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Halaboussi: We have feedback on activating the budget and we hope there will be steps in this regard

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3 hours ago, 10 YEARS LATER said:

Could it be ..... maybe it’s time to manufacture another Crisis full of dysfunction and argument-or can they resolve this matter like civilized Adults ?

BAwhahahah!  You said civilized adults!!!

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Finance unveils new study on employee payroll taxes

 
 
 

March

       
 
Financial reveal ...
 
 

Alsumaria News / Baghdad 
revealed the General Authority of Taxation of theMinistry of Finance, on Monday, for the preparation of anew study concerning taxes the employees ' salaries, announcing the continuation of its plan to reduce thetax for those with limited income. 

"The study of the salary tax is based on the formation of a percentage of the salary so that the tax on the higher salaries more than the tax on the minimum salaries in the state," the official newspaper "Sabah" quoted the head of the General Authority for Taxation,Abbas Ali .

She added that "the reduction of the tax sought by the Commission to apply to limited income does not include employees, because this segment is supposed to impose a tax on the total salary and not on the nominal as is the case," noting that " Up to eight years are not taxable, and the maximum amount is 15 percent of the nominal salary. "

 

Ali pointed out that "the Commission continues to implement its plan set up until 2023, which provides for the advancement of the reality of tax work and the achievement of revenues to the financial budget in additional amounts according to methodology and scientific work in line with developments . " 

The Commission has recently submitted a study to the Minister of Finance in this regard, and this study was submitted to the Prime Minister for decision, "noting that" the Authority seeks to reduce taxes for this segment to alleviate them on the one hand, and diversion of effort and investment of staff in the Commission to obtain taxes from oil companies and telecommunications and put them to the sales tax on hotels and restaurants on the other.

She pointed out that "the estimates of tax amounts according to the federal budget for the current year 2019, estimated at four trillion dinars, but the plan of the Commission requires the collection of tax amounts outstanding five trillions dinars for the current year." 

The government proposed imposing more taxes on the budget bill of 2019 to increase non-oil revenues to help reduce the fiscal deficit. 

https://www.alsumaria.tv/mobile/news/262434/iraq-news?utm_campaign=Alsumaria-Web-Push&utm_source=News&utm_term=Web-Push-News-262434&utm_medium=262434-المالية-تكشف-عن-دراسة-جديدة-تتعلق-بضرائب-رواتب-الم....

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Headquarters of the General Authority for Taxation
  

 money and business


Economy News Baghdad

The Ministry of Finance raised a study to the Prime Minister to reduce the volume of taxes obtained from low-income people of professions and free work, while confirming the unification of tax work with the Kurdistan region, expected that the tax revenues during the current year to five trillions dinars. 

The head of the General Authority for Taxation in the Ministry of the successful Abbas Ali, in a statement quoted by the newspaper "morning" official and briefed by "economy News", "The Commission continues to implement its plan set up until 2023, which provides for the advancement of the work of tax and the achievement of revenues to the financial budget additional amounts according to Systematic and scientific work in line with developments. " 

"The plan provides for the reduction of the tax for those with limited incomes, especially those covered under the paragraph (income of professions and free business), as the Commission has recently submitted a study to the Minister of Finance in this regard, noting that this study was submitted to the Prime Minister to decide. 

She pointed out that "the tax exemption is not only by law," asserting the efforts of the Authority to reduce taxes for this segment to mitigate them on the one hand, and the other side so as not to occupy this segment the General Authority for Taxation because the preparation of large, which requires the provision of significant services by the Department and weak revenue, The Authority to transfer the effort and investment of the staff of the Commission for the collection of taxes from oil companies and telecommunications and their implication for sales tax on hotels and restaurants. 

She stressed that "reducing the size of the tax does not include employees, because this segment is supposed to impose a tax on the total salary and not on the nominal as is currently happening," noting that "However, the staff of the lowest grades up to eight are not taxable and the upper limit is 15 Percent of the nominal salary, "revealing" the preparation of a study of the salary tax is based on the formation of a percentage of the salary so that the tax on the higher salaries more than the tax on the minimum salaries in the state. " 

The head of the Tax Authority, the unification of tax work with the Kurdistan region, explicit on the formation of a joint committee in which the representatives of the region and the General Authority for Federal Taxes raised a document confirming the unification of work, and actually was through the border crossing there to open a unit to calculate the tax in the region, The employee is not in the same place as the other sites, so it became one deal and the same tax rate and raised the book to the Minister and when the ratification is raised to the Secretariat of the work in accordance with the record and tax revenues in the region to raise the statistics to be interrupted by the Department of Parallel Of the share of the region in the budget.

