Six points of disagreement impede the adoption of the Iraqi budget

[yota691]

 

The Territory begins to prepare the budget for 2019

Editorial Date: 2018/9/14 16:31 • 91 times read

(Baghdad: Al-Furat News) The Ministry of Finance and Economy in the Kurdistan Regional Government intensified its meetings with other concerned ministries to prepare a draft law for the budget of 2019.

The Director-General of the Budget of the Ministry of Finance and Economy Bayan Nuri said in a press statement that "after being informed by the Minister of Finance Ribaz Halaman to prepare a draft budget law, has been a period of time to send the book to ministries and departments to prepare a guessing budget." 
Nuri added that "the Directorate General of the budget directed a letter to the Supreme Committee for Oil and Gas in the Kurdistan region to determine the total revenues of oil and gas and its expenses."

[tennesseem]

LOL .. Take your time guys!  NO RUSH!!

[vomer]

"to prepare a guessing budget."  Good one.

[3n1]

If past history is the road map , then the " guessing budget " is the parliament members guessing how wealthy they will become in 2019 ... .... thanks yota for all the updates

[yota691]

Read the budgets of items

17/9/2018 12:00 am  Mohamed Sherif Abu Maysam   If we counted the total investment budgets since 2005 until 2018, except in 2014, where the disbursement under the Financial Management Law by one to 12 of the budget in 2013 because of the failure to approve the budget in that year, we find that the allocation of about 320 trillion Iraqi dinars, The framework of the budgets of items based on the availability of funds under the supervision of the disbursement limits of the appropriations listed and the purposes assigned to them, within the framework of routine legal procedures, concerned with the issue of tabulation on the basis of the type of expenditure, which does not clarify the achievement of the objective of spending, Unlike budgets Programs that are based on the interest of achievements and performance and the achievement of the objectives set within the economic programs concerned with the nature of the activities and the work of government agencies more than their interest in the subject of spending, and therefore, it sheds light on the work done to make sure that the results achieved equivalent to what was planned. The years 2013, 2015, 2012 and 2011 witnessed the highest investment financial allocations, which contributed to the expansion of investment spending in budgets that were recognized late due to political disputes. The first months of the fiscal year are lost between the readings in the House of Representatives and the consensus and then the approval and approval in the Presidential Council Publishing in the official gazette and setting the instructions for executing the budget and then initiating payment claims in installments, making the time factor a pressure factor in the implementation of government projects, usually spending in the last months of the year, spending hastily for fear that the money will return to the public treasury by the end of the age Finance. If we go beyond the other factors and what is hidden in the executive institutions, the pattern of investment spending in the balance of items with the time component of the compressor can explain the state of deflation in this institution, or waste and inaccuracy in that ministry, the more the expansion of spending, the more attention to the regulatory side than the interest To achieve the objectives for which it is spending, while the budget can achieve programs a set of positive goals at once, and lead to the need to raise the level of performance and rationalization of spending and prevent wasteful and evaluate the results by comparing plans.  Accordingly, as we approach the date of preparation of the budget of 2019, after the political process has seen more stability, and decreased the frequency of interactions, the relevant parties are invited to review the pattern of budget industry, and the delinquency towards program budgets to avoid the shortcomings left by our budget items.

[yota691]

The budget of 2019 depends on the amount of {55 - 60} dollars per barrel of oil

19/9/2018 12:00 am   At the rate of export of 4 million barrels per day  Baghdad / Tariq Araji                revealed the Ministry of Finance that the federal budget for next year 2019 approved $ (55-60) dollars a barrel and the rate of export up to four million barrels per day , inclusive of the source of the Kurdistan region, saying it continues to pay the debt and benefits arising Iraq.  Undersecretary of the Ministry Dr. Maher Hammad Juhan said in a special statement for "morning": that the federal budget has been prepared for the next year 2019, not to be stereotyped, as the general situation of the country changed from the position it was for the past years and there is a great need to be changed or enhanced forms of funding Whether the general budget or other budgets or forms of financing by borrowing or entering partnerships or to find outlets for the private sector work. He added that the current oil prices help to make these changes, as the budget to be submitted to the Council of Ministers, set the price of a barrel of oil exported between (55 - 60) dollars, giving the state a broader scope to strengthen services and expenses.

