Iraqis, specifically the segment of employees, and the spread of the " Corona " virus caused a decrease in the prices of oil, which is the source of the treasury of Mesopotamia. Political conflicts also led to the suspension of the approval of the fiscal budget for the current year 2021, which is indicated to be the service of the parties loyal to Iran, and not the Iraqi people who are waiting for services and a decent life.

Expert: Canceling 3 zeros from the currency will lead to the collapse of the process ... Iraq needs a "rescue plan '' Feb 5, 2021 Baghdad Today - Special Economic expert Rasim al-Akidi warned against the step of dropping zeros from the country's currency, indicating that this step may lead to the collapse of the Iraqi dinar. Al-Aqidi said in an interview with (Baghdad Today), that "dropping zeros from the Iraqi currency is not feasible at the present time, especially since the government and its financial instruments are not in control of the monetary mass that the country possesses." He added that "the decision to drop zeros from the currency must be preceded by a series of important matters, including state control over the largest monetary mass, so as not to accumulate hard currencies at the central bank." He pointed out that "raising the zeros without controlling the greater proportion of the monetary mass may lead to the collapse of the dinar, because the state does not control cash for the clubs of neighboring countries, companies and banks, and whoever controls the economy may resort to a game that leads to its collapse, which leads to a double loss of its value against the dollar." The economic expert, Rasim al-Aqidi, identified earlier, about 4 negatives that would emerge at once if the Iraqi government went to float the Iraqi dinar. Al-Aqidi said in an interview with (Baghdad Today), "The floating of the dollar, or what is known as the liberalization of the exchange rate, takes place through two methods, the first is pure or free, and the second is the controlled or controlled method, and in both cases the price of the dollar will rise against the Iraqi dinar and will lead to the withdrawal of a large amount of the monetary mass in the markets. ". He added, "Withdrawing a large monetary block offset by 4 drawbacks at the same time will arise and the affected will be large segments, including the increase in prices in the markets in addition to the factories’ reluctance to produce because the value of profits will decrease in front of costs in addition to the absorption of per capita income and the increase in rental prices, so the interest will be limited compared to other damages. ". Al-Aqidi pointed out that "Iraq needs an economic rescue plan that starts from maximizing non-oil revenues, which are many and keeping the influential authorities away from them because a large part of the financial resources does not go to the state treasury, and this is part of the causes of the current financial crisis in the country."

If they pass everything, A POTTY BREAK would be the sanitary option.

Parliament announces that its work will continue until the budget is approved Feb 4, 2021 The Speaker of Parliament, Muhammad al-Halbousi, announced today, Thursday, that the parliament will continue its work until the approval of the draft federal budget bill for the fiscal year 2021. On December 29, 2020, the House of Representatives had extended its first legislative term of the third legislative year for a period of one month, in order to complete many important legislations for the coming period, including the draft budget law.

I guess the exchange rate will be in the budget!

Parliamentary Finance: Next week, the date for voting on the budget Feb 3, 2021 Baghdad / Iraq News Network - The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, said today, Wednesday, that the committee will end, next week, the discussions on the budget and vote on it. And then refer it to Parliament for a final vote.

YES!

Great Find DT!

I guess its in there!

Actually, its been on the website over 10 years, but not really relevant until now. I thought it would be an interesting post. To see how long it has been there, you can always use the wayback machine: Take me back to 2011 !

Priceless! Good one!

SDR - Special Drawing Rights added to CBI.iq website 1/26/2021

Iraq and Kuwait are discussing the file of remaining debt payments and the possibility of postponing their payment Jan 25, 2021 Parliament Speaker Muhammad al-Halbousi, on Monday, and Kuwaiti Prime Minister Sabah Khaled Al-Hamad Al-Sabah discussed the file of the remaining payments of debts and the possibility of postponing their payment. Al-Halbousi's office said in a statement that the latter "met, today, Monday, the accompanying delegation with the Kuwaiti Prime Minister Sabah Khaled Al-Hamad Al-Sabah, and the meeting discussed enhancing the prospects for cooperation between Iraq and Kuwait in accordance with mutual interests in all fields, and the importance of activating the joint Iraqi-Kuwaiti ministerial committee and strengthening Its work, as well as the formation of a joint parliamentary committee to activate cooperation and follow-up and accelerate government procedures in the field of investment, trade and free zones. The meeting also discussed "the file of the remaining payments of debts owed by the Iraqi government to Kuwait, and the possibility of postponing their payment due to the financial crisis and the economic situation that Iraq is going through."

Resolving the budget is approaching .. Expectations to vote within days Jan 21, 2021 A member of the Finance Committee, Magda Al-Tamimi, revealed today, Thursday, that the vote on the 2021 budget is imminent. Al-Tamimi said in a statement that "the meetings of the Finance Committee are continuing, with the hosting of several official bodies to find out the accurate data of each ministry and institution to explain some of the articles and the extent of their economic feasibility, in preparation for taking decisions on controversial articles and after reviewing the most prominent obstacles facing each party." Al-Tamimi pointed to "the diligent work of the sub-committees formed by the Finance Committee to provide detailed reports on the budgets of the three presidencies, ministries, institutions and all bodies, and from the principle of exchanging visions in preparation for resolving what is related to the 2021 budget, especially with regard to reducing expenditures and increasing revenues." And she continued, "It is hoped that the budget will be presented to a vote within days."