And the estimates of tax amounts according to the federal budget for the current year 2019, pointing out that the budget has disclosed the need to collect tax amounts estimated at four trillion dinars, but the plan of the Commission requires the collection of tax amounts exceeding five trillions dinars for the current year.


Views 83   Date Added 03/04/2019

 
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2019/03/04 08:30
  • Number of readings 44
  • Section: Iraq
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Finance expects to collect 5 trillions of dinars of taxes during 2019

 

The federal finance ministry expected on Monday, March 4, 2019, to get 5 trillions of dinars from taxes in 2019, while referring to the unification of tax work with the region, and raising a study to the prime minister to reduce the volume of taxes obtained from low income.

The head of the General Authority for Taxes in the Ministry, Abbas Ali success, in a press statement followed by the obelisk, that "the Commission continues to implement its plan to the year 2023, which reduces the tax for those with limited incomes, especially covered by the paragraph" income professions and free business. "

"The reduction of the tax does not include employees, because this segment is supposed to impose a tax on the total salary and not on the nominal as is currently the case."

"A joint committee was set up in which representatives from the region and the General Authority for Federal Taxation were established, and the unification of the tax deal itself was started," she said.

"The Commission's plan requires the collection of tax amounts exceeding five trillions dinars for the current year."

Follow the obelisk

http://almasalah.com/ar/news/165278/المالية-تتوقع-استحصال-5-ترليونات-دينار-من-الضرائب-خلال-2019

 

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On 1/16/2019 at 7:23 AM, Butifldrm said:

Amending the Companies Law No. 21 of 1997

Notes on the amendment of the Companies Law No. 21 of 1997 by the Coalition Provisional Authority