[yota691]

Timings and budget constraints

19/9/2018 12:00 am   Mohammed Abdul Zahra al - Hindawi   general state budget represents one of the most important annual laws, this importance comes as drawing on operational and investment spending tracks in the country, as well as identifying the sources of income and the mechanisms available through different sources and the amount of deficit schematic or realistic.  And thus represent the state's financial plan for next year, which includes the planned expenditures of ministries and provinces and various institutions in terms of securing salaries of employees, which reach about 40 trillion dinars annually, as well as the provision of allocations for investment projects carried out throughout the country.   These tracks are determined according to the forecast of revenues expected to be achieved through oil sales, which represent the largest share of budget funding, or through taxes and fees on services and revenues of border ports and contributions of   other sectors . As a result of this importance, the budget enters into multiple tunnels and does not come out of them until after the painstaking efforts of all parties concerned starting from the ministries and governorates and independent bodies, which submit their annual programs, through the Ministries of Planning and Finance, up to the Council of Ministers, to the House of Representatives, She returns again to enter into the same spending that she entered on the first trip because of the objections and observations of members of the House of Representatives, and then turn to resume the trip again.  Then passed by it must go to the Presidency of the Republic for approval and then to the fact sheet for publication, and then the Ministries of Planning and Finance to issue the implementation instructions, the government may challenge some items that the House of Representatives to change or   add. Such a strenuous journey will take a period of time that in some years will cross the first third of the year or more. So as not to stand confused at the time unable to address the problems that may arise in the course of implementation.  And here we want to talk about the budget of 2018, which approved the price of a guess $ 46 per barrel, and a deficit reached about 13 trillion dinars, has been described as austerity budget because many aspects of spending was not allocated the amounts required due to lack of financial resources .. After days began oil prices improve slowly Slowly, the Ministry of Finance began to speak of a financial abundance that helped fill the fiscal deficit in the   budget.  But the problem faced by the government, especially after the events in the province of Basra and other provinces, is how to provide financial allocations for doors not covered under the  budget law  .   At a time when there was a huge financial abundance, the Ministry of Finance could not transfer funds between the doors because the law prevents this, nor could talk about the preparation of a supplementary budget in the absence of the House of Representatives.   Therefore, some articles of the budget law have become a constraint on the government in providing appropriate financial allocations to provide services despite the availability of   financial liquidity . And here and because we are still in the early stages of preparing the budget for the next year 2019, and with optimistic expectations of the arrival of oil prices to about $ 80, there should be a clear vision of this budget and reconsider all its doors away from the political effects that were subject to the budget for the year 2018 due to synchronization Prepared with the end of the legislative session and therefore some of the visions that governed the preparation were political visions trying to establish for the  next stage  .   We believe that the circumstances of Iraq now require the preparation of a budget capable of meeting the requirements of development properly, and the need to address all the problems that turned into constraints that tied the government's hand in spending on vital and  strategic projects  .

[Butifldrm]

financial economy reveals the price of a barrel of oil by the budget of 2019, including Kurdistan

 Twilight News    

 3 hours ago

 

The Ministry of Finance revealed that the federal budget for the next year 2019 approved the amount of (55 - 60) dollars per barrel of oil and an export rate of up to four million barrels per day, including the source of the Kurdistan region, stressing the continuation of the payment of debt and the benefits of Iraq.

The semi-official newspaper "Sabah" quoted Undersecretary Dr. Maher Hammad Juhan as saying that the federal budget has been prepared for the next year 2019. It should not be stereotyped, since the general situation of the country has changed from the position it had for the past years and there is a great need to change or be strengthened Different forms of financing, whether the general budget or other budgets or forms of financing by borrowing or entering partnerships or to find outlets for the private sector work.

He added that the current oil prices help to make these changes, as the budget to be submitted to the Council of Ministers, set the price of a barrel of oil exported between (55 - 60) dollars, giving the state a broader scope to strengthen services and expenses.

Keywords:

http://www.shafaaq.com/ar/Ar_NewsReader/f023bcaf-57bf-4f53-93e9-a9c096a08f49

[Butifldrm]

 

2018/09/19 08:37

• Number of readings 49
• Section: Iraq
•  
• Fance reveals oil exports in the 2019 budget

 

 

The Ministry of Finance revealed on Wednesday, 19 September 2018, that the federal budget for the next year 2019 adopted the amount of "55 - 60" dollars per barrel of oil and an export rate of up to four million barrels per day, including the source from the Kurdistan region.

Undersecretary of Ministry Maher Hammad Guhan said in a press statement that "the federal budget is prepared for the next year 2019, not to be stereotyped, because the general situation of the country changed from the position it had for the past years and there is a great need to change or strengthen the various forms of funding, Public or other budgets or forms of financing by borrowing or entering partnerships or to find outlets for the private sector to work. "

He added that "the current oil prices help to make these changes, as the budget to be submitted to the Council of Ministers, the price of a barrel of oil exported between" 55 - 60 "dollars, giving the state a broader scope to strengthen services and expenses.

