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Showing results for tags '3 year budget strategy'.
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Today.. Parliamentary Finance begins discussing the budget Iraq 2023/04/26 Baghdad: Shaima Rashid and Omar Abdul Latif And Muhannad Abdel Wahab Today, Wednesday, the Finance Committee in the House of Representatives begins discussing the federal general budget for the years (2023-2024-2025) and works through 3 paths to reduce the deficit rate to 20 percent, and the members of the committee indicated in conversations with “Al-Sabah” that approving the budget will not be long delayed. And they emphasized that the Prime Minister gave the committee great flexibility in order to make amendments in cooperation with the Ministries of Finance and Planning. A member of the committee, Mustafa Al-Karawi, told Al-Sabah: "The committee will begin today, Wednesday, its discussions regarding the budget," and indicated that "the committee will go towards reducing operational budgets directly, unnecessary investment, and reducing loans." He expressed his hope that "such paths will help reduce the budget deficit, which is considered abnormal and could cause future economic problems for the country." For his part, a member of the Finance Committee, Jamal Cougar, said in an interview with “Al-Sabah”: “The budget will pass and the vote on it will not be delayed, especially since not all ministers will be hosted, but the ministers whose financial transfers are made to and from their ministries will be hosted, and this also applies.” Conservatives and others, which reduces the time period for approving the budget. He added, "The committee has the power to reduce and transfer, and this is what will be worked on in order to reduce the deficit," explaining that "until now, the matter has not been resolved, as the numbers have not been checked or the concerned authorities have hosted." He stressed that "Al-Sudani gave all flexibility to the Finance Committee and expressed his willingness to send the advanced staff in the Ministries of Finance and Planning for the participation of the Finance Committee in its sessions that need them," noting that "the government requested a budget for three years, so there should be a serious scrutiny of all the numbers in the budget to avoid Any mistake, and we should also be keen to reduce the deficit, because all indications say that oil prices will not remain at these numbers and will decline in the coming years. And he continued, "The government has this rounded year of money and perhaps for the next year as well, and we may not have this rounded in 2025, so we must make accurate calculations for this matter, and for that the committee will add a paragraph that (the government is tasked with sending a budget for the next year with amendments to it." ) Because it is unreasonable for oil prices to change and the budget does not change.” Cougar suggested that the budget would be approved “at the end of next May.” In turn, a member of Parliament, Salem Al-Anbuge, said: "Many important points are still pending in the 2023 budget, most notably the deficit, which constitutes 33 percent of the budget's volume, which is a large number, but efforts are being made to reduce it to 20 percent in a way that gives more flexibility." Especially since the government made pledges to cover the fiscal deficit and treat it according to specific financial contexts. In addition, economist Haitham Al-Husseini said: The committee can squeeze "capital" expenditures in this year's budget. Al-Husseini told "Al-Sabah": "This type of expenditure includes (maintenance, kerosene, gasoline, furniture and other materials that can be reduced), especially since comparing this year's budget with its previous counterparts shows that there is an increase in the capital budget." He added, "The budget needs radical solutions to the issue of its preparation due to the presence of a lot of wasted money and accounting errors, as the budget must be restructured to be consistent with the event and the directions of the state. It is not possible to adopt the same budget that I used while I am following a socialist system in which the government has complete control over all joints." Today we are heading towards open trade. The economist suggested applying the "unified treasury" system that exists all over the world, "to know how much are the expenditures and revenues, and it is possible to know the financial movement of the amounts that are spent from anywhere in the country. Iraq must go beyond the classics in preparing its budgets and achieving the correct financial management system." In a related context, a member of the Legal Committee, Mahmoud Al-Salami, said, in an interview with Al-Sabah: -
Parliamentary Legal: The budget will be presented to Parliament next March two hours ago 494 Today, Sunday, the Parliamentary Legal Committee suggested that the federal budget for the fiscal year 2023 will reach the House of Representatives next March. The deputy head of the committee, Baqir Al-Saadi, said in a press interview seen by Taqaddam that: “The budget for the year 2023 will be presented to the House of Representatives next March, and it will be explosive, as it will shed light on raising the livelihood of the Iraqi citizen.” He added, "The budget will include large strategic and service projects, some of which are included in the emergency food support law." Al-Saadi continued, "The infrastructure in all governorates will also be highlighted, and there is an intention to hold all negligent parties accountable in the file of services and reconstruction." https://takadum-news.com/archives/151405 -