 
Prof. Mohamed Helou El-Khorsan
It is well known that the stability of the laws of great importance, especially those of interest to a large number of stakeholders, the importance of consistency in the clarity of the paragraphs of those laws and deal with them on this basis, both as regards the general conditions and the basic requirements for the establishment of companies as far as the law of companies which We are going to talk about it, as well as the capital increase or reduction or accession and withdrawal partner, as well as the nature of tax accounting and tax rate for each type of companies.
However, the importance of steadfastness to the laws referred to does not mean stagnation and stagnation of these laws and not to modify them in proportion to the accelerating changes in the surrounding environment in general and economic and financial ones in particular. Thus, the amendment of the laws achieves the desired goal which focuses on the general interest of the state and citizens without prejudice or negative impact. On stakeholders directly involved in that law.
In Iraq, the former Companies Act was Law No. 36 of 1985, but there are positive reasons for its time which led to the replacement of the previous law by the current law No. 21 of 1997, and this law was amended by the Coalition Provisional Authority (represented by Paul Bremer) Change in Iraq 2003.
However, it is noted that this amendment did not take into account the interest of the Iraqi state directly, but was aimed at serving foreign capital at the expense of national capital. The amendments also aim to achieve the investor's desire to achieve profits without considering the public interest and the type of activity and the extent of its agreement with development plans and the need of the Iraqi market Activity, the purpose of the amendment can be inferred when you know it has been very quickly after the change in Iraq.
The most important amendments to the law and its purpose will be reviewed in comparison to the text of the legal article that has been suspended or amended.
Article (1) The old text (this law aims at organizing and documenting companies and developing their activities according to the requirements of development plans and requirements of the stage of socialist construction).
Revised Text (This law aims to: 
1. Organization of companies.
2. Protection of creditors against fraud. 
3. Protecting shareholders from conflicts of interest and from misbehavior of Company officials and owners of the majority of shares in them and controlling their affairs effectively. 
4. Promote the provision of full information to owners regarding decisions affecting their investments and their company.
We note that the focus is on the protection of creditors and shareholders and providing information to them without interest (by organizing and developing the activity of companies in accordance with the plans of development and socialist construction), and by the way that the Coalition has removed the term or the word Socialist from all paragraphs of the amended law, and seems to think that this is a residue and ideas The former regime without realizing that it is an important sector within the organization of companies and businesses in Iraq.
Article (2) has been suspended.
• The old text of the article:
The objectives of the law are fulfilled according to the following principles: 
• Encouraging the investment of national capital in companies and supporting and sponsoring them according to the controls and indicators of development plans and planning decisions. 
• Second, to regulate the activity of companies in order to ensure their role in the planned economic development.
The question is whether it is in the interests of the Iraqi state and people to suspend the article that calls for encouraging national capital and controlling the activity of companies within the planned economic development. Or, what is important for the Coalition Authority is foreign capital and the activity in any field, whether important or unimportant to Iraq As much as it is important to make profits for the foreign owner of the funds.
• Article (12) Amended Text:
First, a natural or legal person, an alien or an Iraqi, has the right to acquire membership in the companies provided for in this law as the founder thereof, holder of shares or a partner thereof, unless such membership is prohibited by law or as a result of a decision issued by a competent court or entity Authorized government. 
• II.
• III.
Ancient text of the article:
First: The Iraqi has the right to acquire membership in the companies stipulated in this law, founders, shareholders or partners, unless he is forbidden to his person or his status, from membership of companies under a law or decision issued by the competent bodies in the State.
Second: Citizens of Arab countries who are residents of the Arab countries shall treat the treatment of Iraq in respect of the acquisition of membership in the Iraqi companies contributing and limited, taking into account the laws in force. 
Thirdly, moral persons, whether public or private, may not acquire membership in an Iraqi company unless they also enjoy Iraqi nationality.
 It seems clear that the amendment is intended to be equal between the Iraqi and the foreign in the right to acquire membership of the company, as well as the suspension of the text on the inadmissibility of acquisition of non-Iraqi personalities membership in Iraqi companies, and as a result that became the major banks belonging to other countries involved in banking companies in Iraq has made huge profits through the conversion of foreign currency outside Iraq, and the same talk is said for the telecommunications companies, transport and extraction and others.
• Article (13) The amended text
The founders shall sign a contract for the company signed by them or by their legal representatives. The contract shall include a minimum of: 
First: The name of the company and its type. The name of the company shall be added to the name of the company if it is a mixed sector company, and any other acceptable elements shall be added to its name.
Second: the main headquarters of the company, to be in Iraq. 
Third, the purpose for which the company was established, and the general nature of the work to be performed. 
IV.
Fifth: The company's capital and its division into shares or shares
Sixth - How to distribute profits and losses in the companies of solidarity
Number of elected members of the Board of Directors of the Private Shareholding Company 
Names of the founders, their nationalities, occupations, permanent residences and the number of shares of each or any amount 
His share.
When looking at the old text of the article and specifically in the third item and item IV, which has been suspended, we note:
• The old text of the article:
• The founders shall prepare a contract for the company, signed by them or their legal representatives, containing: 
First - the name of the company derived from its activity, mentioning its type with the addition of a mixed word if mixed and the name of one of its members at least if it was a solidarity or an individual project, and it is possible to add any acceptable name if the contribution or limited. 
• Second - the main position of the company to be in Iraq 
Third: The company's objective is to confirm its role in developing the national economy according to development plans 
• The company's activity derived from its objective, provided that it is within one of the economic sectors and any other sectors related to its activity 
Where we find that the first item was modified linking the name of the company derived from its activity, while this was canceled by the amendment and I mean the purpose of this is clear.
In the third item was canceled the goal of the company confirmed its role in the development of the national economy and here also raises the question of the goal of the abolition of that and why the Coalition Authority is keen on the amendment on the exclusion of companies from the development of the Iraqi economy and to the health of the amendment.
The same is said for the fourth item, which was suspended under the amendment, noting that it indicates the need to agree the activity of the company from its goal, which is supposed to be within one of the sectors 
Economic development.
It is clear from the foregoing the keenness of the Coalition Authority in amending the Companies Law to ensure that the companies under this law are distilled from their important role and activity in building the Iraqi economy. It seems from the foregoing that this was a reason to object to Article 14 in the federal budget law for the year 2019 and not to oppose the participation of the Iraqi private sector known nationalism and the safety of goals and concern for the public interest.
Complement the next parts
University of Dhi Qar
Member of the team of advisers in the Ministry of Finance
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On 1/16/2019 at 7:23 AM, Butifldrm said:

