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Showing results for tags 'parliamentary finance committee'.
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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: -
Finance Meets To Complete The Mechanisms For Preparing The Rules To Be Followed By Government Agencies When Implementing Their Budgets 5/22/2023 https://earthiq.news/wp-content/uploads/2023/05/١-1.jpg?v=1684781749 Earth News / The Undersecretary of the Ministry of Finance, Masoud Haidar, chaired on Monday the periodic meeting of the Committee for the Implementation of the Instructions of the Federal General Budget for the year 2023, which included the general directors and directors of the concerned departments in the Ministries of Finance and Planning. According to a ministry statement received by Earth News, "the meeting completed the mechanisms for preparing rules and instructions to be followed by government agencies when implementing their budgets, in accordance with the principles of transparency and flexibility and raising the efficiency of their operations stipulated in accordance with the law, in addition to achieving optimal performance and avoiding potential risks." It is noteworthy that the instructions for the implementation of the state's general budget are the basic document for the Ministry of Finance and government agencies in the implementation of the budget in all its stages to achieve the economic priorities set. -
For three years.. 'People' publishes a draft budget law for Iraq 2023.03.18 - 14:55 Baghdad - Nas On Saturday, Nass publishes the draft federal budget law for three years. And the draft stated, "Calculating the contract period for those who are fixed on permanent staffing as an actual service for the purposes of bonus, promotion and retirement, in a way that does not entail any financial consequences retroactively, provided that the retirement contributions are met, including the department's share for the calculated contract period." The draft budget also included "transferring the appointments file in all government institutions to the Public Service Council." To view the draft budget: click here And the House of Representatives announced, on Friday, that it had received the draft budget law. Deputy Speaker of the House of Representatives, Shakhwan Abdullah, said in a statement, which "NAS" received a copy of, (March 17, 2023), that "the draft federal budget law reached the parliament last night." Earlier, the government spokesman, Basem Al-Awadi, announced that the draft budget law would be handed over to Parliament. Al-Awadi said in a statement, which “NAS” received a copy of, (March 17, 2023), that “in implementation of the provisions of the Constitution and the Federal Financial Management Law, yesterday evening, Thursday, the draft federal budget law for the Republic of Iraq for the fiscal years 2023, 2024, and 2025 was officially handed over. to the House of Representatives. He added, "The draft budget law, with its new articles and paragraphs that were approved for the first time, is capable of facilitating the implementation of executive and development projects, plans and programs, and providing infrastructure and services for citizens." A member of the Parliamentary Finance Committee, Jamal Cougar, suggested approving the state’s federal budget for the current year before Eid Al-Fitr. The Financial Management Law No. 6 of 2019 allowed the Federal Ministry of Finance to prepare a medium-term budget for a period of (3) three years, to be submitted once and legislated, and the first year is obligatory. Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, explained to the official agency that “the circulation of the sums allocated to the governorates for the purposes of investment spending, which could not be disbursed during the fiscal year, was included in the draft federal budget law for the year 2023, which is a flexible and unrestricted mechanism that allows the governorates to conduct financial actions within Its annual allocations related to investment spending on projects. He added, "Financial Management Law No. 6 of 2019 in force and amended in 2020 took the issue of allocated unspent financial allocations to the governorates by preserving their rights in allocation in order to sustain spending on investment projects without delay or delay." Last Monday, Prime Minister Muhammad Shia al-Sudani said in a press conference: “In this budget, we gave the governorates the right to recycle the allocated amounts,” stressing that “the priorities of the government program will be present in the 2023 budget, and the three-year budget supports financial stability.”
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Parliamentary Finance resolves the matter: We do not have any authority to change the price of the dollar 2021-03-21 08:51 Shafaq News / The Parliamentary Finance Committee confirmed, on Sunday, that the parliament does not have any authority to change the exchange rate of the dollar against the Iraqi dinar in the general budget law, while noting that changing the price will affect the restructuring of the budget. A member of the committee, Ahmed Hajj Rashid, told Shafaq News, "It is not possible to reduce the exchange rate of the dollar in the budget law, and any change to that will affect the restructuring of the budget and change its provisions and the articles of the law." He added that "any change in the exchange rate will cause a decrease in financial revenues in the general budget law, higher expenditures and an increase in the financial deficit," stressing that "Parliament does not have any authority to change the exchange rate."
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Parliamentary Finance: The 2021 budget will be passed by consensus of the political blocs Yesterday, 18:28 503 Political Baghdad - INA - Noor Al-Zaidi , the Parliamentary Finance Committee confirmed, today, Monday, that the 2021 budget will be passed in agreement with all political blocs. A member of the committee, Naji Al-Saeedi, told the Iraqi News Agency (INA): "The vote on the budget will be at the end of this week," indicating that "the budget will not be passed without consensus." He added, "The budget will pass in agreement with all political blocs, including the Kurdish blocs," ruling out "voting on the budget by the majority." Al-Saeidy added, "If there had been a majority vote, negotiations would not have continued and the approval of the budget would have been delayed until this moment." Earlier, the Parliamentary Finance Committee announced the completion of all articles of the General Budget Law, and delivered a letter to the Presidency of the Council of Representatives since February 15, 2021, for the purpose of setting a date for voting on it.