He stressed "the continuation of the budget to pay the debts and the benefits of Iraq."

The Cabinet discussed in its regular session last Tuesday, the draft federal budget law for fiscal year 2019.

Follow the obelisk

http://almasalah.com/ar/news/150678/المالية-تكشف-عن-صادرات-النفط-في-موازنة-2019

 

 

[yota691]

Finance: The budget of 2019 was adopted $ 55 - $ 60 per barrel of oil

 

Ministry of Finance logo

money and business Economy News Baghdad The Ministry of Finance, Wednesday, that the federal budget for the next year 2019 adopted the amount (55 - 60) dollars per barrel of oil and an export rate of up to four million barrels per day, including the source from the Kurdistan region. Undersecretary of Ministry Maher Hammad Juhan said in a statement quoted by the official newspaper "Sabah" and read by "Economy News", that "the federal budget was prepared for the next year 2019, but not be stereotyped multi-directional, as the general position of the country changed from the position it had for years The past and there is a great need to be changed or enhanced forms of funding different both the general budget or other budgets or forms of financing by borrowing or entering partnerships or finding outlets for the private sector to work. "The current oil prices are helping to make these changes. The estimated budget to be submitted to the cabinet has set the price of a barrel of oil exported between $ 55 and $ 60, giving the state a wider scope to enhance social services and expenses such as salaries and education expenses," he said. Health, medicines, ration card expenses, subsidies and social protection networks, and there is no deficit either in allocating or financing and supporting the activities of projects that benefit the activity in the market, which activates the private sector to occupy its real space by providing jobs and infrastructure suitable for services or activities. Crown ". "The federal budget adopted the amount of Iraqi oil exported daily between (3.8 - 4) million barrels, including the quantities exported from the Kurdistan region," and expressed the hope that "this export volume is achieved, because Iraq currently exports only 3.8 Million barrels and sometimes less because of different circumstances, especially the status of Kirkuk, which did not issue the amount of the prescribed. " "However, the rise in global oil prices helped to find the treatment of financing the deficit in the budget of up to 12.5 trillion dinars, which rose to 19 trillion dinars after the approval of the House of Representatives," explaining that "the difference in prices helped to bridge the deficit, as Iraq has not resorted to external or internal borrowing, it has been positive. " Views 49   Date Added 19/09/2018

 

[ChuckFinley]

On 9/19/2018 at 8:23 AM, yota691 said:

Finance: The budget of 2019 was adopted $ 55 - $ 60 per barrel of oil

 

Ministry of Finance logo

money and business Economy News Baghdad The Ministry of Finance, Wednesday, that the federal budget for the next year 2019 adopted the amount (55 - 60) dollars per barrel of oil and an export rate of up to four million barrels per day, including the source from the Kurdistan region. Undersecretary of Ministry Maher Hammad Juhan said in a statement quoted by the official newspaper "Sabah" and read by "Economy News", that "the federal budget was prepared for the next year 2019, but not be stereotyped multi-directional, as the general position of the country changed from the position it had for years The past and there is a great need to be changed or enhanced forms of funding different both the general budget or other budgets or forms of financing by borrowing or entering partnerships or finding outlets for the private sector to work. "The current oil prices are helping to make these changes. The estimated budget to be submitted to the cabinet has set the price of a barrel of oil exported between $ 55 and $ 60, giving the state a wider scope to enhance social services and expenses such as salaries and education expenses," he said. Health, medicines, ration card expenses, subsidies and social protection networks, and there is no deficit either in allocating or financing and supporting the activities of projects that benefit the activity in the market, which activates the private sector to occupy its real space by providing jobs and infrastructure suitable for services or activities. Crown ". "The federal budget adopted the amount of Iraqi oil exported daily between (3.8 - 4) million barrels, including the quantities exported from the Kurdistan region," and expressed the hope that "this export volume is achieved, because Iraq currently exports only 3.8 Million barrels and sometimes less because of different circumstances, especially the status of Kirkuk, which did not issue the amount of the prescribed. " "However, the rise in global oil prices helped to find the treatment of financing the deficit in the budget of up to 12.5 trillion dinars, which rose to 19 trillion dinars after the approval of the House of Representatives," explaining that "the difference in prices helped to bridge the deficit, as Iraq has not resorted to external or internal borrowing, it has been positive. " Views 49   Date Added 19/09/2018

 

At 55 to 60 oil they should be well within budget  and should be getting off the begging wagon for international help.  