Amending the Companies Law No. 21 of 1997

Notes on the amendment of the Companies Law No. 21 of 1997 by the Coalition Provisional Authority

 
Prof. Mohamed Helou El-Khorsan
It is well known that the stability of the laws of great importance, especially those of interest to a large number of stakeholders, the importance of consistency in the clarity of the paragraphs of those laws and deal with them on this basis, both as regards the general conditions and the basic requirements for the establishment of companies as far as the law of companies which We are going to talk about it, as well as the capital increase or reduction or accession and withdrawal partner, as well as the nature of tax accounting and tax rate for each type of companies.
However, the importance of steadfastness to the laws referred to does not mean stagnation and stagnation of these laws and not to modify them in proportion to the accelerating changes in the surrounding environment in general and economic and financial ones in particular. Thus, the amendment of the laws achieves the desired goal which focuses on the general interest of the state and citizens without prejudice or negative impact. On stakeholders directly involved in that law.
In Iraq, the former Companies Act was Law No. 36 of 1985, but there are positive reasons for its time which led to the replacement of the previous law by the current law No. 21 of 1997, and this law was amended by the Coalition Provisional Authority (represented by Paul Bremer) Change in Iraq 2003.
However, it is noted that this amendment did not take into account the interest of the Iraqi state directly, but was aimed at serving foreign capital at the expense of national capital. The amendments also aim to achieve the investor's desire to achieve profits without considering the public interest and the type of activity and the extent of its agreement with development plans and the need of the Iraqi market Activity, the purpose of the amendment can be inferred when you know it has been very quickly after the change in Iraq.
The most important amendments to the law and its purpose will be reviewed in comparison to the text of the legal article that has been suspended or amended.
Article (1) The old text (this law aims at organizing and documenting companies and developing their activities according to the requirements of development plans and requirements of the stage of socialist construction).
Revised Text (This law aims to: 
1. Organization of companies.
2. Protection of creditors against fraud. 
3. Protecting shareholders from conflicts of interest and from misbehavior of Company officials and owners of the majority of shares in them and controlling their affairs effectively. 
4. Promote the provision of full information to owners regarding decisions affecting their investments and their company.
We note that the focus is on the protection of creditors and shareholders and providing information to them without interest (by organizing and developing the activity of companies in accordance with the plans of development and socialist construction), and by the way that the Coalition has removed the term or the word Socialist from all paragraphs of the amended law, and seems to think that this is a residue and ideas The former regime without realizing that it is an important sector within the organization of companies and businesses in Iraq.
Article (2) has been suspended.
• The old text of the article:
The objectives of the law are fulfilled according to the following principles: 
• Encouraging the investment of national capital in companies and supporting and sponsoring them according to the controls and indicators of development plans and planning decisions. 
• Second, to regulate the activity of companies in order to ensure their role in the planned economic development.
The question is whether it is in the interests of the Iraqi state and people to suspend the article that calls for encouraging national capital and controlling the activity of companies within the planned economic development. Or, what is important for the Coalition Authority is foreign capital and the activity in any field, whether important or unimportant to Iraq As much as it is important to make profits for the foreign owner of the funds.
• Article (12) Amended Text:
First, a natural or legal person, an alien or an Iraqi, has the right to acquire membership in the companies provided for in this law as the founder thereof, holder of shares or a partner thereof, unless such membership is prohibited by law or as a result of a decision issued by a competent court or entity Authorized government. 
• II.
• III.
Ancient text of the article:
First: The Iraqi has the right to acquire membership in the companies stipulated in this law, founders, shareholders or partners, unless he is forbidden to his person or his status, from membership of companies under a law or decision issued by the competent bodies in the State.
Second: Citizens of Arab countries who are residents of the Arab countries shall treat the treatment of Iraq in respect of the acquisition of membership in the Iraqi companies contributing and limited, taking into account the laws in force. 
Thirdly, moral persons, whether public or private, may not acquire membership in an Iraqi company unless they also enjoy Iraqi nationality.
 It seems clear that the amendment is intended to be equal between the Iraqi and the foreign in the right to acquire membership of the company, as well as the suspension of the text on the inadmissibility of acquisition of non-Iraqi personalities membership in Iraqi companies, and as a result that became the major banks belonging to other countries involved in banking companies in Iraq has made huge profits through the conversion of foreign currency outside Iraq, and the same talk is said for the telecommunications companies, transport and extraction and others.
• Article (13) The amended text
The founders shall sign a contract for the company signed by them or by their legal representatives. The contract shall include a minimum of: 
First: The name of the company and its type. The name of the company shall be added to the name of the company if it is a mixed sector company, and any other acceptable elements shall be added to its name.
Second: the main headquarters of the company, to be in Iraq. 
Third, the purpose for which the company was established, and the general nature of the work to be performed. 
IV.
Fifth: The company's capital and its division into shares or shares
Sixth - How to distribute profits and losses in the companies of solidarity
Number of elected members of the Board of Directors of the Private Shareholding Company 
Names of the founders, their nationalities, occupations, permanent residences and the number of shares of each or any amount 
His share.
When looking at the old text of the article and specifically in the third item and item IV, which has been suspended, we note:
• The old text of the article:
• The founders shall prepare a contract for the company, signed by them or their legal representatives, containing: 
First - the name of the company derived from its activity, mentioning its type with the addition of a mixed word if mixed and the name of one of its members at least if it was a solidarity or an individual project, and it is possible to add any acceptable name if the contribution or limited. 
• Second - the main position of the company to be in Iraq 
Third: The company's objective is to confirm its role in developing the national economy according to development plans 
• The company's activity derived from its objective, provided that it is within one of the economic sectors and any other sectors related to its activity 
Where we find that the first item was modified linking the name of the company derived from its activity, while this was canceled by the amendment and I mean the purpose of this is clear.
In the third item was canceled the goal of the company confirmed its role in the development of the national economy and here also raises the question of the goal of the abolition of that and why the Coalition Authority is keen on the amendment on the exclusion of companies from the development of the Iraqi economy and to the health of the amendment.
The same is said for the fourth item, which was suspended under the amendment, noting that it indicates the need to agree the activity of the company from its goal, which is supposed to be within one of the sectors 
Economic development.
It is clear from the foregoing the keenness of the Coalition Authority in amending the Companies Law to ensure that the companies under this law are distilled from their important role and activity in building the Iraqi economy. It seems from the foregoing that this was a reason to object to Article 14 in the federal budget law for the year 2019 and not to oppose the participation of the Iraqi private sector known nationalism and the safety of goals and concern for the public interest.
Complement the next parts
University of Dhi Qar
Member of the team of advisers in the Ministry of Finance
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The parliamentary finance announces the transfer of the budget of the region, including the non-Muslim oil revenues to the center