Why advises Iraq not to raise the price of a barrel of oil in the port of 2022? Time: 02/20/2022 00:40:04 Reading: 2002 times {Economic: Al Furat News} The economist, Hamza Al-Jawahiri, advised the federal government not to raise the price of a barrel of oil in the 2022 budget and to keep it as it is. Al-Jawahiri explained via {Euphrates News} that: "It is in Iraq's economic interest to keep the price of a barrel of oil in the 2022 budget as it is and not to raise it, and to exploit the additional oil revenues from the price difference per barrel in sustainable development projects, provided that it is far from the hands of corruption and spoilers." He stressed, "the need not to link the change in the exchange rate of the dollar in the country to the rise in oil prices, because the dollar is related to the country's internal economy, while oil and its revenues have a different economy that can improve the economic reality in the country significantly through investment projects and development funds." Al-Jawahiri pointed out that "there are economic steps with economic feasibility in the future that will be able to improve the economic reality in general." The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed through Al-Furat News about the features of the financial budget for the current year 2022, which is very similar to the budget for the year 2021, in terms of operating and investment doors and others. Salih identified three factors that should be remedied before hasty thinking about adjusting the average return on oil barrels for the purposes of the 2022 budget. Financial management, i.e. 3% of the country's gross domestic product. While the financial expert Salah Nouri expected that the budget for the year 2022 will be larger than last year, due to the presence of ruling expenses, the most important of which is security after the recent security developments in the country However, a member of the former Parliamentary Finance Committee, Sherwan Mirza, expected that 2022 would be free from the federal budget - to delay the formation of the government, which needs more than a month, after which the budget law is studied and sent to the House of Representatives. And that studying the budget in the House of Representatives may take more than two months, and the continuation of the disbursement of the 1/12 allocations. As for the Iraqi Minister of Finance, Ali Abdul-Amir Allawi, he said earlier that the Iraqi government had adopted in the draft federal general budget for Iraq for the year 2022 the price of a barrel of exported oil at 50 dollars, compared to 70.47 dollars, the selling price of a barrel of oil (Brent crude). The Ministry of Oil announced the total exports and revenues achieved for the month of January. According to the preliminary statistics issued by the Iraqi Oil Marketing Company "SOMO", {Al-Furat News} received a copy of it, the amount of crude oil exports amounted to (99) million (286) thousand and (78) barrels, with revenues amounting to (8.27) billion dollars. The statistics indicated that the total quantities of crude oil exported for the month of last January from oil fields in central and southern Iraq amounted to (96) million (430) thousand and (596) barrels, while from Kirkuk fields through Ceyhan port, the exported quantities reached (2) ) One million and (545) thousand and (656) barrels. The average daily exports amounted to (3) million and (203) thousand barrels, while the average price per barrel was (83,246) dollars. From: Raghad Daham
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Deputy: The 2022 Budget Is Explosive ECONOMIC LAST UPDATE 02/20/2022 | 3:05 PM information/special On Sunday, State of Law Representative Firas Turki expected the 2022 budget to be explosive for several reasons. Turki said in a statement to the "Information" agency, "The 2022 budget will be explosive in relation to previous years for several reasons, the most important of which is the increase in oil production, the increase in demand, and most importantly, oil prices will be between 60_70 dollars, figures that previous budgets did not witness." He added, "Through our work as representatives of the people, we seek to monitor the next government and work to provide all life requirements such as electricity, water and a decent life for the citizen." He pointed out that "the next government must provide all the requirements for a decent life, such as infrastructure, job opportunities, and others, as it has a very large budget." It is noteworthy that the price of a barrel of oil exceeded $90 per barrel, especially in the recent period. A member of the Finance Committee, Jamal Cougar, revealed, earlier, the possibility of approving the 2022 budget before the formation of the new Iraqi government. ALMAALOMAH.ME نائب: موازنة عام 2022 انفجارية المعلومة/ خاص..توقع النائب عن دولة القانون فراس تركي، الاحد، موازنة عام 2022 ستكون انفجارية لعدة أسباب.وقال تركي في تصريح لوكالة / المعلومة/، إن "موازنة عام 2022 ستكون انف... -
Parliamentary Finance: Al-Kazemi government is working to complete the 2022 budget before the elections 2021-05-18 05:11 Shafaq News / The Parliamentary Finance Committee announced today, Tuesday, that the Ministry of Finance has moved to prepare the draft general budget law for 2022, while noting that the government is working to complete the budget before the elections. Committee member Jamal Cougar told Shafaq News Agency, "There is a move by the Ministry of Finance to prepare the budget bill for 2022, for the purpose of that a sub-committee was formed from members of the House of Representatives for the purpose of discussing and following up the process of preparing the law." He added, "The government of Prime Minister Mustafa Al-Kazemi is in charge of preparing the budget law and sending it to the House of Representatives according to the Financial Management Law, provided that it begins preparing it in the current month of May and completes it at the beginning of next October, prior to the date of the parliamentary elections." Cougar said, "In the event that elections are held on time, the members of the next session of the House of Representatives are the ones working to read, discuss and vote on the budget law for 2022."