[yota691]

Al-Hadithi: The budget for the next year will include 10,000 degrees

 

Saad al-Hadithi

money and business Economy News Baghdad Prime Minister Haider al-Abadi announced on Sunday that the budget for next year 2019 will include 10,000 degrees. "The main framework of the budget is social, as most of the expenses will be on the level of operational or investment related to social services through direct expenditure of citizens or services related to them, especially," the spokesman for the office Saad al-Hadithi said in a statement quoted by the official Iraqi News Agency. After the financial allocations approved by the Council of Ministers for strategic projects in the provinces, including Basra. Al-Hadithi added that "the volume of spending will be greater than revenues," stressing that "the guarantee of more than 10 thousand degrees and functional within the movement of owners will be distributed according to the population ratios of the provinces." He explained that "the budget has reached the final version, as will be distributed to the draft presidencies and relevant bodies such as ministries of education and oil and other, in addition to the World Bank," and expected "to vote in the House of Representatives end of this year or early next year. Number of Views 8   Date Added 23/09/2018

[6ly410]

http://www.alsabaah.iq/ArticleShow.aspx?ID=163590
24/9/2018 12:00 AM

Baghdad / Sabah 
Saad al-Hadithi, spokesman for the Prime Minister's Media Office, said that the budget next year 2019 Finance can be called the budget of employment opportunities and support the private sector and improve services to citizens, revealing that the budget includes more than 10 thousand degrees and functional within the movement of owners. 
Al-Hadithi said in a statement to the Iraqi News Agency "conscious": "The basic framework of the budget is social, as most of the expenses will be on the operational level or investment related to social services through direct spending of citizens or services related to them, especially after the financial allocations approved by the Council of Ministers for strategic projects In the provinces, including Basra. 
He added that "the volume of spending will be greater than revenues," stressing that "the guarantee of more than 10 thousand degrees of functionality within the movement of owners will be distributed according to the population ratios of the provinces."
Al-Hadithi said that the budget has reached its final version, as it will be distributed to the presidencies and the relevant bodies such as the ministries of education, oil and others, in addition to the World Bank, and expected to vote in the House of Representatives at the end of this year or early next year.

[TexasMike1958]

Does it include 10000 degrees of RV?????

[10 YEARS LATER]

Always next year.

[Butifldrm]

Expert: Wrong and repeated estimates of the price of oil in the budget of 2019

2 hours ago

NRT 
The economic expert and professor at the University of Basra, Nabil Mersoumi, Saturday, the existence of false and repeated estimates of the price of oil in the budget next year 2019 .

Al-Marsoumi said in a statement on the Facebook site today, September 29, that Oil Minister Jabbar al-Luaibi said that the budget for 2019 will be based on a price between $ 50-55 per barrel, indicating that "these estimates seem to be subject to personal mood To the Ministry of Oil, that is not based on studies and scientific basis in calculating the price of a barrel.

He added that it is supposed to be a base price for a barrel of oil calculated according to the rate of sale of the barrel during the three months preceding the preparation of the budget and then conduct a prospective study based on standard models to predict oil prices within a year or rely on some studies of outlook for oil organizations such as OPEC or agency In the light of which the hedging margin is determined. "

 He pointed out that the average sale of Iraqi oil during the past three months amounted to about $ 69 a barrel, which should be mainly in the estimates of the price of oil in the budget of 2019, and then determine the margin of hedging, which was supposed to be very limited.

He pointed out that all the specialized studies indicate that oil prices will rise significantly in 2019 because of the high growth in global demand and because of the significant shortage of oil supplies of Iran and Venezuela, and will result in this large difference between oil prices planned and actual confusion in the disbursement of funds allocated for investment, Petrodollars and investment expenditures of ministries, which will inevitably affect the nature of services provided to the public.

He concluded by saying that "the difference between public revenues planned and actual will be more than $ 24 billion, which will cast doubt on the accuracy of the Iraqi budget, which represents the accuracy of the estimate of expenditures and public revenues one of the indicators of modern budgets, and will resort to the Iraqi government as we return to external borrowing to meet the deficit planned in the general budget Or it will resort to the preparation of a supplementary budget will not have an impact in the implementation of the government program because of the short time available to implement the supplementary budget, "he said.

The final statistic issued by the Iraqi oil marketing company "Sumo", confirmed earlier that the total quantities exported crude oil for the month of August from the oil fields in central and southern Iraq has seen an increase in terms of quantities exported and financial revenues achieved compared to the past period, 7 billion and 735 million and 548 thousand dollars, and the average price per barrel was 69,651 dollars.  

R.

http://www.nrttv.com/AR/News.aspx?id=4883&MapID=5

[Butifldrm]

Deputy: Government completed the budget law of 2019

13:43 - 07/10/2018

Information / Baghdad ..