15:56 - 27/03/2019
0
 
  
%D8%A7%D9%85%D9%88%D8%A7%D9%84-696x435.j

Information / special ... 
The Finance Committee of the parliamentary, on Tuesday, the transfer of the budget of the region for the year 2019, including the amount of oil quantities that did not turn Kurdistan to Sumo. 
"The budget of 2019 includes paragraphs and legal provisions governing the oil relationship between the region and the center," said Ahmed al-Saffar, member of the committee. 
He added that "Article X paragraph II of the budget requires the region to deliver 250 thousand barrels per day from the wells of Kurdistan to the company Sumo of the Federal Oil Ministry." 
He explained that "Kurdistan did not abide by the Convention and refrained from converting 250 thousand barrels per day," noting that "point C of the second paragraph address the situation and committed the federal government to deduct amounts of oil not converted from the Kurdistan budget for 2019."
He stressed that "the central government turned the budget for 2019 to Kurdistan, excluding the quantities of oil not converted by the Kurdistan to Sumo."

https://www.almaalomah.com/2019/03/27/396329/

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On 3/4/2019 at 7:55 AM, Jaygo said:

Gonna be hard to do with a worthless currency. 

Thinking the same thing.  At 1 to 1 your are talking some money. 

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20 minutes ago, Goggles said:

Seems to me the RV is inevitable. 

Would have to agree. We just have to wait it out. The more positives we see the more the pressure there will be to RV. 

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46 minutes ago, Goggles said:

Seems to me the RV is inevitable. 

 

24 minutes ago, ChuckFinley said:

Would have to agree. We just have to wait it out. The more positives we see the more the pressure there will be to RV. 