MP revealed the alliance of the conquest of Amer al-Fayez, Sunday, the determination of the House of Representatives to approve the financial budget for the year 2019 end of this year, indicating that the current government has completed the budget law and will hand it to the next government to make some amendments and submitted to Parliament.

Fayez said in a statement to Al-Mawloma that "the current government has completed the financial budget law for 2019, but it is waiting to form the next government to make some amendments and submitted to the House of Representatives."

He added that "the next government will make some adjustments in accordance with its future government program to launch development projects and public services."

Fayez said that "the parliament will approve the budget law before the end of this year as a first step in the consultation of legislation and to support the work of the next government.

 

"'http://www.almaalomah.com/2018/10/07/351892/

[Pitcher]

FY2019 budget to be passed by parliament at end of 2018

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Iraqi Parliament

The Council of Representatives of Iraq will pass the budget bill for fiscal year (FY) 2019 by the end of this year, according to Fatah Coalition MP Amer al-Fayez on Sunday.

 

He affirmed that the former government has drafted the budget, to be handed to the new one for amendments and submitting it to the parliament.

“The budget for FY2019 is ready, waits for the formation of new government to make amendments and submit it to the parliament,” al-Fayez stated on Sunday.

The new government should make amendments according to its vision and reform plan, then submit it to parliament for approval.

The newly-appointed PM Adil Abdul Mahdi is tasked to form a new government within the next 30 days of his appointment, according to the Iraqi constitution.

 

https://www.thebaghdadpost.com/en/Story/32017/FY2019-budget-to-be-passed-by-parliament-at-end-of-2018

 

 

[Mr. Haney]

What! They are trying to RV so they can support Iran?

[Pitcher]

They need to put into their budget a way to pay us for investing in their Currency. .10 works for me. 

[cranman]

Hear  hear!

[NoviceInvestor]

47 minutes ago, Pitcher said:

They need to put into their budget a way to pay us for investing in their Currency. .10 works for me. 

.10 works nicely for me.. But something I am noticing is that they are releasing new lower denom notes .. but no small coinage..

[Theseus]

We will see if this budget gets passed by the end of 2018. The way they are dragging their heels they will be lucky to have a fully formed government by November. Pass the budget in a month? More like three to four months.

[DinarThug]

LINK

Budget of 2019: $ 56 rate of oil price of the barrel and raise the proportion of real estate tax

 

 

11th October, 2018 - 

The draft budget bill for Iraq for the next year 2019 revealed that the estimated revenues were calculated from the export of crude oil on the basis of the rate of 56 dollars per barrel and an export rate of 3 million and 880 thousand barrels per day, including 250 thousand barrels per day of the quantities of crude oil produced in the provinces of Kurdistan on the basis of spending 1182 dinars per dollar

The draft said that "the total deficit planned for the federal budget for fiscal year 2019 amounted to 22 trillion and 873 billion and 365 million and 557 thousand dinars," indicating that "the deficit will be covered by the deficit of the abundance of increased prices of crude oil source or increase exports of crude oil

"The Kurdistan region's share of the total actual spending according to the souls of each province after the exclusion of sovereign expenditures," said the draft that "the failure of the Kurdistan region to pay the federal revenues received to the federal public treasury will be deducted the quota set for them and the reconciliation is carried out later

The draft banning the recruitment of all state departments in the manner of contracting with the possibility of renewal of previous contracts in the case of necessity and calculated the duration of the contract to install permanent owners of the actual service and stop appointments in the three presidencies (the House of Representatives and the Presidency of the Republic and the Council of Ministers and its affiliates The amendment of the tax rate of the real estate tax law No. 162 of 1959, amended under section 6 of CPA

 

[yota691]

Finance: Budget 2019 includes the installation of contractors

01:41 - 11/10/2018

 

 

 

BAGHDAD - 
The Ministry of Finance announced on Thursday that the budget bill next year guarantees the installation of contractors according to the movement of owners in addition to calculating the duration of the contract as a service. 
"The Prime Minister Haider al-Abadi asked in a meeting of the Council of Ministers held last Tuesday, to brief ministers on the budget in detail and to submit their amendments and proposals according to the needs of their ministries and institutions," said Deputy Minister Maher Hammad Johan in a statement to the newspaper "Sabah" and his official / Affiliate ". 
"The deadline for receipt of proposals and amendments will be the end of official working hours on Thursday," Johann said.
"The Cabinet Undersecretary said that" the Council of Ministers is expected to hold on Sunday an extraordinary session to discuss the draft budget law in its final form and approval, "noting that" the vote on the draft budget law was supposed to take place last Tuesday. "