My new favorite word INEVITABLE!!😆

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 money and business


Economy News _ Baghdad

The Ministry of Finance, on Thursday, called all ministries for the purpose of coordination with the Ministry of Planning to complete the inclusion of investment projects, so as to be funded.

"All ministries should coordinate with the Ministry of Planning to complete the inclusion of investment projects so that the Ministry of Finance can finance them without delay," the ministry's media office said in a statement.

"It is committed to implementing the current budget for the current year 2019 in both current and investment and in terms of investment budget."


Views 23   Date Added 28/03/2019

 
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Finance confirms its commitment to implement the budget of 2019

Economy | 12:59 - 28/03/2019

 
image
 
 

Baghdad - 
The Ministry of Finance, on Thursday, its commitment to implement the budget for the current year 2019. 
The ministry said in a statement received / Mawazine News / copy, it is committed to "implement the budget for the current year 2019 both current and investment." 
The statement added that "with regard to the investment budget, the Ministry of Finance called all ministries to coordinate with the Ministry of Planning to complete the inclusion of investment projects to be able to finance them and without delay."

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4 minutes ago, yota691 said:

the Ministry of Finance called all ministries to coordinate with the Ministry of Planning to complete the inclusion of investment projects to be able to finance them and without delay."

April 1st ?

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Statement of financial statements on the budget of 2019 and investment projects

120615.jpg.e0ad121981468bab0f13b9c71675713e.jpg

 

Baghdad / Al-Masala: The Ministry of Finance issued a statement on the financial budget for 2019.

The ministry said in its statement that it is "committed to the implementation of the budget for the current year 2019 in both current and investment."
With regard to the investment budget called for the Ministry of Finance "all ministries to coordinate with the Ministry of Planning to complete the inclusion of investment projects so that the Ministry of Finance funding and
without delay."

 

Edited by 6ly410
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Issuing a supplementary budget to redress their contracts

image.php?token=a4c10a0fa9393f315e73205e989ec027&c=9602716&size=
 

http://www.ikhnews.com/index.php?page=article&id=188575

Baghdad / News

The parliamentary Finance Committee revealed on Saturday its intention to issue a supplementary budget after the government achieved a financial abundance due to high oil prices, noting that the budget will compensate for the delayed contracts, daily wages and contracts.

"The committee intends to issue a supplementary budget for the current year after the rise in oil prices and the government's financial surplus," said committee member Haneen al-Qado.

He added that "the supplementary budget will solve important issues, including the renewal of their contracts in the security ministries, as well as the stabilization of contracts and wages daily."

He added that "future meetings between members of the Committee and political blocs to determine the mechanism for the development of the supplementary budget and the purpose and what is the amount allocated and duration."

 
Edited by 6ly410
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Parliamentary Finance reveals a forthcoming meeting to assess the performance of the government on the implementation of the budget


https://www.almaalomah.com/2019/04/06/398167/

6th April 2019

The Parliamentary Finance Committee revealed on Saturday a meeting between all the governors and the concerned ministries ministries mid-month to assess the performance of the government's implementation of the budget, indicating that the meeting will discuss the amount of funds spent on the provinces.  

"The Finance Committee intends to hold a meeting on 14 of this month with all the governors and deputy ministers in order to stand on the performance of the government in the implementation of the budget this year after a year of them," said a member of the Committee Haneen al-Qado. 

He added that "the meeting will discuss with officials the amount of funds disbursed to the projects of the provinces and their need for funds for projects faltering, as well as to ask questions to the Undersecretary of the Ministry of Finance in the event of failure to spend directly," noting that

"the supplementary budget is the most effective solution to important issues including the restoration of the old Contracts in the security ministries as well, as the installation of contracts and wages daily."

Al-Qaddo, a deputy of the construction coalition, said "future meetings between members of the committee and the political blocs to determine the mechanism for the development of the supplementary budget and its purpose and what is the amount allocated and duration." 

اللجان-المالية-696x435.jpg

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Parliamentary Finance intends to develop mechanisms to maintain the stability of the dinar exchange rate"  Quote:  "the financial Parliament is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state', indicating that 'the change will raise theexchange rate of the Iraqi dinar against foreign currencies while maintaining the stability ofinflation in the country.

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